February 16, 2011
By Staff Reporter
By Andrew Bushe
DUBLIN — As the spending boom continued, the number of new cars bought in Ireland last year soared by 32 percent to a new record figure, according to the Central Statistics office.
The economic boom led to over 225,000 cars being licensed last year, compared to 170,000 in 1999.
Spending on new vehicles by businesses also jumped by almost 12 percent and it was only in the more depressed agricultural sector that sales were not so buoyant with tractor purchases only up 2 percent on the previous year.
Analysts say the huge spending spree is partly the result of many younger people being unable to afford the soaring prices of homes and apartments and instead deciding to use their savings or borrowing capabilities to upgrade their cars.
The rush for new cars hit the second-hand market with the number of previously owned cars being registered plummeting by almost 35 percent to 24,000 compared to almost 37,000 in 1999.
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The new car market was led by Toyota (25,189), followed by Ford (25,064), Nissan (23,231), Volkswagen (22,538) and Opel (21,205).