The number of people buying news cars is growing. Figures from the Central Statistics Office (CSO) show the number of new private cars licensed for the first time increased by 9.5% to 7,767 in May 2014 compared to the same time last year.

Used cars licensed for the first time were also up - they grew by 7.5% to 4,945 for the same period.

In total, there were 58,890 new private cars licensed in the year to the end of May 2014, a rise of 27.4% compared to 2013.

The corresponding figure for 2014 in respect of used cars was 23,099 and this was up 18.4% from 2013.

The figures also show that he number of new goods vehicles in May was up 34.1% from May 2013.

The total number of all new vehicles licensed last month was 10,250 compared with 9,070 during the same month in 2013 - an increase of 13%.

Of the 7,767 new private cars licensed last month, 27.3% were petrol and 71.4% were diesel.

The most popular make of licensed in May 2014 was Ford (957) followed by Volkswagen (941), Toyota (845) and Hyundai (619).

In May 2014, the total number of all vehicles licensed was 16,799 compared with 14,996 in the corresponding month last year - an increase of 12%.

The licensing figures refer to vehicles taxed for road use only and classified by taxation class.

Newstalk's Business Editor Ian Guider told Lunchtime earlier that another increase is likely when the new '142' registration plates are issued next month.