Car sales have zoomed into the fast lane with close to 100,000 motors being sold this year.
After years in the doldrums the motor trade is racing ahead with new cars flying out of showrooms across the country.
The number sold last year fell to a low of 74,303.
The industry has contributed €902million to the Exchequer from new car sales so far this year, creating up to 4,200 jobs.
As the economy gets back on track there are predictions it could top the 120,000 mark next year.
The increase in sales has led to a 30% rise in the amount of VRT and VAT collected in the year up to September.
The latest quarterly Motor Industry Review by the Society of the Irish Motor Industry and DoneDeal looked at the state of the industry and how other factors such as fuel and insurance costs impact on it.
The review found there had been a 3.9% decrease in petrol costs, a 4.6% fall in diesel prices and a 2.8% drop in new car costs.
However, motor insurance costs rose by 6.7% compared with 12 months ago.
SIMI director general Alan Nolan said the Government’s decision not to impose more bills on drivers will further boost the motor trade.
He added: “The decisions taken in the recent Budget have laid the foundations for continued steady growth in the industry during 2015.
“The better business environment in the sector this year has resulted directly from the improved consumer confidence and we would be very hopeful the market will continue to grow in response to the more positive outlook.
“Budget 2015 contained nothing directly related to the motor industry but indirectly it should help to support the market in 2015 by giving some support to consumer confidence and spending power, and by strengthening the emerging recovery in the economy.
