The drop and fall in used imports is underscored by startling new figures

No wonder used cars are so scarce. The volume of used exports has plummeted. I knew they were down, but I was thrown back a bit by the latest figures from the Society of the Irish Motor Industry (SIMI).

Last year, used imports fell 26.9 percent to 46,490. That’s a big enough drop in itself. But rewind the years to 2019, when used imports were still soaring, and the full extent of how that supply line has narrowed is revealed.

Last year’s 46,490 registrations show a decrease from 2021’s figure of 63,617.

But the real nosedive in recent years is underscored by a 59.2 percent drop in 2019, when 113,926 used imports were registered, according to SIMI statistics.

Such imports, particularly from England, have shrunk as a result of budgetary tax measures.

As we know, this has helped fuel intense demand from the relatively few that make it to the market. It’s a perfect price storm with huge demand for new cars, also given the lack of microchips. We hope that 2023 will improve new car supply to allow more newer cars (trade-ins) to meet demand.