CAR SALES in March were down 23 per cent compared to the same month in 2007, according to initial sales figures.
Some 21,641 new cars were registered last month compared to 28,107 units in the same month last year.
The weak sales in March mean that overall sales figures for 2008 are likely to be down nearly 9 per cent on the same period last year.
With an estimated 3,000 sales, Toyota is likely to remain the top selling brand, followed by Ford (2,603), Nissan (2,581) and VW (2,223). The best-selling car on the market remains the Ford Focus, followed by the Mondeo and VW Golf.
Commercial vehicle sales are also estimated to be down 28 per cent at 4,443 units. Ford is the leading brand in this market, with a 19.7 per cent share.
Easter and St Patrick's weekend breaks no doubt contributed to the downturn in March - the overall sales figures do show a fall-off, partially due to uncertainty over the tax changes due to be introduced from July 1st.
BMW Ireland is the first Irish car firm to release its post-July new car price list and the good news for consumers is that prices will fall on 68 per cent of the BMW range and 69 per cent of the Mini range.
From July 1st, Vehicle Registration Tax (VRT) will be based on the CO2 emissions of a vehicle rather than the cubic capacity and the new tax rates will range from 14 per cent for vehicles with 120g/km or less of CO2 to 36 per cent for vehicles putting out 226 g/km or more of CO2.
For example, the VRT on a BMW 318i ES saloon, which has a 2-litre petrol engine, will fall 10 per cent which means a price reduction of €4,484. The diesel equivalent - the 2-litre diesel 318d ES - now has a VRT rate of just 16 per cent with a price drop of €6,594. The most dramatic price reduction sees the BMW 520d SE have a record price fall of €8,193.
There has been a fear that some distributors would take the opportunity to increase prices as a result of the change in VRT, but a spokesperson for BMW Ireland was keen to stress that they were passing on all tax savings.