New car sales continue to drop as supply problems persist

New car registrations are down 4.6 per cent on last year, largely due to ongoing supply shortages. February sales were down 12.2 per cent on the same month last year, despite the easing of Covid-19 restrictions. The market is down 21.9 per cent compared to pre-Covid sales in the first two months of 2019.

So far this year 37,058 new cars were registered, compared to 38,838 for the first two months last year, during which showrooms were largely closed and dealers were only able to operate a click-and-deliver system.

It's a similar issue in the new van market, where sales are down 12 per cent for the year to date, with 7,341 registrations. The one exception is the heavy goods market, where registrations are up 2.14 per cent so far this year at 574.

The used car market is also suffering from supply issues, with used imports down 37.6 per cent this year at 7,848 compared to 12,579 this time last year.

There is better news in terms of electric and hybrid sales, with 4,320 new electric cars registered to the end of February, compared to 1,782 this time last year. While EVs and hybrids make up 44 per cent of the new car market, petrol accounts for 27.4 per cent of sales, while diesel makes up just 25.9 per cent.

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Brian Cooke, director general of the Society of the Irish Motor Industry (SIMI) said: "Despite strong demand for new and used cars, supply continues to be a major issue, with any potential recovery unlikely to happen until the second half of 2022 at the earliest."

Toyota remains the best-selling new car brand with 6,707 registrations, ahead of Hyundai with 5,346. Both are well ahead of rivals, with Skoda in third on 2,824 registrations, Kia with 2,767, and VW in fifth place with 2,553. The best-selling new car is the Hyundai Tucson, ahead of Toyota's Corolla. The best-selling new electric car is the Hyundai Ioniq 5, with 820 registrations, well ahead of its rivals, Kia's EV6 on 454 and VW's ID.4 with 449.

In the new van market, Ford has the lead with 1,949 registrations, ahead of Volkswagen with 1,218 and Opel with 822.