Figures released today by the Society of the Irish Motor Industry (SIMI) show that new car registrations were up 25% (15,854) last month compared to (12,711) February 2014, year to date new cars are up 29% on last year.

Light Commercial Vehicles (LCV) are up 45% (2,321) on February 2014 (1,606) and 61% compared to the first two months last year.  Heavy Commercial Vehicles (HGV) are down 20% in February and down 29% year to date.

Commenting on the figures SIMI Director General, Alan Nolan said: “It’s good to be able to report continued progress in the Industry’s recovery back toward more normal levels of business”.  Recently released figures from the CSO confirm that employment in the Industry grew by 4,500 last year, on the back of the increase in vehicle sales, and now totals close to 42,000 employees. “With consumer confidence remaining strong and new car sales continuing to grow we are confident that employment in the sector will increase further this year”.

The LCV statistics show a 61% increase, on top of last year’s 51% growth, confirming that the overall economy is recovering strongly. Unfortunately the HGV figures show a decline of 29% after last year’s growth.  It is clear that the poor registrations in HGVs result from the New Vehicle Approval system that has been delaying registrations and causing serious problems for the Industry and its customers. 

Indications from a survey of members confirm that registrations in February would have been significantly ahead of last year if the State’s registration process was actually operating efficiently.  We are aware that the system is being worked on but the current situation is not acceptable and needs to be resolved as it is now at the stage where it is potentially damaging business.

Overall, though, the outlook is very positive for the Industry with both consumer and business interest continuing to deliver increased footfall in
dealerships.