Monday 23 January 2017

UK imports head for 70,000: how many in 2017?

Published 30/11/2016 | 02:30

Ford chief Ciarán McMahon
Ford chief Ciarán McMahon

The number of used imports registered this month is nearly double that for November 2015 as thousands more opt to shop for their latest car in the UK.

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So far this month, 7,231 second-hand imports have been registered, making it the busiest month this year on that front.

It translates into a near-91pc hike on the 3,787 imported last November.

The total for the year to date is now around 66,000.

If current buying trends continue it looks like overall numbers could reach, if not surpass, 70,000 by year's end.

Based on the fact that 2,944 were registered in December last, and allowing, in the current climate, that an extra 1,000/1,500 are likely to be bought in addition to that next month, then the total would be in the region of 70,000.

If so, it would represent an increase of around 22,000 imports in one year - or nearly 2,000 more a month all year.

The really big increases have come since the summer's Brexit vote. This is the third successive month of 7,000+. Who is to say we won't have a fourth in December?

Ford chief Ciarán McMahon (pictured) reckons the surge of imports has driven down the value of good trade-ins here by €2,000 because dealers have to protect themselves against falling values.

• Meanwhile the battle to become 'Ireland's best-selling brand' is entering the closing stages with Hyundai and Volkswagen fighting it out with only a handful of registrations between them.

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