Monday 29 May 2017

Experts now say we'll buy 165,000 new cars this year

Car sales forecasts are being revised upwards.
Car sales forecasts are being revised upwards.
Eddie Cunningham

Eddie Cunningham

Now the dust is settling on a whirlwind sales start to the year, the experts are steadily upwardly revising their estimates for the year.

A few weeks ago Renault Ireland chief Paddy Magee was among the first to publicly forecast a possible rise of 40,000+ new cars this year - from 125,000 in 2015 to as many as 170,000 for 2016.

Most observers started the year - and presumably ordered models - on the basis of a strong 150,000-to-155,000.

That in itself would have represented a substantial increase.

But that's looking like being to conservative now and sources I've spoken to since Mr Magee's prediction have been in general agreement that we're headed for 165,000 anyway - and possibly more.

Figures from the Society of the Irish Motor Industry show a 33.5pc lift to 39,812 from 29,808 in January 2015. And February is roaring ahead.

Among the few perceived threats to the 165,000/170,000 figure, as of now, is volatility on world stock markets and the strength of the Japanese yen.

Indo Motoring

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