The number of new cars registered in September slumped 10 per cent compared to a year go, as the motor industry called on the Government to maintain supports for electric vehicles (EVs) at next week’s Budget.
Just 5,669 cars were newly registered last month, The Society of the Irish Motor Industry (Simi) said in an emailed statement. That was 10.3 per cent lower than the 6,318 vehicles registered in the same month in 2022, it added.
Even with the drop in September, registrations are still 16.5 per cent higher for the year to date compared with 2022. More than 118,000 have been registered so far this year. EV registrations plunged by close to a fifth during the month to 1,851. Still, numbers are up close to 50 per cent this year overall, at 14,510.
The drop in registrations last month “is a concern,” Simi director general, Brian Cooke, said. While some of the fall off in EV registrations “is due to changing supply chain dynamics, there is a fear that there could be a softening in EV growth”.
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“As the demand curve for EVs is moving out of the early adopter phase, the next cohort of EV buyers will inevitably be more price conscious. With Budget 2024 only a week way, Simi again calls on the Government to maintain EV incentives at current levels,” he added.
Among other supports, Simi wants the retention of 0 per cent benefit-In-kind thresholds, as well as the extension of both VRT relief and the SEAI purchase grant relief.
“In addition, with the new car market still in recovery mode, there should be no taxation increases that would dampen new car demand and, at the same time, more funding should be allocated to support the roll out of a reliable charging infrastructure,” Cooke added.
Sales of so-called light commercial vehicles were up 15.4 per cent year-on-year and have increased by almost a third so far in 2023, Simi said. Heavy Goods Vehicle registrations dropped 17 per cent in September. They are 27 per cent in advance of 2022 overall.
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Registrations of imported used cars have changed very little but are 2.5 per cent in advance of 2022 this year.
Petrol cars accounted for just under a third of the entire market, while diesel cars made up just over a fifth. Hybrids made up 18.6 per cent of the market while electric and plug in electric hybrid accounted for 26.4 per cent overall. Battery electric vehicles, plug-in hybrids and hybrids now see their combined market share at 45.19 per cent for the year to date.
