New Car Registrations: 16% Decrease in March 2024

The Society of the Irish Motor Industry (SIMI) today released their official 241 new vehicle registrations statistics for March.

New car registrations for March were down 15.5% (14,936) when compared to March 2023 (17,685). Registrations year to date are up 8.0% (62,807) on the same period last year (58,151).

Light Commercial vehicles (LCVs) increased by 31.7% (4,410) compared to March last year (3,348). Year to date LCVs are up 34.1% (15,356). HGV (Heavy Goods Vehicle) registrations are up 28.2% (350) in comparison to March 2023 (273). Year to date HGVs are up 15.0% (1,110).

Imported Used Cars have seen an 11.0% (5,216) rise in March 2024, when compared to March 2023 (4,698). Year to date imports are up 24.2% (15,487) on 2023 (12,473).

In March 2,009 new electric cars were registered, which was 41.1% lower than the 3,412 registrations in March 2023. So far this year 7,971 new electric cars have been registered which is a 14.3% decrease compared to the same period in 2023 when 9,297 electric cars were registered.

In the new car market share by engine type for 2024, Petrol cars lead the new car market at 33.37%. followed by Diesel at 23.05%, then Hybrid (Petrol Electric) at 21.33%, Electric at 12.69%, and Plug-in Electric Hybrid at 7.92%.

Brian Cooke, SIMI Director General commenting: “While the new car market started strongly in the first two months of the year, March proved to be much more difficult. New car sales showed a 16% decrease on the same month last year, although sales for the first quarter remain 8% ahead of 2023. Sales of light and heavy commercial vehicles both show growth in registrations for March. Sales across all fuel types were behind last year, with the Electric Vehicle segment seeing a notable decline. This highlights the ongoing challenge of transitioning to electrification, as we move into the mainstream car market. The electrification of the fleet requires increased collaboration between all stakeholders to bridge this current chasm in the market. For the Industry, this means investment and delivery of EV technology. For Government, this means increased support in terms of extension of current incentives, including purchase grants and Benefit-In Kind (BIK) relief for companies, and working with private enterprise to upgrade the national charging infrastructure, to boost consumer confidence in making the switch to electric vehicles.”

2024 Total New Vehicle Stats

? New Car sales total year to date (2024) 62,807 v (2023) 58,151 +8.0%

? New Car sales total year to date (2024) 62,807 v (2019) 64,126 -2.1%

? New Car sales total March (2024) 14,936 v (2023) 17,685 -15.5%

? New Car sales total March (2024) 14,936 v (2019) 16,687 -10.5%

? Light Commercial Vehicles sales year to date (2024) 15,356 v (2023) 11,452 +34.1%

? Light Commercial Vehicles sales year to date (2024) 15,356 v (2019) 11,055 +38.9%

? New Light Commercial Vehicles sales total March (2024) 4,410 v (2023) 3,348 +31.7%

? New Light Commercial Vehicles sales total March (2024) 4,410 v (2019) 3,042 +45.0%

? Heavy Goods Vehicle total sales year to date (2024) 1,110 v (2023) 965 +15.0%

? Heavy Goods Vehicle total sales year to date (2024) 1,110 v (2019) 756 +46.8%

? New Heavy Goods Vehicle total sales March (2024) 350 v (2023) 273 +28.2%

? New Heavy Goods Vehicle total sales March (2024) 350 v (2019) 221 +58.4%

? New Buses/ Coaches sales year to date (2024) 223 v (2023) 136 +64.0%

? New Buses/ Coaches total sales March (2024) 59 v (2023) 47 +25.5%

? Used Car Imports total year to date (2024) 15,487 v (2023) 12,473 +24.2%

? Used Car Imports total year to date (2024) 15,487 v (2019) 26,832 -42.3%

? Used Car Imports total March (2024) 5,216 v (2023) 4,698 +11.0%

? Used Car Imports total March (2024) 5,216 v (2019) 8,970 -41.9%

? New Electric Vehicles sales total year to date (2024) 7,971 v (2023) 9,297 -14.3%

? New Electric Vehicles sales total year to date (2024) 7,971 v (2019) 1,435 +455.5%

? New Electric Vehicles sales total March (2024) 2,009 v (2023) 3,412 -41.1%

? New Electric Vehicles sales total March (2024) 2,009 v (2019) 311 +546.0%

? 5 Top Selling New Car Brands 2024 were: 1. TOYOTA, 2. SKODA, 3. VOLKSWAGEN, 4. HYUNDAI, 5. KIA?????

? 5 Top New Car Model’s 2024 were: 1. HYUNDAI TUCSON, 2. SKODA OCTAVIA, 3. KIA SPORTAGE, 4. TOYOTA RAV 4, 5. TOYOTA YARIS CROSS

? 5 Top Selling Electric Vehicles (EVs) Brands 2024: 1. VOLKSWAGEN,2. HYUNDAI, 3. TESLA, 4. BYD, 5. KIA?

? 5 Top Selling Electric Vehicle Models (EVs) 2024: 1. HYUNDAI KONA, 2. TESLA MODEL 3, 3. VOLKSWAGEN ID.4, 4. VOLKSWAGEN ID.3, 5. MG MG4

? Top Selling Car (March) 2024: SKODA OCTAVIA

? Top Selling Electric Car (March) 2024: TESLA MODEL 3

? Market share by engine type 2024: Petrol 33.37%, Diesel 23.05%, Hybrid (Petrol Electric) 21.33%, Electric 12.69%, Plug-In Electric Hybrid 7.92%

? Tables below shows total new car registrations by county 2024 and total new Electric car registrations by county 2024.

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