This year’s new car market has two notable features according to the Society of Irish Motor Industry; the return to pre-pandemic sales levels, and the ever increasing share of electric vehicles. EVs registered for the first eight months of the year have broken the 20,000 barrier.
Commenting on the state of play, Brian Cooke, Director General of the SIMI said: “As a country we can’t control the international political and economic situation, however we can control our own local taxation and incentive regime. If we get this right, we can create a platform to give consumers and businesses more options to make better environmental choices. For this to happen, the Industry and its customers need stability and certainty.
SIMI is calling on Government in the forthcoming Budget to extend current EV incentives and not to increase VRT. For consumers this means continuation of the SEAI grants and VRT relief on EVs, while for businesses an extension of the Benefit-in-Kind reliefs for three more years.
In addition, there should be increased funding to support the national charging infrastructure. By doing this, we will see an increase in both the new car market and in EV sales, with the potential to create an active used EV market over the next couple of years.”