Irish motorists ramped up their spending on UK car imports by 107% through the first half of 2019 when compared to H1 2018, according to Fexco Corporate Payments.

Fexco analysed more than 4,000 transactions made through its payments platform to unearth trends in car purchasing. It found that new car registrations slowed in 2019, as motorists opted to buy UK car imports thanks to a strong euro.

The number of UK vehicles imported by Irish drivers in H1 2019 rose by 74% on 2018 levels, while the average amount each buyer spent rose by a fifth to €17,709. That’s €7,708 (77%) more than they spent on average in the run-up to the Brexit referendum, in the first half of 2016.

Elsewhere, figures from the Society of the Irish Motor Industry (SIMI) show that new car registrations continue to slow across Ireland. A total of 80,712 new cars were registered during the first six months of 2019, down 7.4% on a year ago.

By contrast, the total number of used cars imported during the first half of 2019 rose to 53,120 – up 2.4% on the same time last year. The figures put Ireland on target to exceed the record annual total of 100,755 used cars imported in 2018.

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Fexco’s data suggests the import boom is being driven mostly by individual motorists rather than car dealers. It found that Irish car dealers increased their spending on UK imports by a modest 30% between 2018 and 2019, a jump less than one-third the size of the 107% increase recorded by motorists.

“While Ireland’s car dealers were the first to spot the buying opportunities offered by cheaper British imports, the savings are now attracting growing numbers of individual buyers too,” said David Lamb, head of dealing at Fexco Corporate Payments.

“The UK has a much greater supply of used and nearly new cars than Ireland, so a British used car will typically cost less than a similar model on this side of the Irish Sea.

“When you factor in the added purchasing power the strong euro gives Irish buyers looking to the UK for their next car, the case for buying British can be compelling.”