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NEW CAR SALES in Ireland have jumped by 24% in the first six months of the year, with almost 66,000 vehicles sold so far in 2014.
Industry website motorcheck.ie said that if the trend continues to the end of the year new car sales could clear 90,000 for the year.
The increase is largely being driven by positive consumer sentiment returning to the economy in the latter stages of last year, with many buyers deciding to go ahead with purchases that they had been putting off during the recession.
Data from the CSO shows that the auto trade has been among the strongest performing sectors in the economy, with spending on cars a main driver of resurgent retail spending so far this year.
Motorcheck.ie managing director Michael Rochford said that the market is also being helped by trade-in and vendor finance offers currently being pushed by major manufacturers.
He said that around 26% of new vehicle purchases are completed with the aid of some sort of vendor finance.
The top selling brands in Ireland so far this year are Volkswagen, Toyota, Ford and Hyundai, with the VW Golf, Nissan Quashqai, Ford Focus and Toyota Corrolla the most popular models.
Businesses are also re-investing in commercial fleets, with a 43% increase in units shifted during the first half of 2014, with the Ford Transit, Volkswagen Caddy, Citroen Berlingo and Land Rover discovery leading the pack in sales.
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Buying Bonds, bailouts etc. are just fancy language for paying large groups of people for living at a standard of living not justified by their daily work activity. ”Something for nothing” defies the basic law of barter.
Tom who is this large group of people your talking about? The reason Spain, Ireland, Italy needed bail outs was not because of your ordinary everyday working man on the street. More because of poor regulation greedy bankers/politicians/developers.
Sean At least developers create tangible results for society even though yes some of them would be on the very long list of those who lived beyond their ”produced” means
Monetization of debt is the duty of a central bank. There is nothing wrong of dubious about this. Printing money lowers the borrowing cost of Ireland, Spain etc.
I agree with you Tom developers create tangible results for society, but do not forget they also produce good intangible results through Human Captial.
Money can be two completely different things and this makes discussion difficult. Taking money as being a means of exchange printing volumes are decided on to make sure the ATM s etc have sufficient stock. Taking money as a store of value requires a very different approach. The assumption in the latter case is that if humans increase the amount of tangible goods etc. that this can be measured numerically and the numbers increased to reflect this.
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