October new car registrations down 2.1% – new car market just marginally ahead 0.6% on last year

The Society of the Irish Motor Industry (SIMI), have released the official 222 new vehicle registration figures for October.

New car registrations for October were down 2.1% (2,624) when compared to October 2021 (2,680). Registrations year to date are marginally up 0.6% (104,056) on the same period last year (103,425) and are 10.4% behind (116,124) that of pre-Covid levels.

Light Commercial vehicles (LCV) are up 14.0% (1,448) compared to October last year (1,270) and year to date are down 18.8% (22,452). HGV (Heavy Goods Vehicle) registrations are down 11.4% (187) in comparison to October 2021 (211). Year to date HGV’s are down 6.9% (2,303).

Used car imports for October (3336) have seen a decrease of 24.2% on October 2021 (4,401). Year to date imports are down 26.6% (40,753) on 2021 (55,539).

For the month of October 741 new electric vehicles were registered compared to 519 in October 2021. So far this year 15,241 new electric cars have been registered in comparison to 8,338 on the same period 2021, an increase of 82.8%. 

Electric Vehicle, Plug-in Hybrids and Hybrids continue to increase their market share, with a combined market share now of 40.8%. Petrol continues to remain dominant with 30.21%, Diesel accounts for 26.86%, Hybrid 19.37%, Electric 14.65% and Plug-in Electric Hybrid 6.78%.

Commenting on the new vehicle registrations Brian Cooke, Director General SIMI said: “New car registrations for the month of October are down 2.1% on the same month last year, while year to date the new car market is just marginally ahead (0.6%) of the corresponding period in 2021. New car sales are still over 10% behind Pre-Covid 2019. Sales of commercials both Light (LCV) and Heavy Good Vehicles (HGVs), continue to remain subdued.

“As has been the case over the last two years, the electric car segment continues to grow strongly, with over 15,241 electric cars sold this year, an 83% increase on last year and a nearly four-fold increase on 2020. With hugely challenging emission reduction targets over the next decade, at both national and EU level, it is vital that EV sales continue to gather pace. In the short term, concerns over both increasing energy costs and raw material supply shortages have the potential to slow down the growth in EV sales.

“In this context it is essential that the Industry and Government work closely to create an environment where EVs remain not only a strong environmental choice but also a cost-effective choice for consumers and businesses. This includes targeted Government support in the establishment of a national charging infrastructure, and also the extension of EV purchase incentives beyond 2023.”