Business Irish

Tuesday 16 July 2019

Irish drivers spending more on UK import cars

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Ellie Donnelly

Ellie Donnelly

Spending by Irish motorists on UK cars imports jumped in the first half of the year on the back of a weaker sterling.

In the six months to 30 June, motorists using a payment system from financial services group Fexco increased their expenditure on UK car imports by 107pc, according to the Kerry-headquartered company. The figures, based on more than 4,200 transactions, show the number of British vehicles imported by Irish drivers increased by 74pc on 2018 levels, while the average amount each buyer spent rose by a fifth to €17,709.

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David Lamb, head of dealing at Fexco, said: "The UK has a much greater supply of used and nearly-new cars than Ireland, so a British used car will typically cost less than a similar model on this side of the Irish Sea."

"When you factor in the added purchasing power the strong Euro gives Irish buyers looking to the UK for their next car, the case for buying British can be compelling".

Overall, the total number of used cars imported here during the first half of 2019 rose to 53,120 - up 2.4pc on the same time last year - putting Ireland on target to smash the record total of 100,755 second-hand cars imported in 2018.

This comes as figures from the Central Statistics Office show that car registrations continue to slow across Ireland. A total of 77,639 new cars were registered during the first six months of 2019, down 6.5pc on a year ago.

Data from Fexco suggests the import boom is being driven mainly by individuals rather than car dealers.

Irish Independent

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