The Irish Independent reports that more people bought second-hand imported cars in September than new models. This has sparked fears from SIMI that a further 10,000 motor industry jobs could be lost, if the government does not act to stimulate demand.

September saw just 2,272 new private cars licensed, compared to 4,364 in the corresponding month for 2008. In contrast 3,338 second hand imported cars were registered, a figure down on last year but still a major worry to Irish dealers. Of particular concern to the luxury brands is the growing trend to import used prestige models. For example Audi and BMW imports outnumbered new models sales by a factor of 5 to 1.

Overall sales for the first three quarters of 2009 stood at 67,790 for new vehicles and 62,649 for used imported vehicles. In previous years the sales ratio would have been some 3 to 1 in favour of new models.  New sales for the year are estimated to finish at around 63% of last year’s levels.

Irish Independent