New car registrations for February rose by 37% when compared with the same month last year, according to the latest figures from the Society of the Irish Motor Industry.

New car registrations for the month stood at 21,625, compared with 15,778 in February 2015, while total new car sales are up 35% (61,350) on the same period last year (45,586).

Notably, the SIMI data shows Light Commercial Vehicles (LCV), are currently up 50% (3,484) on February 2015 (2,328) and year to date are up 39% (10,043) overall.

Heavy Goods Vehicle (HGV) registrations, are also up 26% for the month of February (260) 2016 compared to the same month last year (206), and are up 83% year to date.

For the first two months of 2016, 61,350 new cars have been sold – a rise of 35% on last year.

The top selling make this year is Hyundai, followed by Toyota, Ford, Volkswagen, and Nissan.

Commenting on the figurers, SIMI Deputy Director General Brian Cooke said: “The increased growth in registrations, both in cars and commercial vehicles, for the month of February clearly indicate that consumer and business confidence remain strong.

“The increase in new car registrations is partly due to the pent-up demand that arose as Ireland has replaced so few older cars with new ones over recent years, and this in addition to lower new car prices driven by the generous offers from retailers and manufacturers, and the availability of low cost finance are all helping to increase sales,” he added.