Saturday 25 November 2017

More than one million car deals are being bought and sold in Ireland each year, new figures show

And there's more to come, expert predicts

There is a lot of buying and selling cars
There is a lot of buying and selling cars
Eddie Cunningham

Eddie Cunningham

Between buying and selling, new and used, we are now totting up more than one million private-car transactions a year, according to new figures.

That is a lot of buying and selling and seems to be a true reflection of the vastly increased level of activity by people changing and upgrading their vehicles.

The new figures, compiled by data expert, show how we topped the million mark last year. That is the highest since they began recording results.

They also reveal the cars that most frequently change hands - in other words the most popular on the secondhand market. And there appears to be a remarkable consistency.

The company looked at all transactions of private cars (including imports) in 2016.

That overview included:

* private to private sales;

* cars imported privately;

* trade-to-trade sales;

* trade-ins and

* trade-to-private transactions.

And all of that dealing meant transactions for 2016 came to 1,014,376 for the year.

That is a substantial increase (7pc) on the 943,995 that were dealt with during 2015.

Cartell also looked at the total, overall, number of transactions in the used market - for all vehicles, not just private cars.

And they calculated that there were a record number of deals in that too - up 7pc to 1,200,695 from 1,125,816 in 2015.

Cartell's John Byrne says the figures represent a 'record high' since his company began.

Furthermore, he is forecasting more growth in the used-car market this year.

His expectations would appear to be strongly backed up by the surging used-import sales volumes so far in 2017.

Already around 10,000 have been registered - after January rolled out a substantial 67pc leap to 7,558 on the corresponding month in 2015 (4,509).

And that followed a 51pc increase in imports last year.

Given the brisk start to dealing this year, it looks like the 2016 total of 72,182 will be easily outstripped in 2017.

Indo Motoring

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