Irish Auto Industry: Steady Growth and Electric Surge in 2023

The Irish Motor Industry, as detailed by the Society of the Irish Motor Industry (SIMI), concluded 2023 with 121,850 new car registrations, reflecting a 16% increase from 2022 (105,398) and a 4% uptick from 2019 (117,109). Notably, electric cars saw a substantial boost, with 22,789 new registrations in 2023 – a 45.4% increase compared to 15,678 in 2022 and 3,444 in 2019.

New Light Commercial Vehicle (LCV) registrations increased by 25.1% (29,403) compared to 2022's 23,510 and 16.1% from 2019 (25,336). Similarly, Heavy Commercial Vehicle (HGV) registrations experienced a 20.4% increase in 2023 (2,655) compared to 2022 (2,205) and a 19.9% rise from 2019 (2,214).

Imported Used Cars recorded 50,716 registrations in 2023, marking a 9.09% increase from 2022's 46,490 and a significant 55.48% decrease from 2019 (113,926).

Market share dynamics for 2023 showed Petrol at 30.07%, Diesel at 22.16%, Electric at 18.70%, Hybrid at 18.54%, and Plug-In Hybrid at 8.28%. While Petrol remained the dominant engine type, Electric, Hybrid, and Plug-in Hybrid collectively accounted for 45.5% of the market.

Automatic transmissions held a 64.54% market share, while manual transmissions declined to 35.35%. The hatchback maintained its status as Ireland's top-selling car body type in 2023, and grey continued to be the favoured color for the eighth consecutive year.

Brian Cooke, SIMI Director General, commented “2023 was a year of progress for the Irish Motor Industry, both in terms of new vehicle registrations and electric vehicle sales. New car registrations finished at 121,850 units, up 16% on last year and 4% ahead of pre-COVID 2019. The growth in electric vehicle sales continued into 2023, with an increase in market share from 15% in 2022 to nearly 19% in 2023.This represented a 45% increase in EV sales for the year. We do expect to see some growth in EV sales again in 2024, but key to this will be the ongoing Government support, both in terms of vehicle and taxation incentives and investment in a fit for purpose charging infrastructure. The mix in the new car market however, from electric to hybrid to more traditional engine types, highlights the diverse nature of Irish motorists’ driving requirements, and reducing the age of the national fleet, as well as moving to zero emission vehicles, will be vital if we want to get close to Ireland’s climate goals. The commercial vehicle sector both light and heavy vehicles also delivered a solid performance in 2023. Light commercial vehicles finished 25% ahead of last year and Heavy Goods Vehicles saw a 20% increase on 2022.”