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Birmingham Post
Birmingham Post
Business
David Elliott

Northern Ireland new car sales slide as cost-of-living bites

New car sales in Northern Ireland fell sharply last month, according to the latest data from the Society of Motor Manufacturers and Traders (SMMT).

It said the number of new cars registered in the province in July fell 15% to 2,759, further indication that inflationary pressures are denting the appetite for so-called “big ticket” items such as new cars.

The fall was replicated in both England and Scotland last month, although Scotland managed to hold relatively strong with registrations falling by only 0.3%. And while the drop for July is marked, Northern Ireland’s year-to-date registrations of 23,898 is just 0.82% down in the same period last year.

However, the soaring price of everyday goods, particularly energy, means drivers may need persuading to commit to a new car. Denting the mood amongst potential buyers further is the latest forecast from the Bank of England which revealed its expectation that inflation could climb to 13% in coming months and an accompanying 0.5% hike in the UK interest rates.

On a local basis, the latest forecast from Dankse Bank UK confirmed the gloomy outlook for future finances. It said only 22% of consumers it surveyed expect to spend more on expensive items over the next year, compared with 49% which expected to spend less.

When it comes to the make of car those that who are buying are opting for, the league table is topped by the Hyundai Tucson, 713 of which have been sold in Northern Ireland so far this year. In second place is the Ford Kuga with 649 and in third place another Hyundai, the Kona, with 546.

Top 10 New Car Registrations in Northern Ireland

Rank

Marque

Range

Year To Date

1

HYUNDAI

TUCSON

713

2

FORD

KUGA

649

3

HYUNDAI

KONA

546

4

VOLKSWAGEN

GOLF

523

5

RENAULT

CAPTUR

502

6

FORD

PUMA

494

7

DACIA

SANDERO

486

8

VAUXHALL

CORSA

429

9

TOYOTA

YARIS

418

10

PEUGEOT

3008

411

TOTAL YTD

23,898

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