The Used Car Market in Ireland

Used Cars have dominated the Irish car market in recent years, with more being spent on used cars in 2018 than ever before. This trend is reflected in used car sales figures, but also the drop in new cars being bought in this country. August 2019 figures from SIMI reflected a 13.3% decrease in new car registrations compared to August 2018. There was a correlation between this and an 8.5% increase in used or imported cars in Ireland in the same month, continuing a strong period for used cars dating back to last year.  

Tax has also been a contributing factor in the rise of used cars. Brian Cooke, SIMIs Sales Director commented in July about how “Ireland's taxation system overburdens new cars, causing motorists either to hang on to their older smokier cars or look to the UK for an older import."

Brexit has further put stress on the price of Sterling, and Irish consumers have been quick to take advantage of a favorable exchange rate. This coincides with most forecasting of the market post a potential hard Brexit. Industry experts are predicting that the number of used cars available for import from the UK to Ireland after the 31st of October will reduce significantly. This represents a large potential for a drastic shift in the Used Car market in Ireland.