Somewhat against the run of play, the number of used cars being imported in January of this year actually increased. Previously, VAT was only levied on new, or at least nearly new, imported cars. And will the increased costs associated with imports drive up used-car prices here, just as cheap UK imports have been driving them down since 2016? Therefore we expect there to be both an increase in demand and the release of a certain amount of pent-up demand in the new and used car market. In the meantime, Northern Irish dealers are preparing for an influx of customers from “down south” once the current restrictions are relaxed.

Source: The Irish Times February 17, 2021 05:54 UTC