Wednesday 21 March 2018

New-car sales could hit 125,000 as bookings for July on rise

Car sales bookings are on the rise. Photo: PA
Car sales bookings are on the rise. Photo: PA
Eddie Cunningham

Eddie Cunningham

NEW-CAR sales could extend to 125,000 this year, it is now being predicted.

While activity at dealerships has fallen off significantly for several weeks, dealers are taking a steady stream of orders for what is expected to be a bumper 152-reg July.

And an increase of nearly 30,000 new cars over last year is now a real possibility.

According to Ford Ireland chief Ciarán McMahon there is a good chance the 125,000 figure could now be reached. Total sales last year were 96,000.

Such an outcome would be 'win-win' for all concerned, he said - especially for the Exchequer, which will benefit from tens of millions of euro in extra tax revenue.

His forecast is the most optimistic voiced publicly so far by a senior figure but it is being echoed by several analysts across the industry.

If it is achieved it would mean a 50pc increase in sales in just two years.

As well as reflecting buoyant consumer confidence, widespread availability of finance and lease deals are underpinning new purchases.

Even more dramatic evidence of economic growth comes from the expected doubling of commercial vehicle sales for 2014/15 over previous years.

Indo Motoring

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