The Society of the Irish Motor Industry (SIMI), in association with
DoneDeal, has released the First Quarter Motor Industry Review for 2014. The review, compiled by economist Jim Power using data from SIMI and DoneDeal, looks at all aspects of the motor industry and the socio-economic impacts on the area over the past several years and specifically for the first quarter of 2014.
The review shows a significant upturn in the motor industry compared to previous years and the first quarter has already shown a cause for optimism within the industry in Ireland. New car sales have increased by 27% for Q1 of 2014 compared with the same period last year.
Key Report Highlights:
? New car sales up 27% in first quarter of 2014
? Leitrim sees strongest growth (57.6% increase) of new car sales in 2014, Dublin the lowest
? Motor Industry contributed over €450 million to Exchequer in First Quarter of 2014
? Projection of over 5,000 new jobs by 2017
? Petrol and diesel prices both decrease since 2013
? Motor insurance is 4.4% higher in first quarter of 2014
Alan Nolan, Director General of SIMI, said: “
This is the first quarterly review we have produced and the results certainly leave us cautiously optimistic for the future of the industry. After six extremely tough years for the motor industry in Ireland, we seem to be stabilising and the projected figures are positive, but they are just projections.
“The cost of a new car is down, the cost of fuel is down and the government has also helped the industry by keeping tax levels stable in the last budget. However, if the industry is to rebuild, it is essential that these structures remain in place as a foundation for us to plan the future on”
To view the full First Quarter “SIMI Motor Industry Review in association with DoneDeal” log on to
www.simi.ie
