New and used vehicle markets up so far this year

The market for both new and used vehicles is up this year, significantly in the case of new vehicle sales, vehicle history and data expert Cartell.ie has reported.

Total transactions for new vehicles stand at 64,718 in the year up to February 25. This compares to a figure of 52,065 for the equivalent stage last year, which represents a market increase of 23 per cent.

In the case of the used vehicle market, transactions also increased on last year’s volumes. The 2016 year-to-date figure for all transactions (all vehicles including imports) stands at 190,766. This compares to 181,520 for the equivalent stage in 2015 – a year which recorded a record number of transactions. The 2016 figure represents an increase of 5 per cent over last year.

John Byrne, Cartell.ie says: “The New Car Market shows clear signs of the anticipated upward growth over last year. January saw big upward movement as pre-orders from last year filtered through. Now we are seeing growth consolidated in February with a 23% year-over-year increase.”