Redco hopes big plans are magic
With the motor trade still stuck in reverse, it's interesting to see planning permission has just been granted by South Dublin County Council for a new car showroom off the M50. Redco, a company that's behind the Honda marque here and which is chaired by Robert Galbraith, is aiming to build a 1,104 sqm showroom with office and ancillary space over two floors, parking, car storage and display areas and other works.
The plan for the new showroom comes as new car sales in Ireland fell 6.6pc in 2013. There were 74,303 new car registrations last year. Volkswagen was the biggest-selling marque, with a 12.8pc share, with Toyota in second place at 10.3pc. Ford had just under 10.3pc, while Hyundai had 7.8pc and Nissan 7.1pc. According to the Society of the Irish Motor Industry, Honda had just a 1.3pc share of the Irish new car market last year.
The latest set of available accounts for Redco show that the Honda distributor generated turnover of just under €32m in 2012 and made a €578,000 loss. Of the turnover, €13m related to the sale of motor cycles, power products and related spare parts, while there was €16.6m in sales of motor vehicles. By coincidence, Robert Galbraith is the pseudonym used by Harry Potter author JK Rowling. Maybe some of the magic will rub off.