The first six months of this year witnessed a 25% plummet in new electric vehicle (EV) sales when juxtaposed with the corresponding timeframe in the preceding year, according to the Society of the Irish Motor Industry (SIMI). This comes even though the total count of fresh car registrations observed a slight uptick of 1.7%, adding 78,942 new automobiles to Ireland’s roads.
As the 242 registration system rolls out, SIMI data for the first half of 2024 demonstrates that petrol-powered vehicles still bag the top spot in buyer preferences, claiming 33% of new car sales. Diesel engines trail behind at 22.9%, followed by petrol-electric hybrids making up slightly more than 20% of sales. EVs only account for 13.6% of sales, with plug-in hybrids contributing 8.8%.
As the EV field experiences a downturn, SIMI’s director general, Brian Cooke, stresses on the government’s role in backing the transition towards EVs. He emphasises the importance of creating market incentives for both individual and corporate clients. He believes that bolstering customer incentives, extending benefit-in-kind aid, and augmenting charging infrastructure will nourish consumer assurance and spike demand.
Despite the current dip in EV sales, dealers see an opportunity for recovery as the 242-registration period begins. They’re looking forward to increased sales driven by an influx of new models and appealing deals this July, which historically is the second most prosperous month for new car sales.
Toyota clinches the top spot as the most favoured new motor brand with 11,673 registrations, topping Volkswagen, Skoda, Hyundai, and Kia, who register 8,463, 8,076, 7,111, and 5,617 vehicles respectively. The Hyundai Tucson presides as the top model with 3,390, outperforming the Skoda Octavia at 3,140. Volkswagen’s ID.4 leads the EV race with 862 registrations, trailed by Tesla’s Model Y and Model 3 at 823 and 777 respectively.
Even though EV registrations within the motor industry have climbed by 68% to 1,841, all other market segments are reflecting a drop in sales. Most notably, the rental market has witnessed a shocking drop, with a mere five EV registrations this year against 104 in the same period last year. This contrasts the overall hire drive registrations, which have increased by 23.4%.
The registration of new vans in the commercial vehicle industry saw a rise of 17.8 per cent from last year, reaching 20,229. Furthermore, sales of heavy-duty trucks, also known as HGVs, witnessed a similar increase, showing a rise of 17.9 per cent from last year, reaching a volume of 1,826.