Budget 2025 is 'key' to revival of EV market
Volkswagen's ID.4 was the best-selling EV in Ireland in the first six months of 2024.
The Society of the Irish Motor Industry (SIMI) has said that "decisive actions" need to be taken in the upcoming Budget 2025 to support the electric vehicle (EV) sales market.
The SIMI made its comments after data for the first half of 2024 revealed a decline in EV sales. So far this year, 13,885 new electric cars have been registered in Ireland, representing a 25% decrease compared to the same period in 2023 when 18,484 electric cars were registered. In July 3,147 new electric cars were registered, which was 24.7% lower than the 4,117 registrations in July 2023.
In the new car market share by engine type for 2024, petrol cars lead the way 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%.
In Mayo, sales of EVs plummeted by 47% in the first half of 2024, from 222 in the same period in 2023 to 118 new registrations this year. Galway, which has the largest car market in Connacht, saw a decline in EV sales from 702 in the first six months of 2023 to 407 during the same period this year, a steep drop of 42%. A similar trend was event in Sligo where sales fell from 149 in the first half of 2023 to 84 this year, a fall of 43%, while the market in Roscommon fell by one-third, from 110 in the first half of last year to 75 this year.
Brian Cooke, SIMI Director General, said:
"The key headline for July continues to be the drop in 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 the Government to signal its commitment to fleet electrification and is an opportunity they should grasp.”
The five best-selling EVs in 2024 are the Volkswagen ID.4 in first place, followed by the Tesla Model Y, the Tesla Model 3, the Hyundai Kona and Kia's EV6.
