New car registrations in Louth down in October

New car registrations for the month of October were down in Louth compared to the same period last year, according to figures released this week by the Society of the Irish Motor Industry (SIMI).

SIMI released its official 232 new vehicle registrations statistics for October, and the figures show that 34 new vehicles were registered in Louth in October, down from 59 in October 2022.

For the year to date however, the number of new car registrations is up on the same period last year, with 2,615 new vehicles registered in Louth, compared to 2,457 last year.

Petrol engines remain the most popular engine type in Louth, but their popularity is falling. Up to the end of October this year, petrol engines made up 36.9% of the total number of engine types in passenger cars registered in Louth.

This compares to 38.22% during the same period last year, with 965 registered up from January to October of this year, compared to 939 during the same period in 2022.

There has been a huge increase in the number of electric cars registered in Louth so far this year, with 446 registered up to the end of October, compared to 275 in the same period last year, an increase of 62%. 

They made up 17.06% of the of the total number of engine types in passenger cars registered in Louth from January to October this year, compared to 11.19% during the same period in 2022.

Nationally, new car registrations for the month of October were down 16.8% (2,178 cars) when compared to October 2022 (2,617). Registrations year to date are up 15.6% (120,495) on the same period last year (104,204). 

For the month of October 607 new electric vehicles were registered compared to 737 in October 2022 (-17.6%). So far this year 22,280 new electric cars have been registered in comparison to 15,247 (46.1%) on the same period 2022.  

In October, the new car market share grew, with Petrol retaining the largest share at 30.28%, Diesel accounting for 22.15%, Hybrid 18.57%, Electric 18.49%, and Plug-in Electric Hybrid 8.26%. Battery Electric Vehicles, Plug-in Hybrids and Hybrids now see their combined market share (year to date) at 45.32%.   

Commenting on the latest figures, Brian Cooke, SIMI Director General said: “In October, new car registrations decreased by 16.8% (2,178) on the same month last year, while year to date the new car market is actually ahead 15.6% (120,495) on 2022.

"New electric car registrations also saw a decline in October, with 607 units sold in comparison to 737 for the same month last year. However, the underlying EV market remains positive, and a more accurate view of this can be seen in the 22,280 EV registrations year to date, an increase of 46% on 2022.

"Electric Vehicles (EVs) now represent 18.5% of the new car market. Private consumer sales, with the support of SEAI grants, are the largest contributor of new electric vehicle registrations, accounting for nearly three quarters of EV sales. 

"The clarity brought by last month’s Budget, with the extension of VRT and BIK reliefs, will support EV growth for next year in both the private and business sectors. Sales of commercials both Light (LCV) and Heavy Good Vehicles (HGVs), while subdued in October remain ahead year to date.”