October new car registrations up 9.7%: Electric Vehicle registrations down 12.3%

The Society of the Irish Motor Industry (SIMI) have released their official 242 new vehicle registrations statistics for October. New car registrations for month of October were up 9.7% (2,423) when compared to October 2023 (2,208). Registrations year to date are down 1.2% (119,668) on the same period last year (121,134). 

Light Commercial Vehicles (LCVs) declined by 14.2% (1,197) compared to October last year (1,395). Year to date LCVs are up 8.0% (30,167). HGVs (Heavy Goods Vehicles) registrations are up 4.8% (132) in comparison to October 2023 (126). Year to date HGVs are up 10.4% (2,757).

Imported Used Cars have seen a 38.5% (5,710) rise in October 2024, when compared to October 2023 (4,123). Year to date imports are up 25.9% (53,448) on 2023 (42,461).

In October 529 new electric cars were registered, which was 12.3% lower than the 603 registrations in October 2023. So far this year, 16,656 new electric cars have been registered representing a 25.4% decrease compared to the same period in 2023 when 22,329 electric cars were registered.

In the new car market share by engine type for 2024, Petrol cars continue to lead the new car market at 30.79% followed by Diesel at 22.94%, then Hybrid (Petrol Electric) at 20.99%, Electric at 13.92%, and Plug-in Electric Hybrid at 9.81%.

Brian Cooke, SIMI Director General commenting: “October new car registrations increased by 10% when compared to the same month last year, with 2,423 new cars registered. However, year to date new car registrations are still marginally down on last year. The data also shows the continuing decline in sales of Electric Vehicles (EVs), with EV sales for the month 12% lower than October last year.

“This marks the ninth consecutive month of decline in electric vehicle registrations which is clearly a worrying trend. Year to date EV registrations are now 25% lower than 2023. The decline in EV sales emphasises the need for continued Government supports and initiatives to boost sales in this market segment.”