| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Irish Economy Last Updated: Jul 6, 2011 - 5:30 AM


SIMI says Irish car sales were up 31% in June; 30,000 cars sold through Scrappage Scheme
By Finfacts Team
Jul 5, 2011 - 4:05 PM

Email this article
 Printer friendly page

The SIMI (Society of the Irish Motor Industry) says June sales figures show that new car sales were up 31% compared to June 2010. The State-subsidised Scrappage Scheme came to an end on Thursday last seeing some 30,000 cars sold through the scheme.

Press Officer for SIMI, Suzanne Sheridan said: "The Scrappage Scheme is now over and undoubtedly it has been a huge success. €100m was generated from the scheme but the figures show that most new cars bought this year were non Scrappage cars."

11,688 Scrappage cars have been registered so far this year, 15% of total new car sales.

"Motorists are clearly availing of the great deals that are out there at the moment and Scrappage certainly brought people back into showrooms. The scheme is now over but these deals will continue."

The SIMI said the continuation of the scheme was clearly welcomed by motorists with 10% of all scrappage sales occurring this January.

Renault was the top selling brand under Scrappage and the Ford Fiesta was the top selling car.

The scheme was focused on low emission cars. The majority of Scrappage cars, 52%, were in the lowest emission Category (under 120g/km) saving 40,000 tons of C02 this year and each subsequent year. The average car scrapped has C02 emissions of 200g/km while the new car it is replacing has emissions of just 120g/km.

The scheme generated €100m for the government in VAT and VRT (after the government discounts).

President of SIMI, Gerry Caffrey said: “Scrappage has been the saviour for our industry. Two years ago, new car sales were 57,000 for the whole year, today that figure, for just half the year, is 77,000.

“It didn’t just benefit our industry though. The real benefit of the scheme was the 3,000 new jobs it created.”

Every job saves the government, on average €23,000 in PAYE, PRSI and Social Welfare so these 3,000 jobs represent a saving of €70m.

“The question keeps arising, what next? Many other EU countries have experienced a downturn in sales post scrappage but only 15% of new car sales here have been scrappage cars so by the end of the year we expect to see similar if not better overall sales than last year.”

“It’s important to remember, we still have a strong servicing sector and the used car market is doing well, after seeing the knock on effects of reduced asking prices thanks to Scrappage.”

“There’s no doubt that manufacturers and dealers will continue to offer the fantastic deals they’ve been offering under Scrappage for the rest of the year.”

The figures:

  • 77,134 new cars sold so far this year;

  • Up 14% on last year;

  • Toyota is the top selling brand so far this year;

  • The Ford Focus is the best selling model;

  • 91% of new cars sold were in C02 bands A & B, the lowest emission bands, compared to 77% last year;

  • 71% of new cars sold so far this year were diesel;

  • Light Commercial Vehicles; vans etc are up 25%.

The Scrappage Scheme, which ended on the 30th June saw 29,371 cars purchased.
  • 17,683 last year;

  • 11,688 this year so far (the total figure is likely to be closer to 15,000 as the last 2 days of June have yet to be compiled).

Related Articles
Related Articles


© Copyright 2011 by Finfacts.com

Top of Page

Irish Economy
Latest Headlines
Finfacts launches new news site
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
Irish Economy: Tax €893m above target in year to July — €653m from corporation tax
Fact and Fiction: Time to review Ireland's economic statistics?
Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Irish manufacturing PMI strong in July
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Irish Budget 2016: Ibec demands 20 tax cuts, spending and investment rises
Low pay in Ireland; Lowest social security & corporate taxes in Europe
Ireland vs Greece: Enda Kenny's false claims on growth, taxes and debt
Irish standard of living in 2014 below Euro Area average, Italian level; Prices 5th highest in EU28
Irish goods exports rose a record 30% in April - due to fake tax-related transactions
Mexican tall ship to sail into Dublin on June 17th
Irish industrial production up 20% in first four months of 2015; Construction down 2.6% in first quarter
Irish Economy 2015: ESRI slams return to boom-time pro-cyclical fiscal policy
Irish pension fund returns in average range 1.6% - 1.8% in May 2015
Irish service sector PMI remains strong; Tax avoidance clouds data
Ireland: Official unemployment rate at 9.8% in May; Broad rate at 19% — 440,000 people
Ireland: Fiscal Council warns of dodgy forecasts, no plan; OECD warns of new property bubble
Irish Public Finances: Tax revenue in first five months of 2015 €734m ahead of target
No simple measure of economic progress in Ireland: GDP & GNP defective
Irish manufacturing PMI rises in May; Production up unbelievable 45% in year to March!
ESRI says data volatility hinders Irish economic forecasting; Tax avoidance taboo cause
Ireland at 16 in international competitiveness ranking; US, Singapore and Hong Kong on top
Irish Economy 2015: Sectors to add 200,000 jobs?; Broad jobless rate at 19%
Irish Export Performance: Myths and reality - Ireland is a poor exporter
Irish Economy: 41,300 jobs added in 12 months to Q1 2015 - Construction up 19,600
China-Ireland: Economic relationship on a slow burn
Estonia, Austria, France, Ireland head global alcohol rankings
Irish Exchequer Returns: Tax receipts under target in April but ahead in year
Irish service sector PMI rose in April
Irish manufacturing PMI remained strong in April- includes overseas manufacturing
Irish Live Register + 90,000 activation scheme numbers at 439,000 in April
Ireland: Coalition drops 2018 full-employment target
Ireland Spring Statement: Noonan promises 200,000 net new jobs by 2018
Irish Economy 2015: Retail sales volume up 1.4% in month of March