New car registrations up for 142
Published 01/08/2014 | 16:39
NEW-CAR registrations soared by 61pc last month – to an unprecedented 18,776 – as buyers snapped 142-reg vehicles at a phenomenal rate.
The mid-summer splurge underlines growing confidence in the economy, the level of pent-up demand from buyers and plenty of finance for car purchase.
The SIMI figures show how 7,000 more people bought a new car last month than in July 2013 when 11,620 did so.
So far this year, 84,478 have now been registered, a 23.25pc increase on the 68,541 for the corresponding period in 2013.
Last month’s surge suggests the ‘July plate’ is beginning to establish itself in the mind of the ordinary motorist, according to Ford Ireland chief Eddie Murphy.
Van sales were up a massive 95pc for the month, further underpinning the belief that businesses are feeling confident enough to invest and expand.
“I am even more heartened to see light van sales up a whopping 95pc,” Mr Murphy said.
“Small businesses rely on these vehicles to get the job done and those small businesses are a crucial part of the economy so if they are back out there investing in their infrastructure it can only be a good sign for the overall economic outlook.”