New car sales up 15% but EV share of market remains static

Thu, 01 Feb, 2024 - 13:03

New car sales rose 15 per cent in January compared to the same month last year, totalling 31,470 registrations.

However, while sales of new all-electric cars continued to grow - with 4,109 registrations compared to 3,674 in January 2023 - their share of the new car market remained at 13 per cent. Petrol remains the leading engine choice with a 32 per cent share, while petrol-electric hybrids make up 24 per cent, and diesels 22 per cent. Plug-in hybrids (PHEVs) accounted for eight per cent of new sales last month.

According to Brian Cooke of the Society of the Irish Motor Industry (SIMI): "This highlights the ongoing challenge as we move away from the early adopter stage into a more mainstream market." He said that ongoing government support in terms of incentives and charging infrastructure will play a vital role in ensuring the success of the next phase in the transition to electrification.

Hyundai's Kona EV is the best-selling electric car, followed by the Volkswagen ID.4, the BYD Sea, the MG4, the VW ID.3 and the Skoda Enyaq.

Toyota is the best-selling car brand, with 5,457 registrations, ahead of Hyundai with 3,796 and Volkswagen with 3,005, while the best-selling car remains the Hyundai Tucson, accounting for 1,899 registrations in January.

While every county recorded sales growth, Dublin's share of the new car market has dipped slightly to 35.8 per cent of the January new car market, compared to 37.7 per cent last year. It was the only county not to experience double-digit sales growth.

The number of imported used cars rose 40.7 per cent to 5,326 last month, with VW being the most popular imported brand, and its Golf and Polo models topping the used import list. Petrol cars made up 47 per cent of the used imports last month, followed by diesel with 25 per cent. Hybrids - both regular and PHEVs - also accounted for 25 per cent, while just 158 used EVs entered the market.

In the commercial vehicle market - normally a bellwether for economic activity - sales of vans were up 35.5 per cent on last year, with 7,500 registrations in January, while registrations of new heavy goods vehicles (HGVs) were up 7.8 per cent, with 458 new trucks taking to the roads.