Actions have consequences. The Irish car market is unwell.
It’s about three years since I wrote one of these analyses. Back in 2017, when I last did so, the side-effects of Britain’s referendum decision had yet to filter through in any meaningful way. However, some three years later the effects are plain to see. Because despite being outwardly one of the better performing EU member-states of late, the Republic of Ireland’s economy has been hobbled, without Britain having left the EU at all.
Amongst the sectors adversely affected, the car market is amongst the most apparent. Having been on a steady post-crisis growth curve up to 2016, with deliveries that year of 146,672, car sales have bucked more favourable economic trends, aligning closer with Sterling’s value against the Euro – a state of affairs resulting in a significant fall in new car sales with all the resultant knock-on effects that brings. Continue reading “Drowning By Numbers”