Five reasons why used car prices are on the rise
Cars typically start to lose value as soon as you drive them off the forecourts so what is happening this year? Here are some of the factors influencing used car prices. 1) Brexit Following months of negotiations, a Brexit deal was finally secured last Christmas Eve. However, it was not good news for car buyers and now if importing a car from the UK you have to pay VAT and in some cases customs duty of 10%. As are result in...
Factors shaping Motoring in Ireland
Many issues are influencing the production and supply of cars, writes Geraldine Herbert CHANGES TO VRT Changes announced in Budget 2021 to the Vehicle Registration Tax (VRT) system, including the creation of nine new rate bands, came into effect on January 1. Designed to incentivise motorists to move away from higher polluting vehicles, CO2 bands now go from 7% to 37%. Cleaner vehicles like plug-in hybrids and electric cars that emit...
Five ways a Hard Brexit will impact on Motoring in Ireland
What are the implications for car buying and Motorists in a post no-deal Brexit writes Geraldine Herbert? Importing a car from the UK will become more expensive Over 100,000 used cars were imported last year from the UK and Northern Ireland. A no-deal Brexit would mean that UK car exports to the EU would become subject to a 10% tariff under World Trade Organisation rules. There would also be VAT Charged. The customs duty is applied...
What is the new NOx Charge?
What will the new NOx charge mean for car buyers asks Geraldine Herbert A new tax based on Nitrogen Oxide (NOx) emissions was introduced on 1 January 2020. The charge is applicable to all vehicles excluding electrics but including hybrids and will be applied to new car purchases and used imports. It will replace the current 1 per cent diesel surcharge. The charges will be applied on a per-milligramme basis on a car’s officially...
10 things to know about car sales in 2019
New sales down as car buyers look to imports writes Geraldine Herbert In the first five months of the year, there was a 7.6% decrease in new cars sold in comparison with the same period last year. To the end of May this year, 79,324 new cars have been sold – down from 85,868 in 2018. While new car sales are likely to reach about 110,000 by the end of the year, car imports are set to exceed the 104,000 mark, so 2019 may end with...
