August Car Sales Up 28%
New car sales through August finished 28% up on last year with 4,708 units sold, according to Motorcheck.ie.
Year to date sales are ahead by 27% (86,727 units) against 2013 and commentators expect sales to be in excess of 93,000 units by year end.
However the trends emerging from the new dual registration system seem to show that after the July boom sales fall off sharply in the remaining months of the year.
Michael Rochford, Managing Director of Motorcheck.ie, said this is great news for the new car buyer looking to bag a bargain before year end. “Buyers should expect a little more room to manoeuvre when negotiating,” he said.
“For used car buyers, the coming months will also be ripe with opportunity to bag that bargain. Buoyant new car sales also means lots of trade-ins arriving on dealer forecourts.
“What this translates into for used car buyers is choice, which always allows prices to deflate a little and increases the buyers scope for haggling. The impending winter months also means dealers are keen to move this stock before the slow Nov-Dec period.”
Rochford urged buyers of second hand cars to exercise caution and perform some basic background checks before they part with their cash.
He estimates that approximately one sixth of second hand cars being sold have outstanding finance owing. “That means that if the previous owner defaults on their repayments, even though you have done nothing wrong, the car can be repossessed without any recompense to you.
“Buying a car with outstanding finance could be the most costly decision you ever make. So get any potential purchase checked first. If there's money still owing on, walk away.”
Rochford added: “Ask to see the spare keys for the car and ensure that they fit and work properly. A lack of a spare set, or multiple keys on the key-ring for various doors as well as the ignition, could potentially be a sign that the car has been stolen.
“While there can be an innocent explanation too, your antennae should be up at this point and you should be asking questions.” (September 2014)