Strong demand amid hope for 'new' scrap deal
Sales surge underpins jobs across industry
NEW figures suggest there is a continuing appetite and demand for the scrappage scheme.
It may be by sheer coincidence that the Society of the Irish Motor Industry (SIMI) felt this was a good time to release the most up-to-date figures for registrations so far this year.
No doubt the inherent, if unspoken, message is that it could be replicated over six months to the end of June next year.
As the accompanying graphics show, there has been a steady pick-up throughout the year.
SIMI claims there has been a €129m increase in government revenue because of scrappage.
It breaks this down along the lines of increased sales generating €43m in VAT and €86m in VRT.
It also claims that money given for cars in the scrappage scheme has reached more than €53m -- and counting.
So far 13,615 cars have been 'processed' under the scheme.
We have bought 29,000 more new cars between January and the end of September than we did during the corresponding period last year.
However, we should not lose sight of the fact that the figures represent a fraction of what has been a bounce from an abysmally low base.
The industry is resilient and has managed to hold job losses to low numbers. But it may take an extended scrappage scheme to maintain employment levels.
There is a strong case to be made but we have to wait to see what happens in the Budget.
Meanwhile, new figures from the Central Statistics Office show that 4,683 new private cars were licensed last month -- more than double the 2,272 in September 2009.
The total number of all new vehicles -- goods, etc -- last month was 5,802 compared with 3,563 during September 2009 (an increase of 62.8pc).
Of the 4,683 new private cars licensed last month 1,405 (30pc) were petrol and 2,997 (64pc) were diesel. This is a trend that has now become firmly established across the business.
Renault topped the September sales stakes with 752 followed by Toyota (681), Volkswagen (479) and Ford (432).