New car registrations down10.3% in September; Government must continue EV supports in Budget 2024

The Society of the Irish Motor Industry (SIMI) released their official 232 new vehicle registrations statistics for September.

New car registrations for the month of September were down 10.3% (5,669) when compared to September 2022 (6,318). Registrations year to date are up 16.5% (118,369) on the same period last year (101,587).

Light Commercial vehicles (LCV) are up 15.4% (2,021) compared to September last year (1,751) and year to date are up 30.6% (27,220). HGV (Heavy Goods Vehicle) registrations are showing a decrease for September of 17.1% (155) in comparison to September 2022 (187). Year to date HGVs are up 27.0% (2,375).

Imported Used Cars seen a 0.1% (4,328) decrease in September 2023, when compared to September 2022 (4,333). Year to date imports are up 2.5% (38,339) on 2022 (37,417).

For the month of September 1,493 new electric vehicles were registered compared to 1,851 in September 2022 (-19.34%). So far this year 21,707 new electric cars have been registered in comparison to 14.510 (+49.6%) on the same period 2022. 

In September, the car market share grew, with petrol retaining the largest share at 30.39%, Diesel accounting for 22.18%, Hybrid 18.64%, Electric 18.34%, and Plug-in Electric Hybrid 8.21%. Battery Electric Vehicles, Plug-in Hybrids and Hybrids now see their combined market share (year to date) at 45.19%.    

Brian Cooke, SIMI Director General commenting: 
“While the new car market has shown strong growth so far this year, the drop in new car registrations for September, a 10.3% decrease on the same month last year, is a concern. New electric vehicle registrations declined by nearly a fifth when compared to September 2022, and while some of this is due to changing supply chain dynamics, there is a fear that there could be a softening in EV growth. 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. This includes retention of the 0% Benefit-In-Kind (BIK) thresholds, and 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. Now more than ever is the time to invest in the electric vehicle project to ensure that the right measures are implemented to encourage behavioural change as quickly as possible.”      

Tables below shows total new car registrations by county and total new electric car registrations by county 2023. 

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