New car sales down 5.9pc in July
New car registrations for July 2024 were down 5.9 per cent (25,726) when compared to July 2023 (27,336), according to the latest statistics from the Society of the Irish Motor Industry (SIMI).
It says that registrations for the year-to-date are down also 0.3 per cent (104,652) on the same period last year (104,938).
Last month, 3,147 new electric cars were registered, which was 24.7 per cent lower than the 4,117 registrations in July 2023.
So far this year, 13,885 new electric cars have been registered representing a 25 per cent decrease compared to the same period in 2023 when 18,484 electric cars were registered.
Imported used cars have seen a 32.2 per cent (5,828) rise in July 2024, when compared to July 2023 (4,408). For the year-to-date imports are up 26.4 per cent (37,199) on 2023 (29,433).
In the new car market share by engine type for 2024, petrol cars lead the new car market at 31.95 per cent followed by diesel at 22.9 per cent, then hybrid (petrol electric) at 20.72 per cent, electric at 13.27 per cent, and plug-in electric hybrid at 9.62 per cent.
2024 total new vehicle stats:
Top selling car brands:
1. Toyota; 2. Volkswagen; 3. Skoda; 4. Hyundai; 5. Kia
Top car models:
1. Hyundai Tucson; 2. Skoda Octavia; 3. Kia Sportage; 4. Toyota RAV4; 5. Toyota Yaris Cross.
Top 5 selling EV brands:
1. Volkswagen; 2. Tesla; 3. Hyundai; 4. BYD; 5. Kia.
Top 5 selling EVs:
1. VW ID.4; 2. Tesla Model Y; 3. Tesla Model 3; 4. Hyundai Kona; 5. Kia EV6.
Top selling car (July):
Hyundai Tucson
Top selling EV (July)
Volkswagen ID.4
Meanwhile, light commercial vehicle (LCV) sales declined by 7.5 per cent (5,008) compared to July last year (5,414). For the year-to-date LCVs are up 11.7 per cent (25,239).
HGV (heavy goods vehicle) registrations are up 27.5 per cent (477) in comparison to July 2023 (374). For the year-to-date this segment is up 19.5 per cent (2,298).
Budget 2025
Brian Cooke, SIMI director general said that decisive action is needed in Budget 2025 to support the EV market.
“The key headline for July continues to be the drop in Electric Vehicle (EV) registrations, which are down by 25 per cent year to date,” Mr Cooke said.
“EV sales are now back to 2022 levels. Last year saw several EV incentives reduced, including the SEAI Purchase and Home Charger Grants, while Benefit-In-Kind (BIK) for company EVs is schedule to increase significantly in 2025.
“We are at a critical juncture on the journey to Zero Emission Vehicles, but we need decisive actions in the Budget to arrest this slide and to reignite Ireland’s EV momentum. This can be done by extending the BIK incentive at current levels, and increasing the SEAI Grants back to 2022 levels until the EV market recovers.
“Budget 2025 is a real chance for Government to signal their commitment to fleet electrification and is an opportunity they should grasp.”
