The number of new cars licensed for the first time in Ireland fell by more than 22 per cent in March, CSO figures show.
Only 20,190 private cars were newly licensed in March 2008, compared with 25,974 in March 2007. To date, the number of cars licensed has reduced by 5.3 per cent to 77,441 when compared with the same period a year earlier. Meanwhile, the first licensing of second-hand private cars fell 9.3 per cent.
The decline in the private vehicle market was also reflected in the commercial market, with the number of new goods vehicles licensed slipping 39.3 per cent to 3,858.
The number of total vehicles licensed during March was 32,589, a 24.1 per cent decrease compared with the same month in 2007.
A new emission-based vehicle taxation system is set to come into force in July. Those vehicles with lower emission will pay less in tax, while those with higher emmissions will be penalised through increased levies.
