Motor Industry calls for action on Insurance costs and underlines the importance of stability ahead of Budget 2017

The Society of the Irish Motor Industry (SIMI) has issued the official car sales figures for the month of September which saw 162 registrations decrease by -1.4% (4,698) compared to September 2015 (4,766). Total New car registrations year to date are up 18% (143,205) ahead on the same period last year (120,961).

Light Commercial Vehicles (LCV) are up 20% (26,171) year to date, while the month of September has seen a slight increase of 3% (1,634) in comparison to the same month last year (1,582). Heavy Goods Vehicle (HGV) registrations, have recorded a 16% increase for the month of September (213) 2016 when compared to September last year (184), with registrations up 38% year to date (2,646).

Commenting on the figurers SIMI Director General Alan Nolan said
“ As an Industry which employs 42,000 people nationwide and collects in excess of €5 Billion in Taxes for the State, what we need next week is a Budget that supports stability and lifts consumer confidence again. After several difficult years it is important that the Economy and our Industry do not see a downward trend after the progress of this year. Consumer and business confidence are crucial in driving economic activity so any negative decisions in the forthcoming Budget will directly impact on activity, on employment and on tax revenues in 2017.

Despite the continuing reduction in the overall cost of motoring, the significant increase in the cost of motor insurance premiums for consumers and for businesses must now be a serious concern across all sectors. Since 2013 Motor Insurance Premiums have increased by 71.3% and in the past 12 months alone, increases have been running at 38.6%. With further significant increase in premiums predicted, this will continue to unfairly burden motorists and businesses, and is a particularly serious issue in the case of younger drivers and those on lower incomes. Our experience of previous periods of high insurances costs suggest that car maintenance will reduce, increasing the risk of accidents and the incidence of uninsured driving is also likely to increase. In the past when we had similar problems the establishment of the Motor Insurance Advisory Board (MIAB) and its recommendations (2003) delivered significant reductions and improved the level of transparency in relation to the factors contributing to insurance costs. SIMI is calling for the re-establishment of the MIAB as a matter of urgency. We commend the work of the recent Oireachtas Committee hearings and the current CCPC investigation. However immediate wider-ranging action is urgently needed. In this regard while we await the re-establishment (hopefully) of the MIAB, the Society also feels that the CPCC’s Consumer section should undertake out a general review, from consumers’ perspective, of motor insurance premiums seeking to highlight the issues, including underlying costs, which give rise to the current high level of motor insurance premiums and to make recommendations to the Minister in order to ameliorate the situation. Recent reviews of insurance costs in the UK, has seen their motor insurance premiums fall to levels that are now lower than three years ago.”

 

Stats in short:
• New car sales year to date (2016) 143,205  (2015) 120,961 +18%
• New car sales total September (2016) 4,698 (2015) 4,766  -1.43%
• Car Sales by county year to date Click Here

New Passenger Cars by County Year to Date
County 2016 Units 2015 Units % Change 2016 % Share 2015 % Share
Carlow 1731 1448 19.54% 1.21% 1.2%
Cavan 1576 1363 15.63% 1.1% 1.13%
Clare 3105 2589 19.93% 2.17% 2.14%
Cork 18478 14881 24.17% 12.9% 12.3%
Donegal 3453 2924 18.09% 2.41% 2.42%
Dublin 56406 48765 15.67% 39.39% 40.31%
Galway 5730 4988 14.88% 4% 4.12%
Kerry 3183 2640 20.57% 2.22% 2.18%
Kildare 5930 4964 19.46% 4.14% 4.1%
Kilkenny 2784 2322 19.9% 1.94% 1.92%
Laois 1741 1442 20.74% 1.22% 1.19%
Leitrim 621 557 11.49% 0.43% 0.46%
Limerick 5103 4224 20.81% 3.56% 3.49%
Longford 712 628 13.38% 0.5% 0.52%
Louth 3113 2691 15.68% 2.17% 2.22%
Mayo 2765 2362 17.06% 1.93% 1.95%
Meath 4558 3633 25.46% 3.18% 3%
Monaghan 1217 1042 16.79% 0.85% 0.86%
Offaly 1850 1504 23.01% 1.29% 1.24%
Roscommon 1393 1064 30.92% 0.97% 0.88%
Sligo 1304 1101 18.44% 0.91% 0.91%
Tipperary 4076 3455 17.97% 2.85% 2.86%
Waterford 3631 2910 24.78% 2.54% 2.41%
Westmeath 2168 1864 16.31% 1.51% 1.54%
Wexford 3430 2883 18.97% 2.4% 2.38%
Wicklow 3147 2717 15.83% 2.2% 2.25%

 

  • 5 Top Selling Makes for the Year 2016:
    1. Hyundai 2.Volkswagen 3.Toyota 4.Ford 5.Nissan
  • 5 Top Selling Models for the Year 2016
    1. Hyundai Tucson, 2.Volkswagen Golf, 3.Ford Focus, 4.Skoda Octavia 5. Nissan Qashqai
  • Top selling car for the month of September Volkswagen Golf and year to date is Hyundai Tucson
  • Light Commercial Vehicles sales year to date (2016)26,171 (2015) 21,770 +20%
  • Light Commercial Vehicles sales total September (2016) 1,634 (2015) 1,582 +3%
  • Heavy Goods Vehicle total sales year to date (2016) 2,646 (2015) 1910 +38.5%
  • Heavy Goods Vehicle sales total September (2016) 213 (2015) 184 +15.76%

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