Republic's car market to 'race ahead'

20 May 2002: Market research company Mintel forecasts real growth in new car sales to be 19% in in the Republic between 2001 and 2006. In Northern Ireland, the market is forecast to settle into a cyclical pattern of variable growth and decline. The year 2002 is forecast to be better than 2001 by 9% while 2003 is forecast to be 2% lower than 2001.

The Republic's market is so far running some 6 percent lower than last year.

"The grey area that casts a shadow over the future of the car market in Ireland is the changes to block exemption later this year," says Mintel consumer analyst Michael Kendall. "The opportunity this presents new players to capture a share of the Irish car market will only add further pressure to the margins and profitability of the dealership structure."

Established for over 30 years, Mintel publishes over 500 reports a year, covering retail, leisure, food & drink and finance.

May 2002