Business
New car sales up 31% for first month of year
The Society of the Irish Motor Industry (SIMI) official statistics for the first month of the year show that new car registrations in January are 31% (29,948) up on the same month in 2014 which should see sales comfortably exceed 100,000 at the end of the year, for the first time since 2008.
Current Industry projections indicate that new car sales should be close to 115,000 with Light Commercials, currently up by 70% (4,839) in January set to exceed 20,000, again for the first time since 2008. While HGV (Heavy Goods Vehicle) registrations are down 37%.
The figures were presented at an SIMI press conference launching the final SIMI Quarterly Motor Industry Review in association with DoneDeal, revealing the full year results for 2014 and the outlook for 2015.
Economist Jim Power, author of the review, is even more optimistic about 2015, forecasting the new car market at 120,000.
“After a number of very difficult years for the motor trade, the strong growth in car sales reflects improving consumer confidence and spending across the country. While we have not reached the highs of 2008, consumers are showing more confidence in the market and the indications are that we will continue to inch upwards this year provided economic and political conditions remain stable,” he said.
SIMI President James Brooks said that 2014 was a positive year for the motor industry, and the industry is confident that this growth will continue into 2015, which is borne out by the increase in vehicle sales in January 2015.
“Our industry is a key contributor to Government with the increase in new and used sales in 2014 collecting €965 million for the Exchequer, which in turn has helped to create an additional 3,800 jobs in the Motor Industry, up 10.1% since 2013. We hope that the improved business environment and the continued support of the Government will let the motor industry rebuild itself and will aid its recovery further in 2015,” he said.
Figures from the DoneDeal website also highlight the sustained upturn in the motor industry in 2014 with over 320,000 cars were advertised and sold on DoneDeal.
For more, read this week’s Galway City Tribune.
The new President of Local Ireland, the association representing local news publishers around the country, is Head of Irish Times Regionals Dan Linehan.
Mr Linehan takes over the presidency from Declan McGuire of the Connacht Tribune. His appointment was confirmed at the recent Annual General Meeting of Local Ireland at Bloomfield House Hotel near Mullingar, Westmeath.
Mr Linehan, who has served as Vice President of the organisation for the last two years, said: “The coming years are a very important time for local publishers with many important issues to be addressed, including the implementation of the Future of Media Commission recommendations, defamation reform, the role and support for local publishers in public service reporting and helping publishers develop commercial digital offerings.”
Speaking at the AGM, Mr McGuire acknowledged the work done by the Executive in the past two years under the direction of Executive Director, Bob Hughes, on several projects related to the publishing industry but most especially the successful conclusion of the long-running campaign for the abolition of VAT on newspapers.
He also wished Mr Linehan the very best in his new role as President of the association for the next two years.
Mr Hughes thanked Mr McGuire for his leadership and support during his term of office and said he looked forward to working with Mr Linehan on the key policy priorities for the association, including Government supports, Government advertising, fair remuneration for content from the tech platforms and the reform of the legislation for defamation.
Local Ireland members also elected Seán Mahon, Managing Director of the Southern Star, as Vice President for the next two years.
The shortage of affordable housing is the single biggest impediment in attracting and retaining workers in the West, according to business group Ibec.
At a ‘Regional Insights Series’ meeting in the Galmont Hotel in Galway last week, employers were told that capacity constraints and labour supply are the key challenges facing business growth in the region.
Ibec Head of Regional Policy Helen Leahy said: “There must be greater focus by government on enhancing quality of life issues such as housing and infrastructure which are driving labour shortages in the region.
“Ibec’s vision for the West is to realise its potential to become a globally competitive location. An inadequate supply of affordable housing is now the single largest impediment to attracting and retaining talented workers, without whom business investment and expansions are not possible.
“Labour shortages are a real concern for businesses in the region. People decide where to live and work based on quality of life and access to high quality services and amenities. Industry tends to follow talent, and in this regard, the region needs to have all the building blocks in place as the attraction and retention of world-class talent becomes increasingly competitive on a global level,” said Ms Leahy.
Amongst Ibec’s priorities for the West are:
- Addressing housing and infrastructure challenges
- Transitioning towards a new growth model with Net Zero energy powered by Atlantic offshore wind resources
- Adapting businesses to the new economic realities
- Enhancing capacity and skillsets to achieve sustainable development objectives
- Investment in people and skills
- Creating competitive advantage through digitalisation
- Innovation as a key driver of productivity growth
One in five Galway businesses want to go fully cashless, as the move towards card payments and tapping continues unabated post-Covid.
In all, 22% of Galway businesses would like to be fully cashless, according to a survey carried out by BOI Payment Acceptance (BOIPA), a provider of payment technology solutions, which asked Irish businesses about the current payment landscape as well as business confidence and concerns.
Over one-third (36%) of Galway businesses were unaware there is no contactless limit on mobile wallets – just below the national average – while 54% believe the increase in card over cash transactions has helped them run their business.
Six out of ten Galway businesses expect to grow this year despite the cost-of-living crisis and running costs dominating as key concerns; 62% believe their business will grow over the next twelve months despite global economic uncertainty.
Unsurprisingly cost-of-living increases and running costs were the main concerns the majority of businesses had.
For more, read this week’s Connacht Tribune.
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