Derry Journal Motoring: Car market maintains recovery

Battery electric vehicles (BEVs) remained the second most popular fuel type, with deliveries up by more than half to 20,522 and 15.4% of the market. Plug-in hybrid vehicles (PHEVs) also posted strong growth, up 33.3% with 8,595 registered in the month, while hybrid electric vehicles (HEVs) recorded a 7.7% increase to 15,026 units. As a result, electrified vehicles accounted for more than one in three registrations in April. Petrol-powered cars retained their best-selling status, comprising 58.1% of all registrations.

As supply chain pressures have begun to ease, the overall market is now up 16.9% in the first four months – the best start to a year since the pandemic. This has led to revision of the quarterly market outlook with 1.83 million new car registrations predicted in 2023, up from the 1.79 million estimates made in January. That puts expected market growth at 13.5%, which would be the best percentage gain since 1983.

The sector is, however, less optimistic about growth in demand for BEVs, downgrading their expected 2023 market share from 19.7% to 18.4%. This is due in part to high energy costs and insufficient charging infrastructure. Expected sales numbers for 2024 have also been downgraded. The SMMT highlights the need for greater and faster investment in infrastructure, and more incentives to drive consumer confidence and accelerate uptake.

Year to date, petrol sales have shown an increase of 15% over 2022, while diesel sales have shown a similar reduction. While the Vauxhall Corsa tops the sales to date this year, the Ford Puma narrowly beat it to the top position in April.

Speaking of the industry’s concern, Mike Hawes, SMMT Chief Executive, said: “We need everyone – government, local authorities, energy companies and charging providers – to accelerate their investment in the transition and bolster consumer confidence in making the switch.”

The recovery was mirrored in Northern Ireland with the 3,432 sales here in April showing an increase of 6.8% over the same month last year. So far this year, Northern Ireland has accounted for 16,750 new car sales, up over 17% from the first four months of last year.

In the Republic of Ireland, new car registrations for April were up 14% to 8,941 when compared to April 2022. Year to date registrations of 67,018 are up 16% on last year.

April saw 1,870 new electric vehicles registered compared to 1,280 in April 2022, an increase of over 46%. So far this year 11,164 new electric cars have been registered, up 49% over the same period last year.

All-Electric Vehicles, Plug-in Hybrids and Hybrids continue to increase their market share but petrol remains dominant at 33%, with Diesel accounting for 22%. Electric sales continue to increase with Hybrid accounting for 17% of the market, Electric 17% and Plug-in Electric Hybrid 8%. Year to date imports of used cars are up 2.8% on last year’s 16,312. The Hyundai Tucson topped sales across Ireland.