The Irish automotive market saw a record-breaking surge in electric vehicle (EV) sales in January, with 4,925 EVs registered, marking a 20% increase compared to the same month last year, according to new data from the Society of the Irish Motor Industry (SIMI).
Strong Start for 2024 New Car Market
The SIMI report also revealed that overall new car registrations rose by 7%, reaching 33,521 in January compared to 31,407 in the same period in 2023.
Used car imports also saw growth, increasing by 5% to 5,604 from 5,325 last year. However, light commercial vehicle (LCV) registrations declined 16%, falling to 6,270 from 7,478, while heavy goods vehicle (HGV) sales saw an 8% increase, with 489 registrations compared to 454 in 2023.
Petrol Remains Dominant, But EVs Gain Ground
In terms of market share by engine type, petrol cars continued to lead at 28.24%, followed by hybrids (24.89%), diesel (16.31%), electric vehicles (14.69%), and plug-in hybrid electric vehicles (14.17%).
Brian Cooke, SIMI Director General, highlighted the continued growth of battery-powered vehicles (BEVs, PHEVs, and HEVs), which now account for 55% of the market.
“Battery Electric Vehicles (BEVs) saw their highest-ever monthly total with 4,925 registrations, up 20% from last year,” Cooke noted. However, he acknowledged that EV market share (15%) has yet to reach 2023 levels (19%).
Government Incentives Remain Crucial for EV Growth
Cooke emphasized that government incentives, including SEAI grant support, remain essential to sustaining the EV market’s momentum.
“The underlying EV market continues to be dependent heavily on private sales, highlighting the importance of ongoing Government incentives to help stimulate demand,” he said.
Despite the positive start to the year, Cooke cautioned against premature optimism:
“One good month of sales does not necessarily define the whole year, and we still have a long way to go in the transition to electrification.”
Top Car Brands and Models for 2024
The top 10 best-selling car brands in January were:
- Toyota
- Hyundai
- Volkswagen
- Skoda
- Kia
- Peugeot
- Nissan
- Ford
- Dacia
- Audi
Meanwhile, the top-selling car models included the Hyundai Tucson, Toyota Yaris Cross, Kia Sportage, and Toyota RAV4.
For electric vehicles, Volkswagen, Kia, and Hyundai led the market, with the Volkswagen ID.4, Kia EV3, and Hyundai Kona among the best-selling models.
Outlook for 2024
With more EV models entering the market at various price points, Cooke believes that the supply side of the equation is strong. However, he stressed that the focus must now shift to boosting demand as Ireland works toward its broader electrification goals.
Industry observers will be closely watching whether January’s record-breaking EV sales mark the start of a sustained trend or merely a strong opening month for the Irish car market in 2024.
