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SIMI Motor Industry Review 

Q1 Quarterly Review 2018
Issued 24th April 2018



SIMI Quarterly Motor Industry Review Q1 2018: Car registration figures for the first quarter of show that new car registrations are down -5.5% (71,805) compared to Q1 2017 (75,982). New Light Commercial Vehicle registrations (LCV) were up 5.3% (12,529) when compared to last year (11,900), while New Heavy Commercial Vehicles (HGV) have declined 11.2% (916) year to date. Imported Used Cars year to date are 9.5% (26,116) ahead of 2017 (23,862) 

The Report shows that in the first quarter of 2018 new diesel registrations accounted for 56.3% of the market a decline from 66.7% on quarter one last year while petrol accounted for 37.5% of the total up from 29.6% on Q1 of 2017. Average CO2 emissions for new cars sold were 1.4% higher in the first quarter of 2018 when compared to a year earlier. The recent move away from diesel to petrol has resulted in average CO2 emissions now trending upwards again after a prolonged period of desirable decline.

The SIMI Report highlights a number of price decreases in the cost of motoring. The average price of a new car in Q1 2018 was 1.9% lower than a year earlier; interestingly consumers are spending more on higher specification cars with the average OMSP (Open Market Sales Price) up 4.1% on Q1 last year. The cost of Motor Insurance in March 2018 was 13.8% lower than it was a year earlier; however average Motor Insurance costs in March were 37% higher than in March 2013. While the cost of fuel decreased slightly in Q1 of 2018 with Petrol prices down 0.7% and Diesel prices down 0.5% last year.

For 2018 new car registrations are forecasted to reach around 120,000 which would represent a decline of 8.6% on 2017 while used car imports by contrast are projected to grow by around 15% to reach 107,470. Similar to last year Brexit related uncertainty looks set to continue, largely due to the uncertain performance of sterling and the impact of used imports from the UK.

Jim Power, Economist and author of the SIMI Report said:“It is clear that Brexit uncertainty and used imports from the UK continue to exert pressure on the domestic new car market. Looking forward to the remainder of 2018, the other economic fundamentals that underpin new car registrations look set to remain positive. Used imports from the UK, though, are likely to remain a significant feature of the market and will undoubtedly displace new car sales once again. The surge in used imports from the UK effectively means that UK used car values are directly impacting on the values of domestic second-hand car stock, and this is making the cost of change to a new car more expensive which is also serving to undermine new car sales.”

Alan Nolan, Director General, SIMI commented: “The further fall in new car sales this year really couldn’t have come at a worse time from an environmental viewpoint, just as we are beginning to benefit from a wider range of Electric and Hybrid cars, at the very start of our transition to 2045 when it is projected that the entire fleet should be Zero emitting. The fall in Irish used car values due to the huge increase in imported used car volumes, as a knock-on from the weakening of Sterling resulting from Brexit, has made the cost to trade-up more expensive and has slowed-down our new car sales. 

It is crucially important that our used car values, and particularly diesels which represent 70% of our newest used cars, remain high, Brexit notwithstanding, as trade-in values will be key in ensuring that we can deliver on improving our future carbon and air quality performance from transport. Stable trade-in values will be crucial in relation to our ability to renew the national fleet and increase the penetration of Zero and Lower emitting cars. With all of this we remain confident that such new and nearly-new diesel used cars will continue to hold good values, as diesel remains the workhorse for business and those in rural Ireland. The reduction that we have seen in the diesel share of the new car market may potentially leave these in shorter supply for those buyers for whom they are the best transport and environmental option at present, which you would expect to have a positive upward pressure in relation to future values". 

