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Used Car Market in Decline in Ireland

Used Car Market in Decline in Ireland

By Happy Hippo

With the global recession hitting every one of us hard, it is no wonder that new car sales are down by over 60% in the Republic of Ireland since January 1st 2009 to date. This is not going to change in the near future either because.

Those that have money will not go out splurging it on expensive "title="New Cars">new cars (what would the neighbours say) and are adopting the attitude of wait and see what happens in the economy before spending the stashed cash.

Those that have used cars are also not changing their car unless its knackered or crashed and even then are repairing it instead. Ask any mechanic and he will tell you he has never been busier. So too are all those industries associated with the motor industry from the guy who repairs second hand clutches to the scrap yards and car dismantlers as recycling parts is now the in thing to do.

Before when Ireland was at its peak people were buying new cars or replacement cars when the repair bill was more than 200, getting a trade in on their old car and upgrading to a better car up in the years a bit.

Now however the pennies are tighter, banks aren’t lending and those who had no problem getting loans a year before now could’nt rent a bike as the credit dries up.
Recently brought to my attention was a guy who was trading in his 07 land cruiser because the tyres were bald. He could afford the repayments, but not the 1200 euro to replace his tyres.
Now the banks will not give approval on another vehicle and he’s stuck with a vehicle he can’t afford to repair and this is the case with lots of people in Ireland today. So what is to be done.

Simple answer is nothing as long as the economic crisis continues then the car dealers will not "title="Sell Cars">Sell Cars, new or used and will never see the record breaking figures of two years again.

Car dealers with cars for sale will now have these vehicles on their forecourts for a long time to come.Even those who have to "title="Sell Cars">Sell Cars for a living are being let go as the boss take up the roll he played in Irelands last recession durning the 1980s.