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Automotive Report Ireland

  • ID: 2138394
  • Report
  • Region: Ireland
  • 12 Pages
  • The Economist Intelligence Unit
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Ireland's automotive market is relatively large, despite a population estimated at just 4.7m. The country has close commercial and cultural ties to the UK, Europe's fourth-largest vehicle producer. Like the UK, Ireland is a right-hand drive market. Ireland has no vehicle assembly capacity and is dependent on vehicle imports. There is a small automotive components sector, but even this has shrunk in recent years. With the UK preparing to leave the EU (Brexit), the automotive market will undergo considerable changes.

The Irish vehicle market went through considerable volatility during a series of economic and financial crises that began in 2007-08. After bottoming out in 2013, the market recovered strongly in 2014-16. This recovery came to an abrupt end in 2017, when the number of new passenger vehicles sold dropped by 10.4%. Sales of commercial vehicles (CVs) fell by 11.8%. Car sales continued to decline last year as well, by an estimated 4.4%, while CV sales increased by an estimated 5%. Annual vehicle sales remain well below 2007-08 levels.

The market underperformed despite robust economic growth averaging more than 10% in 2014-18. This weakness in vehicle sales was largely due to uncertainty stemming from the Brexit process in the UK, which is affecting Ireland politically and economically. Although pent-up demand for vehicles is still strong and interest rates are historically low (and will not be raised until at least late 2020), we expect the market to remain subdued as the economy slows. GDP growth will average only slightly more than 3% during The Economist Intelligence Unit's 2019-23 forecast period.

Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles, Automotive, Production
Industry Codes (NAIC): 336
Industry Codes (SIC): 37
Note: Product cover images may vary from those shown
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Automotive Report Ireland

Automotive report: Overview

Automotive report: Passenger cars

Automotive report: Commercial and other vehicles

Automotive report: Production

Automotive report: Fuel sources
Note: Product cover images may vary from those shown
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