PRESS RELEASE

Vehicle data experts CARTELL.IE report today (August 18) that luxury vehicles like Ferrari, Lamborghini, Aston Martin and Bentley, feature in the list of vehicles issued a refund under the “VRT Export Repayment Scheme”.

So far in 2015 there have been 3,284 vehicles exported out of the State. Of those vehicles 556 (or 17%) had Vehicle Registration Tax (VRT) refunded by the Government. Refund of VRT for exported vehicles is based on the “VRT Export Repayment Scheme” which allows for the repayment of “residual” VRT on passenger vehicles permanently exported from the State. The scheme commenced in 2013.

In total 4,474 vehicles were exported out of Ireland in 2014. Of those vehicles 968 (or 22%) had Vehicle Registration Tax (VRT) refunded.

Luxury marques feature significantly in the list of vehicle’s issued a refund under the “VRT Export Repayment Scheme” since its commencement in 2013 including Ferrari (12), Lamborghini (2), Aston Martin (12), Bentley (13), and Porsche (32).

The average engine capacity of an exported vehicle under the Scheme is 2,951cc.

So far VRT refunds under the Scheme have been issued for 1,886 vehicles since it commenced in 2013.

John Byrne, Legal and Public Relations Manager, Cartell.ie, says:

Owners of vehicles from manufacturers like Ferrari and Aston Martin may see the VRT export repayment scheme as a win-win: they get a refund on residual VRT, which may be significant for a top-end car, and they also get to find a buyer for their vehicle in the larger UK market.”

In a separate study Cartell found that more than one-in-ten imported vehicles from the UK are written-off in the UK. So, while a lot of quality cars are leaving Ireland consumers are advised to check the history of UK cars before importing.

ENDS

For further information please contact John Byrne (Cartell.ie) on + 087 4199018 or email or check out www.cartell.ie for further information