Industry News

The Irish Motor Industry saw a boost in new vehicle registrations in 2023, indicating a positive trend. Here at Terrific, we have analysed the latest stats released by the SIMI to get insights into the Irish automotive scene.

According to the numbers, 121,850 new car registrations were made in 2023, which is a noteworthy increase of 16% from last year's figures (105,398) and a 4% increase from the pre-COVID 2019 stats, 117,109. Light Commercial Vehicle registrations increased by an impressive 25.1% compared to 2022, while Heavy Commercial Vehicle registrations increased by 20.4%.

The import of used cars showed interesting dynamics with 50,716 registrations in 2023. Although this marked a rise of 9.09% from last year, it showed a steep decline of 55.48% from 2019. On the EV side of things, 22,789 new electric cars entered Irish roads in 2023, which is a notable 45.4% increase from 2022 and an overwhelming 561.7% surge from 2019.

The engine types breakdown reveals a changing landscape: Petrol remains strong at 30.07%, followed closely by Diesel at 22.16%. However, Electric, 18.70%, Hybrid 18.54%, and Plug-In Hybrid 8.28% collectively hold a significant 45.5% of the market share. Automatic gearboxes are the most popular, holding 64.54% of the market, while manual gearboxes have decreased to 35.35%.

Hatchbacks remain the top-selling car body type in 2023. Grey is the most popular car colour for the eighth consecutive year.

Brian Cooke, Director General at SIMI, is optimistic about the progress: “2023 showcased strides in new vehicle registrations and electric vehicle sales. The upward trajectory in electric vehicle sales, surging from 15% in 2022 to nearly 19% in 2023, signifies a 45% boost. However, sustained growth hinges on governmental support in incentives and infrastructure.”

Toyota, Volkswagen, Hyundai, Skoda, and Kia are the top brands dominating the Irish automotive scene in 2023, with models like the Hyundai Tucson and Kia Sportage leading the pack. In the electric vehicle arena, Volkswagen, Tesla, Hyundai, Kia, and MG claimed top spots.

Overall, the Irish automotive industry in 2023 shows progress.