Electric car sales slump continues in October

Fri, 01 Nov, 2024 - 12:33

Michael McAleer

The drop in sales of new electric cars continued in October, down 12.3 per cent on the same month last year, despite the overall market growing by 10 per cent last month.

So far this year, 16,656 new EVs have been registered – a fall of 25.4 per cent on the same period last year.

According to Brian Cooke, director general of the Society of the Irish Motor Industry (Simi), "October marks the ninth consecutive month of decline in electric vehicle registrations which is clearly a worrying trend.

“The decline in EV sales emphasises the need for continued Government supports and initiatives to boost sales in this market segment.”

Some brands have suffered more than others due the drop in EV sales. Volkswagen and Hyundai have both seen their EV sales fall 37.5 per cent on last year, while EV sales at Skoda, Renault, Opel, Mini and Cupra are down over 50 per cent. Tesla sales are down 20.3 per cent this year.

The best-selling EVs are the VW ID.4 with 1,502 registrations (down 48 per cent on last year), Tesla’s Model 3 with 1,292 sales (up 18.7 per cent); Tesla Model Y (down 41.5 per cent); and Kia’s EV6 (down 18.5 per cent).

The total number of new cars registered so far this year stands at 119,668, down 1.2 per cent on last year.

Petrol engines remain the favoured choice for Irish new car buyers, making up 30.79 per cent of the market this year, followed by diesel at 22.94 per cent. Regular hybrids account for 20.99 per cent, while plug-in hybrids stand at 9.8 per cent. Fully electric sales represent 13.9 per cent of all new sales.

The best-selling car brands are Toyota, Volkswagen, Skoda, Hyundai and Kia, with the favourite models being the Hyundai Tucson, Skoda Octavia and Kia Sportage.

While new car sales are relatively stagnant, there is better news in the commercial market – a bellwether for overall economic activity – where van sales are up 8.0 per cent on last year, with 30,167 new registrations, while sales of Heavy Goods Vehicles (HGVs) are up 10.4 per cent at 2,757.