New Car Registrations: +24% in July, Record month for electric cars

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

New car registrations for the month of July were up 24% (27,148) when compared to July 2022 (21,904). Registrations year to date are up 20.1% (104,641) on the same period last year (87,115).

Light Commercial vehicles (LCV) are up 42.5% (5,664) compared to July last year (3,974) and year to date are up 35.3% (22,997). HGV (Heavy Goods Vehicle) registrations are also showing an increase of 27.6% (374) in comparison to July 2022 (293). Year to date HGVs are up 33.4% (1,927).

Imported Used Cars seen a 4.83% (4,409) increase in July 2023, when compared to July 2022 (4,206). Year to date imports are up 3.96% (29,435) on 2022 (28,315).

For the month of July 4,161 new electric vehicles were registered compared to 2,729 in July 2022 (+52.47%). So far this year 18,458 new electric cars have been registered in comparison to 11,175 (+65.17%) on the same period 2022.

In July, the car market share grew, with petrol retaining the largest share at 32.29%, Diesel accounting for 22.06%, Hybrid 18.04%, Electric 17.64%, and Plug-in Electric Hybrid 7.67%. A surge in battery electric vehicles, Plug-in Hybrids and Hybrids now see their combined market share (year to date) at 43.35%. 

Brian Cooke, SIMI Director General commenting: “The new car market for the first month of the 232 registration plate indicates a strong performance, with an increase of 24% on the same month last year. Improved production over the last few months has helped supply catch up with demand, resulting in July new car sales almost matching those of the key selling month of January.

“The new car market year to date now stands 20% ahead of 2022 and less than 1% behind pre-Covid 2019. Commercial registrations, both the heavy and light sector, also continue to be well ahead of last year. 

“The highlight of the market continues to be the performance of electric cars, with sales in July of 4,161 a record monthly total for EVs. So far this year 18,458 battery electric cars have been registered, an increase of nearly two-thirds on 2022. Improved supply and a greater range of new models available for motorists has supported this momentum behind EVs. The availability of SEAI grants to support positive decision making has been key, and their retention beyond this year, along with other EV incentives, is vital if we want to build on this success.

“Taking a closer look at the EV registration numbers, the main driver of growth is from consumers, who do qualify for the grant, and account for over 76% of EV sales. However, there also needs to be a focus on the business market, which without grant support really needs to see the extension of the BIK reliefs in Budget 2024, while investment in the public charging infrastructure is also crucial at this stage.”