Fall in new car sales during month of September - SIMI

Call for continued supports for electric vehicles in Budget 2024

The Government is being urged to continue supports for electric vehicles in Budget 2024. The call by the Society of the Irish Motor Industry (SIMI) comes as it reveals that new car registrations were down by 10.3% nationally in September. Cavan fared worse with a 38.5% decline last month (35) compared to September 2022 (57).

A total of 5,669 new cars were registered nationwide last month, compared to 6,318 in September 2022. However, registrations, year to date, are up 16.5% (118,369) on the same period last year (101,587).

In the first nine months of 2023, 1,217 new cars were registered in Co Cavan, up 16.2% on the previous year (1,047).

Some 1,493 new electric vehicles were registered last month compared to 1,851 in September 2022 (-19.34%). So far this year 21,707 new electric cars have been registered against 14.510 (+49.6%) on the same period in 2022.

Brian Cooke, SIMI director general, said the September figures are concerning: “New electric vehicle registrations declined by nearly a fifth when compared to September 2022, and while some of this is due to changing supply chain dynamics, there is a fear that there could be a softening in EV growth.

“As the demand curve for EVs is moving out of the early adopter phase, the next cohort of EV buyers will inevitably be more price conscious. With Budget 2024 only a week way, SIMI again calls on the Government to maintain EV incentives at current levels. This includes retention of the 0% Benefit-In-Kind (BIK) thresholds, and extension of both VRT relief and the SEAI purchase grant relief.

“In addition, with the new car market still in recovery mode, there should be no taxation increases that would dampen new car demand, and at the same time more funding should be allocated to support the roll out of a reliable charging infrastructure. Now more than ever is the time to invest in the electric vehicle project to ensure that the right measures are implemented to encourage behavioural change as quickly as possible.”