The new automobile market has declined so far this year as sales of 242 registration cars in July decreased 5.9% from the same month the previous year, reports Breaking News.
With 25,726 new automobiles registered in total last month, 104,652 cars had been sold this year.
The auto industry is primarily focused on the sharp decline in new electric vehicle (EV) sales, which have dropped by 25% so far this year and are returning to levels last seen in 2022. 13,885 new electric vehicles have been registered, amounting to a 13.2% market share, down from 17.6% at same time last year.
Conversely, the proportions of conventional petrol, diesel, and hybrid vehicles have risen. Currently, 32% of new cars are powered by petrol, with diesel accounting for 23%, hybrids for 22%, and plug-in hybrid electric vehicles (PHEVs) for 10% of the market, reports Breaking News.
With 15,508 new car registrations so far this year, Toyota is the best-selling brand. Volkswagen is next with 11,758, Skoda is with 10,461, Hyundai is with 10,024 and Kia is with 7,551. Audi is the top-selling luxury automobile brand, with 4,588 registrations, surpassing Mercedes-Benz (2,703) and BMW (3,968).
Brian Cooke, Director General of the Society of the Irish Motor Industry (SIMI) said: “The key headline for July continues to be the drop in Electric Vehicle (EV) registrations, which are down by 25% year to date. EV sales are now back to 2022 levels. Last year saw several EV incentives reduced, including the SEAI Purchase and Home Charger Grants, while Benefit-In-Kind (BIK) for company EVs is scheduled to increase significantly in 2025,” reports Breaking News.
“We are at a critical juncture on the journey to Zero Emission Vehicles, but we need decisive actions in the Budget to arrest this slide and to reignite Ireland’s EV momentum. This can be done by extending the BIK incentive at current levels, and increasing the SEAI Grants back to 2022 levels until the EV market recovers. Budget 2025 is a real chance for Government to signal their commitment to fleet electrification and is an opportunity they should grasp,” he added, reports Breaking News.
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