06 Jul 2022

Waterford jobs uncertainty after 'another disappointing month' of sales

'Significant' vehicle registration tax reduction needed to save Waterford jobs

SIMI has released its official new vehicle statistics

The Society of the Irish Motor Industry (SIMI) has released its official new vehicle statistics.

New car registrations for August were down 4.2% (4,875) when compared to August 2019 (5,088). Registrations year to date are down 28.6% (78,920) on the same period last year (110,527).

Light commercials vehicles (LCV) are down 11% (1,683) compared to August last year (1,891) and year to date are down 23.8% (16,700).

Heavy goods vehicles (HGV) registrations are up 20.13% (185) in comparison to August 2019 (154). Year to date HGVs are down 25.6% (1,641).

Used car imports for August (8,143) have seen a decrease of 16.1% on August 2019 (9,706). Year to date imports are down 45.1% (39,672) on 2019 (72,214).

SIMI director general Brian Cooke said: “August represents another disappointing month for new car sales, with sales again down on the same month last year, as they have been each month of 2020. This has led a year to date reduction of 29% in new cars sales and a 43% reduction over the last four years. The industry is operating at the same business levels as 10 years ago, when the sector shed close to 15,000 jobs.

"The outlook for 2021 is not optimistic. With the negative impact of both Covid and Brexit, new car sales will continue at recession levels.

"The motor industry in Ireland supports employment in local communities throughout the country and to protect these jobs it needs a fair taxation environment in which to operate. With Budget 2021 only weeks away, now is the time for a significant reduction in vehicle registration tax (VRT). This would enable the car market return to normal sustainable levels that would not only save jobs, but increase overall tax take and help renew the Irish car fleet, reducing both the age of the fleet and emissions from transport," Mr Cooke added.

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