Statistics released by the Society of the Irish Motor Industry (SIMI) showed that during September 2009 there were 2,259 new car registrations, a drop of 34.67 per cent in comparison to September 2008’s figure of 3,458 new registrations.
The year to date number is down by as much as 63 per cent on the figure to end of September 2008 to 55,136 from 149,059.
SIMI figures also showed that the number of imported used car registrations for September also fell from 5,139 to 3,428, which is a drop of 33.29 per cent for the same month last year. For the year to September, 42,285 used car registrations were applied for, a fall of 18.71 per cent for the same period last year.
A spokesman for the Society of the Irish Motor Industry, Brian Cooke said, "We have been running at 63 per cent behind last year so 33 per cent down in September might appear to be somewhat of an improvement but this is not actually the case. The September figure needs to be viewed in the context of the sudden deterioration that occurred in September 2008, which was 47 per cent down on September 2007. The year to date analysis shows new car sales to be still 63 per cent down on 2008. This is at a level that cannot sustain the current level of employment in the motor sector. Our industry has continued to hemorrhage jobs with the number of jobs lost now totaling more than 10,000 since January 2008."
Car registrations continued to fall across the board, with the light commercial vehicle sector experiencing a drop of 35.05 per cent, down to 645 in September, from 993 for September 2008.
Heavy vehicle registrations were also down from 2009 in September 2008 to just 78 for last month, a decrease of 62.68 per cent.
Mr Cooke called on the Government to introduce a car scrappage scheme in January 2010, with predictions of a further 8,000 to 10,000 jobs being at serious risk. He said, "A scrappage scheme is a ‘no brainer’. It benefits the consumer, the Government, the industry and most particularly thousands of employees in every town across the country."
A recent study by economist Peter Bacon made observations that this loss of workforce would have a knock on effect with other sectors such as transport services, motor insurance services and post and communications.
San Mateo, CA — With $4-per-gallon gas a reality, more Americans are listing their SUVs for sale and looking to purchase more economical vehicles. For buyers seeking any new or used car or truck, Bills.com President Ethan Ewing suggests that consumers consider these nine tips before heading for the nearest auto dealership.
“A car can be a tremendous convenience and even a necessity in many U.S. communities,” Ewing said. “But it also can be another cause of financial problems for individuals who live on a tight budget. Being a smart consumer can help you make a better vehicle choice, and prepare for a better financial outlook.”
Ewing’s tips include:
1. Watch out for “we’ll pay off your trade-in” offers. A dealer who makes this offer will actually just add the amount of the loan on the vehicle you trade in to your new vehicle loan. “If your car has lost value quickly, or if you have had a new car for less than a year, the loan amount on your car may be more than its trade-in value - meaning you would you could be facing a big chunk of debt added to a new car loan,” Ewing cautioned.
2. Go low. At its most basic, a vehicle is a tool to transport you from place to place. It should work reliably, be safe, and have payments that fit within your budget. While society sometimes links cars with status, think about what you could do with the price difference between an older car and a BMW. Saving $200 a month on a car payment could add $14,400 to your nest egg in seven years - nearly enough to buy your next car outright.
3. Beware the hybrid temptation. Before jumping on the hybrid bandwagon, be sure you can afford it. All hybrid vehicles get better gas mileage than the same model with traditional technology, and are better for the planet. But they typically cost $3,000 to $6,000 more than their conventional counterparts. Some analysts suggest that hybrid buyers will only break even on the costs over the lifetime of the vehicle. If the cost is a strain, look at a conventional car that gets good mileage. For thousands of dollars less, you will still be saving money on gas and helping the environment.
4. Consider after-purchase costs. While researching a vehicle, call a few insurance agents for different companies and get their estimates of costs to cover the vehicles you are looking at. Some features and some vehicles cost more to insure. Check a site such as Edmunds.com, which presents “cost of ownership” figures that take into account maintenance and repairs.
5. Compare and negotiate. When it comes to a car purchase, “slow and steady wins the race.” Carefully research the cars that interest you, test drive them, and compare book prices and local offers. Contact several local dealers and ask them to fax or e-mail you their best price on your chosen vehicle, and consider online auction sites such as eBay for another way to shop around.
6. Use a broker. Another option to relieve the uncomfortable pressure of car sales is to work with a broker. A broker negotiates the car deal for a flat fee. Because the broker typically obtains a good price, the total cost is usually no more than you could negotiate yourself. You also avoid the hassle of negotiations. If you are a member of a credit union, warehouse or automotive club, ask the club if they offer similar services.
7. Check your credit. Before buying, check your credit report and credit score. If below average, you will pay higher interest rates. Taking a few months to pay bills on time can build up your score and get a better deal.
8. Review financing options. Paying cash for a car often is the best value — without interest payments, you keep your money. But if you have not saved up for a car, take the time to compare financing. Usually, your own bank or credit union will offer the best rates. But those with good credit might be able to benefit from special low- or no-interest financing from the dealership. Whatever you choose, look at several options and make your decision carefully, not under pressure from the sales team at the dealership. Go home and sleep on the deal if necessary.
9. Do not burn cash. Once you have your car, refrain from driving aggressively — it wastes gas and essentially burns up money. Basic frugal moves like combining errands, carpooling or taking public transit, or walking and biking when possible can produce substantial gas savings over time.
“A vehicle is a significant and important purchase,” Ewing said. “With the right planning and consideration, the choices you make will not drive a car-sized hole right through your budget.”
About Bills.com (www.bills.com)
Based in San Mateo, Calif., Bills.com is a free one-stop portal where consumers can educate themselves about complex personal finance issues and comparison shop for products and services including credit cards, debt relief assistance, insurance, mortgages and other loans. As the online portal to Freedom Financial Network, LLC, the company has served more than 40,000 customers nationwide since 2002 while managing more than $1 billion in consumer debt. Its RSS feed is available at http://www.bills.com/news_releases/.
Advertised new car prices are easy to find. But actual automobile sale prices, the final sale figures reached through dealer-seller negotiation, have been hard to pin down. Many new-car pricing sites, run by industry insiders rather than consumers, offer list or dealer-derived prices rather than real-life final sale prices.
Until now, that is. DealerDrop.com today announced the launch of its new car pricing site, an online community that allows consumers to view and share data on the final sale price of their new car. DealerDrop.com is an interactive web site designed to inform people about actual sales prices being offered on new cars, helping them to understand local pricing at a glance and allowing them to make smarter decisions when purchasing a new vehicle. The site empowers new car shoppers, allowing them to research other people’s final car sale prices to find out how much they should expect to pay for their new car.
DealerDrop’s simple interface and powerful search function features provide consumers with the ability to hone in on prices based on sub-model, dealership, and geographic area. In addition to finding actual new car prices, consumers are able to review and share additional information, including
– Specific pricing data for vehicles, down to the trim level
– Dealership performance ratings
Finding this information on DealerDrop.com is absolutely free, and does not require users to register.
“We created DealerDrop to allow consumers to discover quickly what the actual sales price for a new car in their area is— something none of the leading web sites provide,” said Eric Rafia, DealerDrop CEO. “In addition, we plan to add additional tools that take the headache out of the new car negotiating process.”
About DealerDrop.com
DealerDrop.com is a site focused on empowering automotive consumers, providing them with the tools and information needed to purchase a new car at a great price. DealerDrop.com brings new car shoppers together, allowing them to share their pricing and buying experience data. To search the DealerDrop database, visit www.dealerdrop.com.
