NEW CAR sales of 100,000 or more this year is the favoured prediction of bookmakers Paddy Power, which is offering odds on this year’s market. This week, they changed the odds they were offering but were still making sales of over 100,000 cars in 2010 the favourite with odds of 13/8. Sales from 90,001 to 100,000 carry odds of 9/2, but were 4/1 last week.
You can get 3/1 on sales of 70,001 to 80,000, which had been offered at 5/2. The odds on new car sales ending the year at between 60,001 to 70,000 remain at 7/2. The longest odds are on sales of between 50,001 and 60,000, which are offered at 6/1. Finally, the bookmakers have slashed the odds on sales being under 50,000 from 16/1 last week to 8/1 currently.
Paddy Power from the bookmakers told The Irish Times: “We are eternal optimists here and while we aren’t experts on the car market, we are hopeful that there would be a great improvement on last year.”
However, not everyone shares the optimism. Chairman of Ford Ireland Eddie Murphy said: “I think I would pay out myself on any bets of the car market ending up at over 100,000 this year. However, if I had to put a punt on myself, then I think I would take something at 3/1 for sales of between 70,001 to 80,000.”
Alan Nolan, director general of the Society of the Irish Motor Industry (SIMI) said he was delighted to see such optimism from the bookmakers. “We are delighted to see that optimism is creeping back into Ireland and it is a great improvement on the negativity of last year.”
Car sales in 2009 were recorded at 57,460 units, down 62.1 per cent on 2008. Most commentators are predicting that the scrappage scheme will add around 10,000 to 12,000 units on last year’s figure.