The new-car market last month was up by more than 21 per cent compared with January 1998, according to figures issued yesterday. In all, 27,003 new cars were registered in the month against 22,202 in January of last year.
The growth surprised motor industry analysts, particularly in view of the vehicle registration tax increases announced by the Minister for Finance, Mr McCreevy, in his December Budget. A number of drivers registered cars in December to avoid the VRT changes which became applicable at the start of 1999.
Mr Eddie Nolan, chairman and managing director of Ford in Ireland, commented yesterday: "The market has gone through the roof. We knew January was going to be a big month, but this exceeds even our expectations."
Ford led the January market with 3,182 registrations or 11.8 per cent of total new car sales. Nissan and Volkswagen were second and third with 10.5 and 9.6 per cent respectively.