The Society of the Irish Motor Industry (SIMI) and DoneDeal.ie have joined forces to survey the Irish car market and have concluded that not only are new car sales continuing to grow at an exceptionally strong rate, but that it will also add as many as 5,000 jobs to the economy by 2017.
The bald figures are that the overall market has risen by 27 per cent in the first quarter of the year, with Leitrim showing the strongest per county growth and Dublin (oddly) showing the weakest. Petrol and diesel prices have both fallen slightly, but, worryingly, insurance premiums are up by just over four per cent.
Economist Jim Power, who compiled the review based on information from SIMI and DoneDeal.ie said: "All in all, having experienced a dramatic decline in its fortunes, the Motor Industry is back in growth mode again and confidence within the industry is currently stronger than it has been for some time. This is important for national and regional economic activity, employment and Exchequer receipts."
Anything else?
Already this year the Government has taken in over €453 million in taxes from new car sales alone. This represents five per cent of the total tax take for the country in the first three months of the year.