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Motor Industry calls for action on Insurance costs and underlines the importance of stability ahead of Budget 2017

03 October 2016

The Society of the Irish Motor Industry (SIMI) today issued the official 162 car sales figures for the month of September which saw 162 registrations decrease by -1.4% (4,698) compared to September 2015 (4,766). Total New car registrations year to date are up 18% (143,205) ahead on the same period last year (120,961).

Light Commercial Vehicles (LCV) are up 20% (26,171) year to date, while the month of September has seen a slight increase of 3% (1,634) in comparison to the same month last year (1,582). Heavy Goods Vehicle (HGV) registrations, have recorded a 16% increase for the month of September (213) 2016 when compared to September last year (184), with registrations up 38% year to date (2,646). 

Commenting on the figures SIMI Director General Alan Nolan said “ As an Industry which employs 42,000 people nationwide and collects in excess of €5 Billion in Taxes for the State, what we need next week is a Budget that supports stability and lifts consumer confidence again. After several difficult years it is important that the Economy and our Industry do not see a downward trend after the progress of this year. Consumer and business confidence are crucial in driving economic activity so any negative decisions in the forthcoming Budget will directly impact on activity, on employment and on tax revenues in 2017.

Despite the continuing reduction in the overall cost of motoring, the significant increase in the cost of motor insurance premiums for consumers and for businesses must now be a serious concern across all sectors. Since 2013 Motor Insurance Premiums have increased by 71.3% and in the past 12 months alone, increases have been running at 38.6%. With further significant increase in premiums predicted, this will continue to unfairly burden motorists and businesses, and is a particularly serious issue in the case of younger drivers and those on lower incomes. Our experience of previous periods of high insurances costs suggest that car maintenance will reduce, increasing the risk of accidents and the incidence of uninsured driving is also likely to increase.  In the past when we had similar problems the establishment of the Motor Insurance Advisory Board (MIAB) and its recommendations (2003) delivered significant reductions and improved the level of transparency in relation to the factors contributing to insurance costs. SIMI is calling for the re-establishment of the MIAB as a matter of urgency.  We commend the work of the recent Oireachtas Committee hearings and the current CCPC investigation. However immediate wider-ranging action is urgently needed. In this regard while we await the re-establishment (hopefully) of the MIAB, the Society also feels that the CPCC’s Consumer section should undertake out a general review, from consumers’ perspective, of motor insurance premiums seeking to highlight the issues, including underlying costs, which give rise to the current high level of motor insurance premiums and to make recommendations to the Minister in order to ameliorate the situation. Recent reviews of insurance costs in the UK, has seen their motor insurance premiums fall to levels that are now lower than three years ago."  

- Ends-
Notes to Editor
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Stats in short:
• New car sales year to date (2016) 143,205  (2015) 120,961 +18%
• New car sales total September (2016) 4,698 (2015) 4,766  -1.43%
• Car Sales by county year to date Click Here 

New Passenger Cars by County Year to Date

County

2016 Units

2015 Units

% Change

2016 % Share

2015 % Share

Carlow

1731

1448

19.54%

1.21%

1.2%

Cavan

1576

1363

15.63%

1.1%

1.13%

Clare

3105

2589

19.93%

2.17%

2.14%

Cork

18478

14881

24.17%

12.9%

12.3%

Donegal

3453

2924

18.09%

2.41%

2.42%

Dublin

56406

48765

15.67%

39.39%

40.31%

Galway

5730

4988

14.88%

4%

4.12%

Kerry

3183

2640

20.57%

2.22%

2.18%

Kildare

5930

4964

19.46%

4.14%

4.1%

Kilkenny

2784

2322

19.9%

1.94%

1.92%

Laois

1741

1442

20.74%

1.22%

1.19%

Leitrim

621

557

11.49%

0.43%

0.46%

Limerick

5103

4224

20.81%

3.56%

3.49%

Longford

712

628

13.38%

0.5%

0.52%

Louth

3113

2691

15.68%

2.17%

2.22%

Mayo

2765

2362

17.06%

1.93%

1.95%

Meath

4558

3633

25.46%

3.18%

3%

Monaghan

1217

1042

16.79%

0.85%

0.86%

Offaly

1850

1504

23.01%

1.29%

1.24%

Roscommon

1393

1064

30.92%

0.97%

0.88%

Sligo

1304

1101

18.44%

0.91%

0.91%

Tipperary

4076

3455

17.97%

2.85%

2.86%

Waterford

3631

2910

24.78%

2.54%

2.41%

Westmeath

2168

1864

16.31%

1.51%

1.54%

Wexford

3430

2883

18.97%

2.4%

2.38%

Wicklow

3147

2717

15.83%

2.2%

2.25%

5 Top Selling Makes for the Year 2016:
1. Hyundai 2.Volkswagen 3.Toyota 4.Ford 5.Nissan 
5 Top Selling Models for the Year 2016
1. Hyundai Tucson, 2.Volkswagen Golf, 3.Ford Focus, 4.Skoda Octavia 5. Nissan Qashqai
• Top selling car for the month of September Volkswagen Golf and year to date is Hyundai Tucson
• Light Commercial Vehicles sales year to date (2016)26,171 (2015) 21,770 +20%
• Light Commercial Vehicles sales total September (2016) 1,634 (2015) 1,582 +3%
• Heavy Goods Vehicle total sales year to date (2016) 2,646 (2015) 1910 +38.5%
• Heavy Goods Vehicle sales total September (2016) 213 (2015) 184 +15.76%

FOR MORE INFORMATION:
Contact: Teresa Noone, PR & Marketing Manager SIMI, 087 792 8844 / 01 6761690 tnoone@simi.ie