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Louth car sales hit the slow lane

Supply issues a national problem in the motor industry



Louth car sales slowed up in the second half of 2022, but performed better than the national average, according to the latest figures from the Society for Irish Motor Industry (SIMI).

There were 2,064 new car ‘22-02’ registrations reported by the end of July in Louth, a marginal increase of 2.74%, compared to 2,009 during the same month last year.

Nationally, the new car market is down 4% year on year, a factor which has been partially attributed to a lack of supply.

Commenting on the new vehicle registrations Brian Cooke, Director General SIMI said:
“Disappointingly July new car registrations, our second highest sales’ period, are down 17.3% on July 2021. This means the new car market is now 4% behind year to date and 17% behind pre-COVID 2019."

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He added that the electric vehicle segment “continues to grow, both in quantum and as a proportion of the new car market, with an 80% year on year growth and a market share of 13%.”

The SIMI Director General said that while it appears that there is appetite among consumers for both new and used cars, supply issues are hampering overall activity.

"The impact of this is another year of below par performance in the Irish new car market, which results in the Irish car fleet continuing to get older. The underlying new car market needs to grow significantly over the next few years if we are to optimise transport emission reductions. Government policies must contain the right measures, to support and encourage the change to lower and zero emitting vehicles.

Reducing EV supports or increasing taxation will only act as a barrier to change and add to the cost of living. In this context, SIMI is asking the Government to continue its support for the EV project by extending EV supports at current levels out to 2025 and to resist any VRT increases in Budget 2023 which will only prove counterproductive and prevent us dealing with the legacy fleet in an effective manner that supports a just transition.”