New EV registrations dropped by more than a fifth in 2024
Fewer than 18,000 new electric cars were registered in 2024, a decrease of 23.6% from the 22,852 registrations seen in 2023, acording to year-end figures from The Society of the Irish Motor Industry (SIMI).
New car sales for the total year were down only 1% to 121,195 versus 122,400 in 2023.
There was some good news for EV sales. Figures released for the month of December showed an increase of 48.7% for new EV sales of 296 besting 2023’s 199.
The five top selling new EV Car brands for the year were Tesla, Volkswagen, Kia, Hyundair and BYD.
For specific models the Tesla Model 3, Volkswagen ID.4, Tesla Model Y, Kia EV6, and Hyundai Kona were the top 5 selling models for the year.
Brian Cooke, SIMI Director General said: “The new car market in 2024 was in line with the previous year, with new car registrations finishing at 121,195 units, slightly behind 2023 (122,400 units)… The key feature of the 2024 new car market was the decline in electric vehicle sales, a reduction of 24% compared to 2023. There has however been some tentative signs of a turnaround in EV sales towards the end of 2024, and the Industry is anticipating an increase in EV sales in 2025.
“The start of the new registration period, 251, this week, is an optimistic time for the Irish Motor Industry. With the variety of incentives and offers from retailers and manufacturers it is a good time for customers to shop for a new or used car.”
Phil Barnes, business development manager with fleet management platform developer Geotab, said: “While we saw sales declines in nine months during 2024, the rebound in purchases of EVs in November and December is to be welcomed… It is clear that the decision to reduce subsidies deflated the public’s appetite, so a new targeted intervention aimed at potential buyers who are being held back financially from making the switch to a zero emissions vehicle would be welcomed.
“The automotive industry is on a one way street to zero-emission mobility, so the reality is that Ireland needs to decide whether we will be in the fast or slow lane in terms of adoption. With significant goals to be achieved in our bid to reduce transport emissions, the EV transition is the easiest way to hit these targets if Ireland is to avoid fines due a failure in reducing carbon emissions.
“While the 2024 sales figures overall are not where we would like them to be, there are some signs of green shoots of recovery amidst the data beyond the rebounds in November and December. If we look at hybrid and battery electric vehicles, over four in 10 new car sales are now EVs. There are more makes and models than ever before, with cheaper price points that make the potential of buying a zero emissions vehicle more realistic for many households. There is positive momentum in the rollout of public charging infrastructure, with more chargers than ever before, giving people one less reason to be worried about when making the switch.”
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