Registrations of new cars fell by 50 per cent in June compared to the same month last year. Irish buyers registered only 1,499 new cars in June 2024, when they put 2,990 new cars on the road this time last year.
So, are this year's new car sales in the tank?
Not quite yet. It means that new car sales (technically registrations - not quite the same thing) are now only 1.7 per cent higher for the year to date than they were at this time last year, a significant reduction in the rate of sales since January.
What about electric sales?
Perhaps unsurprisingly - given recent headlines - a major part of this contraction was the slump in electric car sales. Just 692 new electric cars were registered in June, also down by half compared to last year. Overall electric car sales for the year thus far have slipped by 25 per cent compared to 2023.
Speaking about the figures, Brian Cooke, secretary general of the Society of the Irish Motor Industry (SIMI) said: “In June new car registrations declined by 50 per cent on the same month last year. Following four consecutive months of decline, new car registrations for the first half of the year stand at 78,942 units, a marginal increase on 2023. Both light and heavy commercial vehicles registrations saw a decline in sales for the month of June, but the activity remains strong in the commercial fleet. New electric car registrations continue to experience a decline in sales, with June registrations falling by 52 per cent to 692 units. From January to June, a total of 10,747 new electric cars were registered, marking a 25 per cent decrease from the same period the previous year.
Can this be turned around?
“The decline in the new EV car market continues to highlight the need for Government to support the EV transition, with ways to incentivise the market for both private and company car buyers. Extending consumer incentives and Benefit-in-Kind support, along with investment in charging infrastructure will build consumer and business confidence and encourage uptake. Retailers remain optimistic as we enter the 242-registration plate sales period, and with new models coming to the market along with variety of attractive offers are positive that this will help to boost sales activity in July, the second busiest month for new car sales,” said Cooke.
What about other sales?
Worryingly, sales of vans - often seen as an indicator of underlying economic health - also fell in June, by 38 per cent compared to the same month last year. That’s the second month in a row we’ve seen a decline in van sales, although they’re up by 17.8 per cent for the year to date.
Imports of used cars also rose and were up by 22 per cent in June and 25.4 per cent for the year.
With electric car sales continuing to fall, petrol power leads the way in the Irish market with 36.92 per cent of sales, followed by diesel on 22.89 per cent; hybrid on 20.11 per cent; electric on 13.61 per cent; and plug-in hybrids on 8.83 per cent.
Who’s top of the charts?
Toyota remains the best-selling car brand overall, followed by Volkswagen, Skoda, Hyundai, and Kia. The best-selling car for the year so far is still the Hyundai Tucson, followed by the Skoda Octavia, Kia Sportage, Toyota RAV4, and Toyota Yaris Cross.
The best-selling electric brand so far in 2024 is Volkswagen, followed by Tesla, Hyundai, BYD, and Kia. The best-selling electric model so far this year is the Volkswagen ID.4, followed by the Tesla Model Y, Tesla Model 3, Hyundai Kona, and MG 4.
The best-selling car in June was the Tesla Model 3.