New car registrations continue to rise
Figures released today by the Society of the Irish Motor Industry (SIMI) shows that new car registrations for May were up 11 per cent (6,940) compared to (6,272) May 2014 and are currently up 26 per cent (80,913) for the first five months of 2015.
Light Commercial Vehicles (LCV) were up 35 per cent (1,701) on May 2014 (1,261) and year to date are up 56 per cent (13,835) overall. Heavy Goods Vehicles (HGV) are also up for the month of May 38 per cent (231) compared to the same month last year (167).
Commenting on the figurers SIMI Deputy Director General Brian Cooke said: “We are fast approaching the half way mark of 2015, with confidence continuing to grow in the economy generally and among SIMI members regarding the business outlook in the months ahead.
This confidence is reflected in the creation of new jobs within the Industry. Recent figures released from the CSO confirm that employment in our Industry is in steady recovery mode and has seen a rise of 2,800 jobs in the first quarter of 2015 (Q4 2014 41,900). Employment within the Motor Industry is currently estimated at 44,700.”
He continued “While sales in new and used vehicles, both cars and commercials, are continuing to show strong growth, the Aftermarket and Repair Sectors are experiencing much more modest improvement. The reality is that even with the rise in new vehicle sales the age profile of the national vehicle fleet is going to improve only slowly over the coming years and this directly impacts on business in these sectors.”