New car sales up 10% but EV slump continues 

Call for continued Government incentives after sales of electric cars down 25% this year so far compared to same period last year

Electric car sales fell for the ninth month in a row compared to last year. 

The number of new car registrations ticked up by nearly 10% during the month of October, but the slump in the sale of electric cars continues, new data from the Society of the Irish Motor Industry (SIMI) shows.

According to the data, last month there were 2,423 new cars registered — an increase of 9.7% compared to October last year. Of these new cars, only 529 were electric cars — which is 12.3% lower than last year.

Overall, new car registrations in the year to the end of October are down by 1.2% to 119.668 compared to the 121,124 registered during the same period last year. 

So far this year, 16,656 new electric cars have been registered, representing a 25.4% fall compared to the same period in 2023, when 22,329 electric cars were registered.

SIMI director general Brian Cooke said there had now been nine straight months of decline in electric vehicle registrations compared to last year.

“Year-to-date electric car registrations are now 25% lower than 2023. The decline in electric car sales emphasises the need for continued Government supports and initiatives to boost sales in this market segment,” he said.

The best selling car in October was the Toyota Yaris Cross, while the best selling electric car was the Nissan Leaf.

In addition to the increase in new car registrations, the number of imported used cars registered in October increased to 5,710 — an increase of 38.5% year-on-year. Year-to-date, imports are up 25.9%, to 53,448.

Car makers struggling

The slump in electric car sales comes as numerous car manufacturers continue to struggle.

Struggling German manufacturer Volkswagen is embarking on a restructuring, with plans to close at least three factories and shrink all other remaining sites in the country as well as slash wages by 10% for about 140,000 workers.

Earlier this week, Ford warned earnings this year will be at the low end of its forecast as it struggles to bring down high warranty costs.

During October, Chinese electric-car makers lost ground in Europe for a third straight month, in the latest sign the move toward higher import tariffs is hurting sales.

Japanese manufacturers Toyota and Nissan are due to post their latest results next week.

Additional reporting Bloomberg