Electric & Hybrid Vehicles combine for over 50% of May new car market

The Society of the Irish Motor Industry (SIMI) today released their official 231 new vehicle registrations statistics for May.

New car registrations for the month of May were up 42.7% (7,557) when compared to May 2022 (5,295). Registrations year to date are up 18.2% (74,542) on the same period last year (63,057).

Light Commercial vehicles (LCV) are up 76.2% (2,528) compared to May last year (1,435) and year to date are up 31.1% (16,255). HGV (Heavy Goods Vehicle) registrations are also showing an increase of 11.9% (217) in comparison to May 2022 (194). Year to date HGV’s are up 35.6% (1,424).

Imported Used Cars seen a 14.9% (4,486) increase in May 2023, when compared to May 2022 (3,905). Year to date imports are up 5.2% (20,797) on 2022 (19,766).

For the month of May 1,725 new electric vehicles were registered compared to 743 in May 2022 (+132.2). So far this year 12,875 new electric cars have been registered in comparison to +55.9% (8,258) on the same period 2022.

Electric Vehicles, Plug-in Hybrids and Hybrids continue to increase their market share, with a combined market share (year to date) now of 42.74%. Petrol remains dominant at 32.36%, with Diesel accounting for 22.17%, Hybrid 17.51%, Electric 17.27% and Plug-in Electric Hybrid 7.96%.

Brian Cooke, SIMI Director General, said “New car sales increased again in May when compared to the same month last year, and now new cars sales are edging closer to Pre-COVID levels. Some easing of supply difficulties has resulted in improvement in delivery times, and this has led to a significant growth particularly in Electric Vehicle (EV) registrations.

“Year to date EV sales are now 56% ahead of last year, representing over 17% of the new car market. During the month of May nearly one-in-four new cars sold were electric, outperforming diesel sales for the month. Further analysis of the registrations highlights that when we combine Electric Vehicles, Plug-in Hybrid Vehicles (PHEVs) and Hybrids, which use battery technology for driving, they account for over 50% of the new car market for May. Commercial vehicle registrations both the heavy and light sectors, also demonstrated strong growth during the month.”