New car sales continue to decline, dropping over 10% in September

Sales of electric cars saw a significant decline, marking eighth consecutive month that saw registrations fall

In the year to the end of September, overall car registrations are down 1.4% to 117,264. Electric car sales are down 25.7% — with just 16,133 registered compared to the 21,726 last year.

New car registrations continued to decline during September, dropping 10.3% compared to the same month last year, with electric cars registrations seeing a significant drop, new figures show.

Figures released by the Society of the Irish Motor Industry (SIMI) shows there were 5,137 new cars registered last month, down from 5,727 last year. Electric cars are continuing their downward trend, with 30.8% fewer registered during September when compared to September 2023. Just 1,010 new electric cars were sold last month.

In the year to the end of September, overall car registrations are down 1.4% to 117,264, compared with the same period last year. Electric car sales are down 25.7% so far this year — with just 16,133 registered compared to the 21,726 last year.

SIMI director general Brian Cooke said the new electric car segment had “experienced another month of decline in registrations, marking the eighth consecutive month of this trend”.

Mr Cooke said it was vital the Government supported the electric car project in order to help reverse this drop in demand for electric cars.

“Reinstating and extending EV supports, as well as investing in a reliable charging infrastructure, can help regain lost momentum in the electric vehicle project. The industry remains committed to supporting the transition to electrification,” he said.

According to SIMI, Toyota is the best-selling car brand so far this year, but the best selling car was the Hyundai Tucson. The best selling electric car brand is Volkswagen, with its ID.4 also being the best-selling electric car.

Petrol cars continue to have the largest share of the new car market, at close to 31%. Diesel has close to 23% share, while hybrids have 21% and electric as 13.7%. Plug-in hybrids account for 9.7% of new car sales.

The decline in new car registrations has been met with an increase in imported used car registrations. In September, these registrations increased 18.2% to 5,116 during last month, and year to date, imports are up 24.5% to 47,738.

These figures come at a difficult time for car makers, which find themselves struggling with slowing customer demand, particularly when it comes to electric cars. 

Earlier this week Volkswagen issued its second profit warning in three months, while Fiat-owner Stellantics cut its forecasts for the year, citing plans to lower production and spend more on promotional incentives.