10 Aug 2022

Waterford's new car market drops by 4.4% for first five months of 2019

Official statistics released today by the Society of the Irish Motor Industry (SIMI) show that Waterford's new car market is one of the best-performing in the entire country, showing the third lowest drop year on year.

The SIMI figures show nationally that total new car registrations for the month of May are up 4.7% (6,341) when compared with May 2018 (6,055). New car registrations in the year to date, however, are down 7.6% (79,343) on the same period last year (85,868), but Waterford has bucked that trend slightly.

2,238 new cars were registered in Waterford between January 1 and the end of May this year, down slightly from the 2,342 sold during the same period in 2018. That represents a 4.4% drop, the third-lowest recorded after Louth (2.4%) and Dublin (3%).

Elsewhere, new light commercial vehicle (LCV) registrations are up, 5.2% (1,726) on May 2018 (1,641), with registrations year to date down 8.4% (14,617). While new heavy commercial Vehicles (HGV) sales increased by 31.3% (298) in comparison to May 2018 (227) and year to date are also up 7.7% (1,491)

Imported Used Cars for May increased 4.1% (9,346) on the same month last year (8,978) while year to date imports are 3% (45,062) ahead of 2018 (43,739).

New electric vehicle registrations continue to grow month on month with a total of 1,902 EV cars registered so far this year, surpassing the total number of EVs registered for 2018 (1,233).

Commenting on the registrations figures Brian Cooke, SIMI Director General said: “Registrations for the month of May, both cars and light commercial vehicles, showed an improvement on May of last year, although the increase in numerical terms was relatively small."

"However, sales overall year to date have been disappointing with both business and consumer Brexit related uncertainty contributing to dampened demand for new vehicles. As we move into June the Industry is now focused on preparations for the start of the July 192 registration period."

"This will see a variety of strong offers to consumers across all brands, and in this environment, consumers will have a wide choice of cars to choose from at a really competitive price.”

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