New car registrations fall 20% in 2008 but imports rise

The number of new cars registered last year fell by 19 per cent last year, according to figures released by the Central Statistics Office today.

However, the number of private cars registered after being imported into Ireland rose by 2.3 per cent from 58,719 in 2007 to 60,091 last year. The majority of imports into Ireland come from the United Kingdom, with a weakened sterling making it more attractive for Irish buyers to source second hand cars there.

The figures show that 146,470 new cars were registered in 2008 compared to 180,754 in 2007. The number of new goods vehicles fell from 46,043 to 31,459 or by 31.7 per cent in 2008, further illustrating the effect of the recession on the motor industry.

The figures are further bad news for the industry which reported a 66 per cent drop in registrations in the first 20 days of the year. Several premium brands have recorded drops of over 90 per cent and tax revenue on car sales could be down by over €1 billion this year.

Today’s figures show the highest number of new registrations in 2008 were Toyotas, followed by Ford, Volkswagen, Open and Nissan. More than 20,000 new Toyata cars were registered last year, compared to nearly 16,000 Volkswagens. Some 300 Alfa Romeos, 5,677 BMWs and 4,121 Mercedes Benz were registered in the same period.