Monday 26 February 2018

Imports of second-hand cars surge as buyers take advantage of weaker sterling

The number of imported second-hand cars licensed rose by 46.0pc in the first six months of the year (Stock image)
The number of imported second-hand cars licensed rose by 46.0pc in the first six months of the year (Stock image)
Ellie Donnelly

Ellie Donnelly

The number of imported second-hand private cars licensed rose by 46.0pc in the first six months of the year compared with the same period in 2016, according to the latest data from the Central Statistics Office (CSO).

The increase in imported second hand cars is seen as a consequence of the sterling falling against the euro, with more and more car buyers likely crossing the border to take advantage of the weakness in sterling.

Meanwhile the number of new car licenses for the first six months of 2017 was down 10.4pc compared with the same period last year.

According to the CSO a total of 87,346 new private cars were licensed in the six months to June 2017, down from 97,490 in the six months to June 2016.

Read more: Insurance data in focus after EU raids

Taking the month of June 2017 alone, 3,585 new private cars were licensed for the first time, a decrease of 13.5pc compared with June 2016.

A total of 7,085 imported second-hand private cars were licensed in June, representing an increase of 29.8pc on June 2016.

Volkswagen was the most popular make of new cars licensed in the first half of 2017, followed by Toyota, Ford, Hyundai, and Nissan.

Together these five makes represent 47.2pc of all new private cars licensed in 2017.

In the first half of 2017, almost two thirds of new private cars licensed were diesel, with 30.6pc petrol and 3.7pc electric/hybrid.

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