Let's get the depressing stuff out of the way first: compared to April 2012, new car sales have slumped by around nine per cent; and since January sales are down 13 per cent compared with 2012. Alan Nolan, Director General at SIMI says that the new car market is operating at about 50 per cent of target, and that this figure is "unsustainable" in the long term.
However, if we look more closely we can see how the car market is changing in favour of buyers. Firstly, the average price of a new car is now €24,483 - 10 per cent less than it was in 2007. We can also see that value brands such as Hyundai and Kia have actually enjoyed sales growth compared with last year - up by 12 and seven per cent respectively. Thanks largely to these two brands the micro standard (A1) segment of the market has grown by almost 50 per cent compared to last year.
So while it seems as though Ireland's buyers are looking for more bang for their buck, Audi's sales have also increased (by almost four per cent), meaning that there are still individuals out there seeking a prestigious badge. This is reinforced by Ireland's best-selling model of 2013 to date - the new Volkswagen Golf. While comparable models such as the Opel Astra, Toyota Auris and Ford Focus have also proved more popular this year, the pricier Golf is still the nation's favourite. Overall, the small prestige (C2) segment of the market has grown by more than 10 per cent compared to 2012.
Other trends may not be surprising. Running costs are a major factor when buying a new car, meaning that small, petrol hatchbacks are still selling well; and sales of vehicles in tax Band A remain at a reasonable level.
Nolan goes on to say, "The good news is new car prices have fallen, and consumers are encouraged to shop around to avail of the many deals that are on offer."
In the LCV market, Volkswagen has been the brand of choice so far this year too; with Scania taking the crown in the HCV segment.