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Have a listen to Jim Power comment on the Review
Clip 1 Comment on Imports
Clip 2 Comment on Industry Outlook
Clip 3 Comment on Brexit
 

Q4 Quarterly Review 2017
Issued 2nd February 2018

The Society of the Irish Motor Industry (SIMI) issued the Q4 Motor Industry Review of 2017 in association with DoneDeal, along with the SIMI official January 181 registration statistics. The review outlined that new car sales in for the first nine months of 2017 (totalled 128,578) declined by 10.2% when compared to new cars sold during the same period of 2016. Used imports remain a significant feature of the market so far in 2017, with imports 37.7% (70,821) ahead of the first nine months of 2016.

 

Car sales figures for the month of January show that 181 registrations are down -4.8% (37,125) compared to January 2017 (39,003). Light Commercials are currently up 6.3% (6,728) compared to January last year (6,329), while HGV (Heavy Goods Vehicle) registrations are down-11.84% (402) in comparison to January 2017 (456). The SIMI/DoneDeal Report highlights a number of price decreases in the cost of motoring. The average price of a new car in 2017 was 2% lower than a year earlier, while the cost of motor insurance in December 2017 was 10.9% lower than it was a year earlier. However, the cost of fuel increased with Petrol prices up 4.2% and Diesel prices up 3.6% last year. 

The report also shows Ireland’s strong economic performance last year but despite high levels of consumer confidence, the Motor Industry faced a significant and uncertain year with monthly declines in new car registrations figures, reflecting the substantial impact of Brexit. Used car imports increased by 29.5% in 2017 aided by the weakness in sterling and this also impacted on new car sales volumes by dampening the residual value of Irish used cars this increasing the cost to change for consumers.

Looking ahead to 2018 economic factors look positive however Brexit related uncertainty looks set to continue.

Q3 Quarterly Review 2017
Issued 1st November 2017

The Society of the Irish Motor Industry (SIMI) issued the Q3 Motor Industry Review of 2017 in association with DoneDeal, along with the SIMI official October 172 registration statistics. The review outlined that new car sales in for the first nine months of 2017 (totalled 128,578) declined by 10.2% when compared to new cars sold during the same period of 2016. Used imports remain a significant feature of the market so far in 2017, with imports 37.7% (70,821) ahead of the first nine months of 2016.

 

The SIMI/DoneDeal report highlights that despite the Irish economy performing strongly this year and the expectation of this positivity continuing into 2018, the Motor Industry is not by contrast mirroring this strong growth. New cars sales every month this year have been lower than their equivalent month in 2016. During the first nine months of 2017, new car sales declined in every county, with Mayo experiencing the largest decline at 19.28%, while Dublin had the smallest decline of 5.4%. New car sales in Dublin accounted for 41.63% of the total new car market, the report showed.
Click here to download report 
Click here to read press release 
"New car sales fall, used car sales increase amid concern over environmental impact"
Click here to download Press Infographic


Q2 Quarterly Review 2017
Issued 1st August 2017

The Society of the Irish Motor Industry (SIMI) in association with DoneDeal issued their second Quarterly Motor Industry Review for 2017.The SIMI/DoneDeal Report highlights.The SIMI/DoneDeal report highlighted that a combination of factors, including rising housing, rental and health insurance costs and uncertainty surrounding Brexit, were affecting disposable income spending and making consumers cautious about purchasing big-ticket items such as new cars.

      

Q1 Quarterly Review 2017
Issued 20th April 2017

SIMI/DoneDeal Motor Report "2017 proving unpredictable for Motor Industry"

The Society of the Irish Motor Industry (SIMI) in association with DoneDeal issued their first Quarterly Motor Industry Review for 2017. The SIMI/DoneDeal Report highlights the challenging and uncertain year that the Industry has faced with new car sales (-8%) and commercial vehicle sales (LGV’s -11% and HGV’s -3%) both reporting a decline in the first quarter of 2017 despite the Irish economic prospects looking better than at the beginning of the year.   

