Rise in petrol plug-in hybrids in Louth as fall in new EVs continues

The fall in new electric vehicle (EV) registration in Louth continued in July but the increase in new petrol electric hybrid cars has continued, according to the latest figures released today by the Society of the Irish Motor Industry (SIMI).

Overall Louth saw a slight increase in the number of new cars registered in July 2024, compared to July 2023. 640 new cars were registered in the county in July, up from 633 in July of last year, representing a rise of 1.1%. It is the first month since February that the number of new cars registered was higher than the corresponding month in 2023. 

Petrol cars remain the most popular type of car in Louth, with 865 registered so far this year. It is however, down four on the 869 registered in the same period last year. Petrol electric hybrid cars are the second most popular this year, with 566 units registered in Louth so far in 2024, up from 458 last year and representing an increase of 23.6%.

Diesel cars are the third most popular type car in Louth this year, with 462 new cars registered, up from 419 from January to July 2023 and representing an increase of 10.3%.

The fall in the number of new EVs in Louth continued in July, with the fall in the number of new units registered to date in 2024 now standing at 26.2%, up from 25.6% in June. 285 new units have been registered so far this years in Louth, down from 386 during the same period last year.

The biggest increase in Louth so far this year has been in new petrol plug-in electric hybrid cars. 159 units have been registered in Louth so far in 2024, up from 119 in the first seven months of 2023 and representing a rise of 33.6%. 

Nationally, unlike Louth, the fall in new car registrations fell again in July. New car registrations for July were down 5.9%, or 25,726 units, when compared to July 2023 when 27,336 units were registered. Registrations year to date are down 0.3% (104,652 units) on the same period last year (104,938 units). 

Imported Used Cars have seen a 32.2% (5,828 units) rise in July 2024, when compared to July 2023 (4,408 units). Year to date imports are up 26.4% (37,199 units) on 2023 (29,433 units).

In July 3,147 new electric cars were registered, which was 24.7% lower than the 4,117 registrations in July 2023. So far this year, 13,885 new electric cars have been registered representing a 25% decrease compared to the same period in 2023 when 18,484 electric cars were registered.

In the new car market share by engine type for 2024, Petrol cars lead the new car market at 31.95% followed by Diesel at 22.90%, then Hybrid (Petrol Electric) at 20.72%, Electric at 13.27%, and Plug-in Electric Hybrid at 9.62%.

Commenting on the latest figures, Brian Cooke, SIMI Director General, said: “The 242-registration plate sales period is, as is always the case in July, an exciting and optimistic period for the Irish Motor Industry. However, July has continued the trend of recent months with a decline in new car sales.

"Year to date new car registrations are now marginally behind the first seven months of last year. Light commercial vehicles registrations also saw a decline in sales for July, but the activity remains strong, and sales are ahead of last year for both the light and heavy commercial fleet. 

"The key headline for July continues to be the drop in Electric Vehicle (EV) registrations, which are down by 25% year to date. EV sales are now back to 2022 levels. Last year saw several EV incentives reduced, including the SEAI Purchase and Home Charger Grants, while Benefit-In-Kind (BIK) for company EVs is schedule to increase significantly in 2025.  

"We are at a critical juncture on the journey to Zero Emission Vehicles, but we need decisive actions in the Budget to arrest this slide and to reignite Ireland's EV momentum. This can be done by extending the BIK incentive at current levels, and increasing the SEAI Grants back to 2022 levels until the EV market recovers. Budget 2025 is a real chance for Government to signal their commitment to fleet electrification and is an opportunity they should grasp.”