Despite the impending Budget, latest figures show that new car sales increased slightly for the month of November with 105 more vehicles sold this year than in the same period in 2011.
Of the 883 cars sold in November only one car separated Toyota and Volkswagen at the top of the charts, though it was the Toyota Auris that claimed top spot for individual models - only marginally ahead of the Opel Insignia and Volkswagen Passat.
As we enter the final month of the year the Ford Focus still remains a firm favourite amongst Irish buyers with more than 3,680 having found new homes in Ireland. Over the final few selling days Toyota and Volkswagen will duke it out for the coveted top spot with Volkswagen the only brand to breach the 10,000 mark in 2012 thus far.
November has followed the lead of all other months this year, with 96 per cent of all cars sold qualifying for one of the two lowest tax bands but this, and the VRT rates charged on new cars, look set to change; something Alan Nolan Director General of SIMI is wary of:
"New car sales are down 10,000 on last year and given that each new car generates €7,700 in tax for the Government, this represents a reduction of €80 million in the tax take from the Motor Industry.
All indications are that we are facing a VRT increase in the Budget but clearly increased sales will deliver far more in tax revenues to the State than increasing the tax rates.
At least for consumers any increase in VRT is likely to have a knock-on effect on the value of the second hand [model] being traded-in and with quality used cars in very short supply, they are still likely to do well in the current market environment. "