Click to hear Jim Power Economist & Author of the SIMI/DoneDeal Motor Industry Review Q1 2017

 

 

 

 

 


 


Motor Industry Reviews 2016

Q4 Quarterly Review 2016
Issued 1st February 2017

SIMI/DoneDeal Motor Report indicates steady start for 171 with registration numbers close to 2016


The Society of the Irish Motor Industry (SIMI) issued the official 171 car sales figures for January along with presenting their final SIMI/DoneDeal Quarterly Motor Industry Review of 2016. Alan Greene President of SIMI officially launched the report at the Clayton Hotel Dublin 4. 

Pictured: Cathal Cremen, Commercial Manager of DoneDeals Motor Section, Alan Greene SIMI President and Jim Power Economist and author of the SIMI/DoneDeal Review

Car sales figures for the month of January show that 171 registrations are -1.7% (39,019) compared to January 2016 (39,722). Light Commercials are currently -2.4% (6,394) compared to January last year (6,555), while HGV (Heavy Goods Vehicle) registrations are -6.3% (456) for January in comparison to the same time last year (487). 

The SIMI/DoneDeal Report highlights the strong economic performance of the Motor Industry last year, with growth in registration figures seen across all counties along with the upbeat nature of business confidence and investment reflected in commercial vehicles despite a softening of the market towards the latter half of 2016.

          Click here to download report

          Click here to view press release 

 

 

 



Q3 Quarterly Review 2016
Issued 8th November  2016

SIMI/DoneDeal Motor Report indicates strong 2016, but urges caution for 2017
SIMI has issued the third Quarterly Motor Industry Review for 2016 in association with DoneDeal, at the SIMI National Retailers Conference held in Killashee Hotel, Naas, Co. Kildare.


The SIMI/DoneDeal Report highlights the strong performance in the first half of the year for the Industry followed by a slowing down of new car sales from August onwards.  

Sales to the end of September 2016 were 143,190, up 18.4% on the first nine months of 2015.  Based on this the SIMI/DoneDeal report forecasts final sales of 147,000 for 2016 with a similar outcome anticipated for new car sales in 2017.   

 

Jim Power Economist and author of the SIMI/DoneDeal Report said: “The auto industry is still performing strongly, but there have been clear signs of deceleration in sales in recent months. Looking ahead to 2017, the outlook for car sales is extremely uncertain. New car sales in 2016 should be close to 147,000 and similar outturn for what is expected to be a very uncertain market due to Brexit effects.” 

The Review also indicates the changes in the costs of motoring since last year.  The cost of a new car has decreased by 3.5% since September 2015, while the cost of petrol is down 5.0% and diesel is down 4.6% in those 12 months. However the price of motor insurance has increased 25.1% since September 2015 and is up 68.7% since September 2013.   

The Review also indicates the changes in the costs of motoring since last year.  The cost of a new car has decreased by 3.5% since September 2015, while the cost of petrol is down 5.0% and diesel is down 4.6% in those 12 months. However the price of motor insurance has increased 25.1% since September 2015 and is up 68.7% since September 2013.   

 

Click Here to download complete report 

Click Here to view Press Release

 

 

 

 

 

 

 



Q2 Quarterly Review 2016
Issued 21st July 2016

SIMI has issued our second Quarterly Motor Industry Review of 2016 in association with DoneDeal.The SIMI/DoneDeal report highlights the strong performance that the Motor Industry has made in the first half of 2016 with the Exchequer collecting €978.4 million in VRT and VAT receipts from new and used car sales in the first half of 2016, which is 28.5% higher than the same period in 2015. Although there has been some deceleration as the year has progressed, the economic  outlook is still positive with total car sales forecast to reach 152,000 by the end of the year.  

Jim Power Economist and author of the SIMI/DoneDeal Report said: “Despite the still-positive economic outlook, growth in car sales could be low or maybe even flat in 2017. This slowdown in growth reflects a market approaching, but still lower, than its natural state, after a prolonged period of catch up, but one that is now shrouded in Brexit uncertainty.”

