A report by the Society of the Irish Motor Industry and DoneDeal has revealed that there has been a dramatic drop in the number of new cars being bought and registered in Offaly.
In July, the first month of the new 172 registrations, just 300 new car were registered in Offaly, a drop of 36.31% when compared to the 471 sold during July of 2016.
Nationally, new car sales in July of this year stood a 27,748, down 7.14% when compared with the same months last year when 29,880 new cars were registered.
In the first half of 2017, new car sales in the first half of 2017 nationally were 91,185, a decline of 10% when compared to new cars sold during the first half of 2016. In Offaly, in the year to date, 1,440 new cars were registered, a drop of 16.9% compared to the 1,733 sold from January to June in 2016.
The SIMI/DoneDeal report highlighted that a combination of factors, including rising housing, rental and health insurance costs and uncertainty surrounding Brexit, were affecting disposable income spending and making consumers cautious about purchasing big-ticket items such as new cars.
The market share for hybrid vehicles increased from 1.6% of the market in the first six months of 2016 to 3.2% of the market in the same period in 2017, according to the Report.
At the same time, there has been a welcome rebalancing of the Diesel/Petrol market shares and it is likely that this trend is set to continue toward equality between the two fuel types.
Registrations of new diesel cars, reduced from 71% of the market in the first six months of 2016 to 66% of the new car market in the first half of 2017. There was a small decrease in new petrol car sales, which were down just 1% and they accounted for 30.2% of all new cars sold during the first half of 2017.
Imported cars, the vast majority of which (97%) are from the UK, continued to be a significant part of the overall car market, the SIMI/DoneDeal Review found. It showed that during the first half of the year, 46,004 used cars were imported, which represented an increase of 42.6% compared to the first half of 2016.
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