Ireland – 73% increase in new cars year-on-year

New figures from the Central Statistics Office show that there was a 73% increase in the number of new private cars registered in April, compared to the same month last year.

There were 9,599 new cars were officially registered in April 2010, compared to 5,558 in April 2009.

The bulk of the new cars, some 65%, were diesel, while 30% were petrol, with less than 1% petrol and electric hybrid.

Volkswagen was the most popular make during April, with 1,222 cars registered, followed by Renault, Toyota and Ford.

The number of new goods vehicles registered in April was also up compared to the same month last year – although only by 8%.

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Motorists warned of heavy may bank holiday traffic

Motorists have been warned of a busy weekend ahead as schools break for the May Bank Holiday and thousands of holidaymakers take to the roads.

Traffic volumes are expected to pick up this afternoon and with some heavy showers expected, motorists are advised to exercise caution.

Gardaí say there will be a particular focus this weekend on the enforcement of drink-driving legislation, speeding and breaches of the road transport legislation.

Officers will also focus on the need for motorcyclists to be conscious of safety.

The Road Safety Authority has also appealed to road users to take extra care on the roads this weekend.

The RSA said that 28 people have died and 50 seriously injured in May Bank Holiday crashes since 2005.

Minister for Transport Noel Dempsey said: ‘As we approach a busy bank holiday weekend, I want to remind everyone that the statistics on road safety speak for themselves.

‘I urge everyone, (irrespective of the length of your journey), to please take care if you are driving, walking or cycling on our roads.’

Elsewhere, more than 208,000 passengers are expected to travel through Dublin Airport over the course of the weekend.

Over 1,800 flights will arrive and depart during the period, including 70 charters.

Iarnród Éireann and Bus Éireann also expect an increase in passenger numbers.

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FBD warns of increased premiums for car insurance

Insurance group FBD has said increases in premiums are needed this year, particularly to help the industry to cope with claims from flooding and freezing this winter.

In a trading update released to coincide with its Annual General Meeting in Dublin, FBD said claims linked to the severe cold weather in January had cost it €12m. This is in line with a previous estimate.

The company said home and business insurance premiums had risen in the first three months of this year, but motor insurance rates had been slower to increase.

FBD said the value of insurance premiums written in the first quarter rose for the first time in three years, mainly due to higher prices.

Despite the weather-related claims, the insurance company said overall there were fewer large claims in early 2010 than in the same period last year.

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900 jobs to go at Quinn Direct Insurance

900 jobs are to go at Quinn Insurance offices, with the jobs to go on a voluntary basis.

Read statements from Quinn Insurance and the employees.

It is expected the cuts will happen over a 12-15 month period.

The biggest job losses will be in the largest office, Blanchardstown, which currently has a staff of around 800.

Around 301 jobs will go there – 65 in the first phase, which will take place over the next two to three months.

The head office in Cavan will lose around 226 jobs out of 700, with 121 going in the first phase.

In Enniskillen 179 jobs will go with 87 going in the first phase.

Navan will be particularly badly hit, with around half the workforce going, 109 out of 220. 37 will go in the first phase.

In Manchester, 48 out of the 100 jobs will go.

The redundancies will be voluntary and staff must come forward by 19 May and will result in a saving of thirty million euro per year for Quinn Insurance.

The administrators said projected redundancies could be reduced if more customers are won.

‘This is a difficult announcement to make and a considerably more difficult announcement for the workers of Quinn Insurance to hear. The scale of what we face is considerable,’ joint administrators Paul McCann and Michael McAteer of Grant Thornton said.

‘Unfortunately, this process is necessary in order to sustain and grow a viable insurance business.’

They said that they will continue to talk with the Financial Regulator in order to allow profitable business lines in Britain to be reopened. But certain loss-making lines of business will cease, they added.

Minister for Enterprise Trade and Innovation Batt O’Keeffe said he intends to meet with the administrators of the Quinn group later this evening to hear their view of the Quinn Insurance company.

He said the Government want to see what their plan is for the future of the company and to evaluate those plans.

Asked why he did not meet the administrators before today’s announcement he said that would not have been appropriate.

Minister O’Keefe described the job cuts announcement as devastating for the workers and their families. He said the Government would do everything in their power to try to get replacement jobs.

He said he is putting an inter-agency group in place comprising of Enterprise Ireland, FÁS and others to support workers who will lose their jobs.

The redundancy terms to be offered to staff will include four weeks pay per year of service on top of the usual statutory entitlements.

‘The restructuring process has taken into consideration a business plan which, we are confident, is realistic in the context of what it known and expected about conditions in our markets,’ the administrators said.

The administrators said they have received more than 40 expressions of interest from outside parties in buying Quinn Insurance.

They say the contacts were made without being asked for and no discussions on them had yet begun.

The administrators say Quinn Insurance should be sold as a going concern as its value in its business model, its people and its claim management system.

Certain lines of business which is no longer profitable will not be re-opened by the administrators

Earlier, the Quinn Group said it had ‘reluctantly’ decided that it should sell its Quinn Insurance business.

Quinn Group said that, in view of the funds needed to meet the requirements laid down by the Financial Regulator, the future of Quinn Insurance was probably best protected under new ownership.

‘Accordingly we will be working closely with the joint administrators to see if this objective can be achieved in as short a time as possible with the hope that this will protect the maximum number of jobs,’ the statement said.

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Convoy of trucks to stage Dublin Quinn protest

A demonstration against the ban on Quinn Insurance writing new business in the UK will begin at tomorrow morning at 8am, according to organisers.

A convoy of more than 300 trucks is expected to leave a truck stop on the M7 at Naas, Co Kildare.

It will travel to Kilmainham, through St John’s Rd West and onto the north quays, where it is expected at approximately 8.30am.

The protestors will continue up the north quays and over Memorial Bridge to the south quays.

They will complete a second circuit around the north and south quays before making their way back through Kilmainham onto the N7 and back to Naas via the M7.

AA Roadwatch has advised road users to try and get into the city before 8.30am when the trucks are expected.

One of the organisers, Barry O’Reilly, said ‘around 300′ trucks were expected to take part in the demonstration.

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The Irish Government €5,000 grant offered to electric car buyers

 The Government is to provide a €5,000 grant to incentivise the public to purchase electric cars.

Energy Minister Eamon Ryan said the grant would make electric vehicles comparable in price to conventional cars, but they would run at 20% of the cost.

The Government wants Ireland to become an effective test site for electric cars, with a goal of 10% of all vehicles running on electricity by 2020.

Last year, the Government signed a strategic deal with Nissan Renault, and today Renault is showcasing its new electric vehicle, the Fluence.

The ESB has already committed to installing 1,500 charging points across the country before the end of next year.

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Quinn Insurance News – Talks on Quinn Group to resume

Talks between representatives from Anglo Irish Bank and the Financial Regulator will resume today after attempts to reach agreement over its proposal to refinance the Quinn Group ended without resolution last night.

The state-owned bank is seeking a postponement of a High Court hearing tomorrow, to confirm the appointment of administrators to Quinn Insurance.

Quinn Insurance has said it requires a cash injection of €100-150m to meet the solvency level requested by the financial regulator.

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