Wednesday 18 October 2017

Fears of Budget 'hit' as second-car values suffer Brexit blow

Brexit has sparked a huge flow of imports
Brexit has sparked a huge flow of imports
Eddie Cunningham

Eddie Cunningham

And so we wait to see what the Budget holds for motorists. With new-car registrations down and imports soaring, there are fears of negatives.

The latest SIMI figures show registrations for September down 17pc; overall numbers are 10pc (128,597) off. SIMI chief Alan Nolan says the Budget mustn't carry "negatives" that could harm the industry, neither should motorists be burdened further. Here's hoping.

Brexit has sparked a huge flow of used imports that are now impacting heavily on the value of everyone's car. 'Home' prices are reducing to compete with imports.

The SIMI is also looking for ways to help the shift towards alternative fuel vehicles while stressing the importance of cleaner diesels to rural Ireland in particular.

Mr Nolan says diesels are being unfavourably portrayed. He cites Norway's average diesel car being 10 years-plus and pre-dating diesel particle filter technology.

"In Ireland the average diesel car is 5.7 years old and is fitted with a DPF. Our diesel cars are so much younger," he says.

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