Almost half of Irish people (45%) plan to buy a car in the next year according to the latest Motoring Report from car buying experts, Carzone.
The Carzone Motoring Report is compiled by analysing data from the 108 million searches carried out on Carzone in the first 10 months of the year, as well as an in depth survey of 1,610 Irish motorists nationwide.
The outlook for the motor industry is positive according to the latest Motoring Report from car buying experts Carzone. The bi-annual index which examines trends in the Irish motoring market, finds that almost half of Irish people (45%) plan to buy a car in the next year.
Of those planning to buy a car in 2017, 28% say they intend to spend €10,000 - €20,000 while a significant 27% say they will spend between €20,00 and €40,000. Given that over 1 in 4 are planning to spend up to €40,000, it’s no surprise that 2016 is the most searched for year at 16% while 2012 is the second most popular year at 10%.
According to the Carzone Motoring Report, a quarter will use savings to buy a car next year while 1 in 5 intend to take out a loan from a Credit Union and 13% will look at a finance option such as PCP indicating that all finance options are on the rise.
Of those planning to sell their car next year, over 1 in 5 (22%) will do so online while 37% will sell their car as part of a trade-in. In general, men are more confident about selling their car online than women (49% vs. 29%)
While the impact of Brexit on the industry remains to be seen, a resounding 91% of those questioned say that it has not impacted or delayed their decision to buy a car next year.
The Volkswagen Golf remains the most searched for used car on Carzone. However, the Ford Focus which featured in second place last year, has been moved down to fifth place. New to the top six this year is the Audi A4 and the Mercedes E-Class indicating the growth of the premium used car market.
The top 6 most searched for cars on Carzone in 2016 are:
1. Volkswagen Golf
2. BMW 5 Series
3. BMW 3 Series
4. Audi A4
5. Ford Focus
6. Mercedes E-Class
Commenting on the latest report, Brand Manager Carzone, Ailish Tully said, "The report finds that overall the outlook for the industry is positive with almost half of people questioned planning to buy a car in the next year. It was also interesting to see that newer models were some of the most searched for cars in the first 10 months of the year and that over 1 in 4 are willing to spend between €20,000 - €40,000."
She added, "This higher price point is also reflected in our car searches with a number of premium marques such as BMW, Audi and Mercedes featuring in the top six."
Source: www.businessworld.ie
