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More people are importing cars from the UK as Brexit hits the value of sterling

New car registrations are down, but so too is the cost of a new car and insurance.

Image: Shutterstock/Yakov Oskanov

THE SOCIETY OF the Irish Motor Industry (SIMI) has released its Q3 Motor Industry Review of 2017 in association with DoneDeal.

Used car imports have risen by 20.1 per cent to 8,509 units in October, and the year-to-date increase is 35.6 per cent (79,322). The number of used car imports, of which 95 per cent come from the UK, is cited as one of the main reasons for the decline in new car registrations and the rise in imports has been attributed to the fall in the value of sterling as an effect of Brexit.

A concern was raised in the report about the banning of older diesel cars in cities in the UK which could lead to these older models becoming devalued and exported to Ireland and “negatively impacting on the environmental progress been made here by the improvement in new car sales since 2013.”

Figures in the SIMI/DoneDeal report show that imports of cars that are four and five years old increased by 30.28 per cent this year compared to last and a 26.51 per cent increase on cars six to nine years old.

The top selling used imports are:

 

  1. Ford Focus
  2. Volkswagen Golf
  3. Audi A4
  4. Nissan Qashqai
  5. Volkswagen Passat

 

Overall, the top selling used cars on DoneDeal are:

 

  1. Volkswagen Golf
  2. Ford Focus
  3. Volkswagen Passat
  4. Audi A4
  5. BMW 3 Series

 

In good news for the consumer, the cost of buying a new car is 3.5 per cent lower than it was in September 2016 and motor insurance premiums are now 14.3 per cent cheaper compared to September 2016. However, they are still a shocking 44.8 per cent higher than they were in September 2013.

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About the author:

Melanie May  / http://www.melaniemay.com

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