Michael McGrath (Cork South Central, Fianna Fail)
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68. To ask the Minister for Finance if the Central Bank of Ireland has carried out analysis of the credit market for car loans; and if he will make a statement on the matter. [42252/15]

Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Central Bank that it does not specifically monitor information on the motor trade or motor lending. However, as part of the Household Credit Market Report, the Central Bank monitor trends in consumer credit by focusing on developments in aggregate consumer credit series as well as considering the financial stability implications of these credit balances through a monitoring of default rates on consumer lending.

The Central Bank provides statistics on default rates on secured term loans for consumer credit which would include some motor loans as well as other types of secured loans. Total default by loan count was 12 per cent as of December 2014. It should be noted that these default rates only relate to the three main lenders so do not cover specific asset financing outside AIB, BOI and PTSB.

Total consumer credit is continuing to decline in line with the broader deleveraging of the household credit market. As of the first quarter of this year, the stock of consumer credit fell by approximately 7.4 per cent on a year-on-year basis. Data for this series can be seen in Figure 2 in the Household Credit Market Report which is available at . Further detailed data is also available on the Central Bank's website.

Of course, many cars are purchased under hire purchase agreements and the consumer protection aspects of such agreements come under the aegis of my colleague, the Minister for Jobs, Enterprise and Innovation.