SIMIDoneDeal Quarter 4 Motor Industry Review 2015 & January Car Sales 2016
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Transcript of SIMIDoneDeal Quarter 4 Motor Industry Review 2015 & January Car Sales 2016
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WELCOME
SIMIQ4 Motor Industry ReviewIn association with DoneDeal
1st February 2016
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Q4 2015ReviewLaunch
Brendan Howlin, T.D., Minister for Public Expenditure and Reform
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WelcomeAddress
Mark Boggan President SIMI
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January Sales
Mark Boggan President SIMI
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Motor Industry Registrations 2016
• New Car Sales up 33%(39,812)
• LCVs up 34%,(6,589)
• HGVs up 138% (492)
• Car Hire up 38% (1,714)
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Q4 2015Review
Explained
Jim Power Review Author & Economist
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Ireland - GDP & GNP (S/A)
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The Irish Economy in 2015• Compelling economic recovery – more broadly based• Consumer stronger, but price compression still relevant• Strong car sales +30%• Strong merchandise exports +21.2%• Labour market much better 8.8% Unemployment rate• Consumer confidence at 10-year high• Tax Revenues +10%• Construction activity improving• Q1-Q3 GDP +7%• Prospects for 2016 positive – but careful management
required as external risks are stark
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Ireland-Unemployment Rate (%)
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Ireland-Employment (S/A)
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Consumer Confidence
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The Ongoing Challenges for Ireland • Oil, € weakness, Interest Rates, US & UK growth all good for Ireland –
factors outside of our control• January difficult month for global economy - China a concern, UK & the EU• Regional balance• Satisfying demand for housing• Competitiveness – broadly defined - must be the constant focus• Preserving the FDI model• Credit model for the SME sector • Sovereign & Personal Debt• Political instability and poor policy – popular policies are rarely good
policies
• Economy is moving in right direction, but cautious management needed
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Sterling v Euro
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Brent Crude
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The Motor Industry in 2015
• New car registrations 124,945 +29.8%• Q4 registrations +22.7% • LCVs +41.8%; HCVs +4.4%• Imported Cars -11%: down 25% from 2008
peak• Costs of motoring variable > Petrol, Diesel, Car
Prices down; Insurance Costs +30.7%• Strong revenue contribution
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What is Driving Sales?
• Economic recovery• Recovery in labour market• End of fiscal adjustment process• Strong consumer confidence• Functioning credit model• Strong tourism performance• Catch-up still ongoing
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The Cost of Motoring
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Employment in Motor Trade: +5,100 Q3 2009
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The Economic & Financial Contribution
TAX CATEGORY 2015 (€ mln) 2014 (€ mln) % CHANGE
VRT 679.05 572.31 +18.7%
VAT 511.03 392.43 +30.2%
TOTAL 1,190.08 964.74 +23.4%
Total Revenue generated by the Motorist €5.4 Billion for the Exchequer 2015
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Light Commercial Vehicles
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New & Imported Cars
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DoneDeal Advertising – Strong Growth
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Prospects for 2016
• Solid economic growth GDP +4.5%• Employment +3%• Personal Disposable Incomes +7%: boosted by
employment growth, higher earnings & Budget 2016 tax changes
• Consumer confidence set to improve further• Interest rates will remain low, credit will improve• 152,500 (+22%) in 2016• 175,375 in 2017 (+15%)
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New Car Registrations
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Thank You!
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SIMIMember Survey Explained
Alan Nolan Director General SIMI
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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SIMI Members Survey Jan 2016
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Thank You
• Quarter 4 Motor Industry Review available now at www.simi.ie/quarterlyreport
• January Registration available at www.beepbeep.ie/stats