One of Ireland’s biggest car dealerships has closed after two and a half years.
The dealership, in the Irish capital, was shuttered on Wednesday after three years running.
It closed down due to a combination of factors including the high cost of the insurance and repairs.
The closure of the dealership comes as a new wave of competition is hitting the industry.
The competition comes as the market continues to struggle with a surge in auto theft.
The number of stolen vehicles on the road has more than doubled in the last three years, according to the Insurance Institute for Highway Safety (IIHS).
The IHS said this year was the most dangerous year for car theft since 2007.
The Insurance Institute said the cost of insurance for vehicles damaged in an accident has been rising due to the high level of uninsured car insurance.
The Irish government has already raised the minimum insurance required for a car to €1,000 from €700 in 2018.
The Irish Government has also pledged to provide an extra €1.5bn in subsidies to help consumers cover their own insurance costs.
Car theft in Ireland has fallen by over 90% since 2015.
However, there have been recent reports of vehicle theft in the capital city and in Cork and Dublin.