A new car registration system is being introduced from this month.

New cars will now be given plates to reflect which one of two annual buying periods they belong to.

It is likely to make car purchases in the late year more attractive to consumers who traditionally try and buy at the beginning of the New Year.

Meanwhile recently released figures show there were 3,098 new cars sold in August 2012 which is 4% down on August 2011.

New car sales for the year as a whole were down 12% with Toyota being the best-selling car make last year.

'Really good news for industry'

Alan Lyons is President of SIMI.

"The introduction of the new registration period is really good news for the industry" he said early last month.

"For several years, we have been highlighting the problem of seasonality in our industry, where 80% of new cars are sold in the first half of the year, forcing garages to reduce staff because of lack of business later on in the year".

"While we may not see a significant change in buying patterns in its first year of introduction, the new plate will have a hugely positive impact on the industry in the long-term" he added.

Alan Nolan from SIMI told Lunchtime here on Newstalk that as the economy recovers the 2-period registration system will deliver for the motor industry.

 

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