independent

Tuesday 28 February 2017

Louth new car sales hit bump in the road

Louth car sales have hit a slight bump as a new report showed that new registrations across the county were down 9.7% in January 2017 compared with figures from the first month of last year.

Figures from the Society of the Irish Motor Industry (SIMI) showed there were 884 new car registrations in Louth in the first month of this year compared to 979 last January.

The fall came after a bumper year in 2016, when new registrations in Louth increased by 13.46% to 3,153 from 2,779 in 2015.

Jim Power Economist and author of the report said; 'Looking ahead to 2017, while the outlook for car sales is a bit more difficult to predict than last year, the projected growth in personal disposable incomes and the availability of credit provide solid support for car sales.

However, the impact of Brexit and the increased volume in imported used cars are other issues that may impact on new car sales this year. Overall, though, numbers should be fairly close to last year with perhaps a slight decline of around 3% in new car sales in 2017, which would imply national new car sales of around 142,000.'

Irish Independent

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