asked the Minister for Industry, Commerce and Energy if he is satisfied that car importers have passed on to the public the savings in car prices which have resulted from the improved position of sterling.
Ceisteanna—Questions. Oral Answers. - Car Prices.
16.
The information available to my Department shows that where the position of sterling has improved importers/assemblers of motor vehicles have taken this into account in their pricing structures. There has not been any strengthening of sterling against some currencies such as the Deutschemark and the yen. Furthermore, it is the practice of some motor vehicle importers to buy forward their foreign currency at an average option rate and in such cases the strengthening of sterling has no immediate beneficial effect. In a number of cases where there has been benefit to importers the price structures of the vehicles affected were adjusted to reflect that benefit. However, the advantage resulting from more favourable exchange rates in such cases has been more than offset by other cost increases, and this has had the effect of moderating pricing increases rather than of reducing prices.
In using the words "adjusted" and "taken into account" can the Minister clarify whether or not the price of any one make or model of car has come down due to these savings?
There has been moderation in the prices rather than a reduction.
Have the prices gone down?
Not to my know-ledge.
What steps has the Minister taken to ensure that the prices of vehicles and spare parts in this country are brought into line with those obtaining in the North of Ireland and the UK for the same vehicles and spare parts?
That is a separate question, and if the Deputy puts it down I will give him the answer.