New car sales figures in Northern Ireland have hit a nine-year high according to the SMMT A LATE acceleration in pre-Christmas sales has led to new car registrations in Northern Ireland hitting their highest total in nearly a decade. Some 2049 cars were registered in Northern Ireland in December taking the total sales for the year to 57324 according to figures from the Society of Motor Manufacturers and Traders (SMMT). Thats more than 200 more than in the whole of 2015 and is the highest figure for the region since 2007 when 68708 new vehicles drove away from showrooms. It comes as new car sales in the UK as a whole reached an all-time high for a second consecutive year (up 2.3 per cent on 2015 to 2685724) driven by strong consumer confidence low interest finance packages and a raft of new models. But some within the motoring industry fear the UK is at the peak of a car bubble And SMMT chief executive Mike Hawes cautioned that registrations could decline by five or six per cent in 2017 because we have to recognise that growth cant be inexorable and there is undoubtedly a levelling off. More than 85 per cent of new cars bought in the UK are imported and their cost is gradually going up due to the reduction in the value of the pound Mr Hawes said. Although manufacturers hedge against currency risk and absorb some of the additional costs there have been price rises of 2 per cent or 3 per cent he added. Mr Hawes expects 2017 car sales to be lumpy adding that although the triggering of Article 50 for the UK to leave the EU would probably not immediately have an impact on purchasing patterns he acknowledged that we have not seen the full effects of Brexit. Jim Holder editorial director of magazines Autocar and What Car? described the 2016 figures as very positive saying the expected Brexit bump was mostly negated. He said some people within the automotive industry are warning that sales could drop by 10 to 15 per cent this year so manufacturers would be very pleased if the SMMTs prediction of a 5 or 6 per cent drop-off proved accurate. Read more:http://www.irishnews.com/business/2017/01/05/news/pre-festive-new-car-splurge-sees-registrations-in-northern-ireland-hit-nine-year-high-866986/ Call us for a cash for cars quote The post Pre-Christmas new car splurge sees registrations in Northern Ireland hit nine-year high appeared first on http://belfast.cashforcarsireland.com/ via Cash For Cars - Locations http://belfast.cashforcarsireland.com/pre-christmas-new-car-splurge-sees-registrations-northern-ireland-hit-nine-year-high/