July 24, 2017, 4:21 p.m.
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Data from its foreign exchange unit indicate imports of used cars from the UK are now running at 7,500 a month – up from 5,500 over the first half of 2016.
Spend on motor imports has more than doubled over the first half of 2017.
The FEXCO numbers suggest buyers are spending substantially more on imports from the UK than last year.
Its research indicates the average price paid has risen from €9,133 to €12,071 based on analysis of a sample of 2,000 transactions between January and June.
FEXCO also recorded a surge in imports of UK cars by Irish car dealers and garages.
In the first six months of 2017, they increased the number of import transactions by nearly a third (29%) and spent 25% more (in euro terms) on importing cars from the UK when compared with the same period in 2016.
Head of Dealing at FEXCO Corporate Payments David Lamb said this trend "is set to continue as the euro strengthened further against the pound in May, June and in the first half of July.
"Sterling has lost ground steadily this summer and remains below the trough it reached in the immediate aftermath of the Brexit vote, meaning Irish buyers planning to import a car from the UK should consider locking in the current favourable exchange rate by using a forward contract."