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The vehicle history expert, Cartell.ie, has revealed that the number of used vehicle imports into Ireland has surged in recent months, resulting in a 22 per cent increase in the number year-on-year.
Last month alone (May 2016), imports increased by a massive 51.23 per cent over the same month in 2015. April wasn't far behind, with an increase of 39 per cent. These figures contrast with a marginal (4.74 per cent) reduction in imports recorded by Cartell.ie for January this year.
However, Cartell.ie's research also shows that a devalued Sterling caused by the result of the Brexit referendum is unlikely to lead to a significant increase in the number of used vehicles imported. Instead, it will lead to buyers choosing newer models. Cartell.ie backs this up with data from its study in 2015 (studying imports and the value of Sterling over a seven-year period), which clearly revealed that the exchange rate did not strongly influence the number of imports from the UK, but did alter the age of the cars being imported. When Sterling was strong, Irish buyers chose older models; when Sterling was weak, they bought newer vehicles.
John Byrne, Cartell.ie, told CompleteCar.ie: "The results show that buyers looking abroad for a bargain are on a budget. When Sterling prices are weaker we are buying younger cars, and conversely when Sterling prices are stronger the Irish buyer is importing older vehicles. Interestingly we found no strong connection between the value of Sterling and the actual numbers of vehicles imported into Ireland over a seven-year period - but this study shows that Sterling does still impact the Irish market."