New figures released by the Society of the Irish Motor Industry (SIMI) indicate a mixed performance in the Irish car market during February. While overall new car registrations experienced a downturn, sales of electric vehicles (EVs) showed a substantial increase.
According to SIMI’s data, new car registrations for February totaled 14,012, reflecting a 15% decrease compared to the 16,432 registrations recorded in February 2024. SIMI noted that the February 2024 figures benefited from an extra trading day. Year-to-date registrations also show a slight decline of 0.8%, with 47,483 cars registered this year compared to 47,850 during the same period last year.
In contrast to the overall market trend, EV registrations surged. The figures revealed a remarkable 36% increase in new electric car registrations, reaching 2,524 in February, up from 1,856 in the same month of the previous year. The year-to-date figures also highlight this growth, with 7,447 new electric cars registered, a 25.1% rise compared to the 5,949 EVs registered during the first two months of 2024.
Meanwhile, the market for imported used cars saw an uptick. Imports rose by 13.2% in February to 5,599 units, compared to 4,946 in February 2024. The year-to-date import figures are also up, with a 9.1% increase to 11,203 compared to the 10,271 imported during the same period last year.
SIMI’s data also provided insights into the preferences of new car buyers. Petrol cars continued to be the most popular, accounting for 27.88% of the market, followed by hybrid (petrol-electric) vehicles at 23.76%. Diesel cars held a 16.65% share, while electric cars comprised 15.68% and plug-in electric hybrids accounted for 14.3%.
In terms of brand popularity, the top five selling new car brands in February were Toyota, Hyundai, Volkswagen, Skoda, and Kia. The models that topped the sales charts were the Hyundai Tucson, Toyota Yaris Cross, Toyota Rav 4, Skoda Octavia, and Kia Sportage.
The best-selling new car overall in February was the Hyundai Tucson, while the Tesla Model 3 led sales in the electric vehicle segment.
Brian Cooke, SIMI Director General, commented on the recent trends: “After a strong start in January, new car registrations have seen some retraction in February, with registrations declining by 15%, while year to date registrations are now marginally behind last year. However, going against this trend has been electric vehicles, with an increase in EV sales of 36% in February to 2,524 units, with private consumers, who benefit from the SEAI Grant, contributing two thirds of EV sales this year.” He further emphasized the significance of government support: “The importance of Government supports is key to maintaining this momentum, particularly with a greater range of EVs coming on stream. Commercial vehicle registrations have seen a decline, with LCV sales, which had been down in January, also down by 8% in February, and HGVs registrations down 3%.”
