New Car Registrations: +39% June, year to date +18.8%

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

New car registrations for the month of June were up 39.0% (2,994) when compared to June 2022 (2,154). Registrations year to date are up 18.8% (77,488) on the same period last year (65,211).

Light Commercial vehicles (LCV) are up 72.54% (1,087) compared to June last year (630) and year to date are up 33.3% (17,356). HGV (Heavy Goods Vehicle) registrations are also showing an increase of 28.4% (131) in comparison to June 2022 (102). Year to date HGV’s are up 34.9% (1,554).

Imported Used Cars seen a 2.6% (4,230) decrease in June 2023, when compared to June 2022 (4,343). Year to date imports are up 3.81% (25,027) on 2022 (24,109).

For the month of June 1,441 new electric vehicles were registered compared to 188 in June 2022 (+666.49%). So far this year 14,307 new electric cars have been registered in comparison to 8,446 (+69.39%) 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 43.63%. Petrol remains the largest share at 31.85%, Diesel accounting for 21.87%, Electric 18.46%, Hybrid 17.37% and Plug-in Electric Hybrid 7.80%.

Brian Cooke, SIMI Director General commenting: “The new car market performed strongly in June with registrations 39% ahead of the same month last year. While year to date new car registrations are still 4% behind pre-COVID 2019, the gap is closing every month, aided by fulfilment of 2022 orders and improved new vehicle supply.

“June in particular saw a significant boost in electric car sales, with 1,441 registrations during the month, in comparison to 188 units in June 2022, no doubt as a result of EV buyers wanting to avail of the full SEAI Grant of €5,000, which is to be reduced from July 1st. Year to date the EV market has exceeded 14,000 cars, an increase of 69% on last year. It should be highlighted that there still is a significant basket of incentive for EV buyers, including ongoing purchase and home charger grant support, VRT relief for many EVs, as well as low annual road tax.

“These supports, along with an increasing number of EV models coming to market, should ensure strong new car activity as we enter the 232 registration plate sales period. Going forward we need to maintain these incentives as well as an attractive BIK incentive for businesses, if we want to build on the momentum that is clearly there in the EV market.”