Sales of new electric cars were down 25 per cent in the first half of 2024 compared to the same period last year, with petrol power continuing to lead the way, new figures have shown.
It comes despite an overall increase of 1.7 per cent in new car registrations, with 78,942 new cars registered on Irish roads in the first half of the year, compared to 77,602 this time last year.
The figures from the Society of the Irish Motor Industry show that for the first half of this year, petrol engines remain the most popular choice for buyers of new cars, making up 33 per cent of sales, while EV sales continue to slow.
This was followed by Diesel at 22.89%, then Hybrid (Petrol Electric) at 20.11%, Electric at 13.61%, and Plug-in Electric Hybrid at 8.83%.
The newly released statistics also show that new car registrations for June were down 50% (1,499) when compared to June 2023 (2,990). Registrations year to date are up 1.7% (78,942) on the same period last year (77,602).
June saw a total of 692 new electric cars registered – which is 52 per cent lower than the 1,423 new electric cars registered in June 2023. So far this year, some 10,747 new electric cars have been registered. This is a 25 per cent decrease compared to the same period in 2023, when 14,307 electric cars were registered.
Brian Cooke, Director General of SIMI, said: “New electric car registrations continue to experience a decline in sales, with June registrations falling by 52% to 692 units. From January to June, a total of 10,747 new electric cars were registered, marking a 25% decrease from the same period the previous year.”
“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,” he said.
“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.”
It comes amid concerns about the resale value of electric vehicles. A survey from Britain, published in March, found that the second-hand market for EVs was “limited” as their value had fallen over the last year. The survey of 66 independent dealerships around England carried out by the car trading website Honk Honk found that just 7 per cent of dealerships were more interested in EVs than they were one year previously.
It has been widely reported that price falls as a result of high electricity prices and rising inflation at the start of 2023, have pushed down the value of second-hand EVs.
At the end of June, the Climate Change Advisory Council called for urgent measures to be taken to increase the sale of electric vehicles in Ireland, advocating for a comprehensive review of taxation in the transport sector. It said that transport across the country is not on target to achieve its binding emissions targets – citing a rise in demand for petrol and diesel last year, combined with a decline in the sale of EVs, something which it said was “seriously concerning.”
The latest figures further show that sales of vans also fell in June, by 38 per cent compared to the same month last year. Meanwhile, imports of used cars also rose and were up by 22 per cent in June and 25.4 per cent for the year.
CompleteCar.ie says that 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 Volkswagen ID.4, is the top-selling electric model so far this year, 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.