SIMI, the Society of the Irish Motor Industry, released the figures for January's new car sales this week. The statistics show that the sale of new cars in the past month is up 29 percent on the same period for last year, at 21,078 units. This same figure represents an approximate increase in revenue of around €30 million over the previous period.
Speaking at its January press briefing at the Merrion Hotel, SIMI's Director General Alan Nolan explained that "January is the busiest month for car sales and sets a precedent for the rest of the year". This better than anticipated figure was said to have been the combined result of the Government's ongoing scrappage scheme, strong offers from all brands, as well as the availability of finance in most dealerships. It is expected that the current strong demand for cars under the scrappage scheme will continue up until it finishes in June of this year.
Mr Nolan also proclaimed that "this is a great start (to the year) but it is very early days to draw any firm conclusions", due to the scrappage deal lasting for a full 12 months last year rather than just six.
This news comes just as the new DACU (Direct Access to Credit Unions) initiative has been launched. Click here to read more on this car financing scheme.