Q1 Quarterly Review 2016
Issued 20th April 2016

Good start for new car registrations as Industry moves towards normality
SIMI has issued their first Quarterly Motor Industry Review in association with DoneDeal for 2016. The SIMI/DoneDeal report highlights the progress that the Motor Industry has made so far this year while presenting an outlook for the coming year. 

The key drivers of new car sales look set to remain positive, with the current momentum of the Irish economy strong, employment set to increase, improved earnings and consumer confidence remaining positive. 

Against this background, Jim Power Economist and author of the SIMI/DoneDeal Report said: “New car registrations should be capable of expanding by around 25%, giving total sales of 156,181 for 2016. Looking ahead to 2017, while it is impossible to forecast that far ahead with any degree of confidence, another good year should be in prospect for the auto industry.”

           

                                               Motor Industry Reviews 2015
Q4 Quarterly Review 2015
Issued 1st February 2016

SIMI DoneDeal Quarterly Motor Industry Review Q4 of 2015 has been launched by  Brendan Howlin TD Minister for Public Expenditure and Reform.

Minister Brendan Howlin,  Mark Boggan SIMI President, Economist Jim Power and Cathal Cremen DoneDeal     Mr Brendan Howlin TD Minister for Public Expenditure and Reform

On the 1st February 2016 Brendan Howlin TD Minister for Public Expenditure and Reform officially launched the report at the Office of Wexford County Council. The SIMI/DoneDeal Report highlights the progress that the Motor Industry made in 2015 while the combined release of the 161 registration figures reflect the continued growth in sales which is helping the Industry to return to more normal levels of sales.

Q3 Quarterly Review 2015
Issued 10th November 2015

Economist Jim Power, Mark Boggan SIMI President and Cathal Cremen DoneDeal

Economist Jim Power author of the report outlined his findings for the SIMI/DoneDeal 3rd Quarterly Motor Industry Review at the SIMI National Retailers Conference and  his views for the Industry for 2016.

 

 

 

Q2 Quarterly Review 2015
Issued August 2015

In August 2015 Damien English, T.D., Minister of State at the Departments of Education and Skills & the Department of Jobs, Enterprise and Innovation with Special Responsibility for Skills, Research and Innovation, officially launched the 2nd SIMI/DoneDeal Quarterly Motor Industry Review. 

Economist Jim Power author of the report outlined his findings and opinions for the remainder of 2015. 

 

Q1 Quarterly Review 2015
Issued 1st February 2015

February 2015 Economist Jim Power launched his first quarterly report on the Irish Motor Industry for 2015.Jim presented the findings of his comprehensive report on the Irish Motor Industry in Q1 2015 and gives an analysis of the challenges and opportunities that lie ahead for the Industry.

2015 Quarterly Review Reports

During 2015 four quarterly Motor Industry reviews have been completed which provide a snap shot into the marketplace during that period in time.

First Quarterly Report Q1 2015 full report available click here
Second Quarterly Report Q2 2015 full report available click here
Third Second Quarterly Report Q3 2015 full report available click here
Fourth Quarterly Report Q4 2015  fulll report available click here

2015 Quarterly Review Presentations

 
Download Presentation Q1 2015                                     Download Presentation Q2 2015 

 
Download Presentation Q3 2015                                        Download Presentation Q4 2015 

2014 Quarterly Reviews Reports

During 2014 four quarterly Motor Industry reviews have been completed which provide a snap shot into the marketplace during that period in time.

First Quarterly Report Q1 2014 full report available click here
Second Quarterly Report Q2 2014 full report available click here
Third Second Quarterly Report Q3 2014 full report available click here
Fourth Quarterly Report Q4 2014  fulll report available click here

2014 Quarterly Review Presentations

     

        

Quarter 3 Motor Industry Review Presentation                         Quarter4 Motor Industry Review  2014 2nd feb 2015 

For press release, additional photos, and information click on