Registrations of new cars in Ireland dipped very slightly in October compared to the same month last year. 2,624 new cars were registered last month, compared to 2,680 in October of 2021 - a fall of 2.1 per cent.
Parity with 2021's figures
It means that the market for new cars is pretty much at the same level as it was this time last year. Total new registrations for 2022 have reached 104,056, which is 0.6 per cent down on 2021's figures of 103,425. The numbers are still ten per cent behind the last pre-Covid data from 2019, however.
Commenting on the new vehicle registrations, Brian Cooke, Director General SIMI, said: "New car registrations for the month of October are down 2.1 per cent on the same month last year, while year to date the new car market is just marginally ahead (0.6 per cent ) of the corresponding period in 2021. New car sales are still over 10 per cent 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 per cent 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."
EVs and hybrids starting to dominate the market
Electric car sales have certainly been a highlight of the year, despite a public charging infrastructure creaking at the seams. Electric vehicles, plug-in hybrids and hybrids continued to increase their market share, with a combined market share now of 40.8 per cent. Petrol continues to remain dominant with 30.21 per cent of all sales, diesel accounts for 26.86 per cent, hybrid 19.37 per cent, electric 14.65 per cent and plug-in electric hybrid 6.78 per cent.
Used car imports continued to fall, down to 3,336 imports in October, a drop of 24.2 per cent compared to October last year. For the year to date, used car imports have fallen by 26.6 per cent to a total of 40,753.
Sales of vans and light commercials rose in October, indicating that the underlying national economy is weathering the various storms of 2022 better than was thought. Light commercial sales rose by 14 per cent in October, compared to October 2021, but they are down significantly for the year to date, falling by almost 19 per cent.
VW ID.4 the best-selling car in October
Toyota still sits atop of the list of best-selling brands, followed by Hyundai, Volkswagen, Kia, and Skoda. The Hyundai Tuscon has held on to the best-selling model spot for the year, followed by the Toyota Corolla, Kia Sportage, Toyota C-HR, and Volkswagen ID.4, the first electric car to trouble the top-five sellers' overall chart.
Unsurprisingly, the same ID.4 is the best-selling electric car of the year, followed by the Hyundai Ioniq 5, the Tesla Model 3, the Kia EV6, and the Volkswagen ID.3. The ID.4 was the best-selling car, of all, for October.