Motor registrations fall ahead of tax cut

Motor vehicle registrations fell again compared with the year earlier in October, as buyers waited for the cuts in excise duties which were passed in early November.

In October 2006, registrations of motor vehicles fell by 30.8% compared with October 2005, to 2,433, from 3,516 in October 2005.

For the period January-October 2006, total registrations fell by 2.7% to 40,476, from 41,600 in January – October 2005.

In the first ten months of 2006, the number of registered private saloon cars decreased to 28,824 from 31,362 in January-October 2005, marking a decrease of 8.1%.

The House of Representatives approved huge cuts in excise duties on both new and used cars in early November.