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Buckle up and get ready for an exhilarating ride through the vibrant Irish car market! LM Operations is thrilled to unveil the latest figures from the Society of the Irish Motor Industry (SIMI), providing a fascinating glimpse into the state of the industry. Prepare to be amazed as we dive into the numbers, uncover emerging trends, and unveil a world of exciting opportunities awaiting car dealerships.

In this blog…

Impressive growth in new car registrations

Commercial vehicle sector takes the spotlight

Electric vehicles lead the charge

Market share and dominant players

Exciting opportunities for car dealerships

Incentivising EV purchase for sustained growth

Rev up your profits

A person in a white shirt stands in front of a parked car whilst scrolling on a tablet device.
Impressive Growth in New Car Registrations:

According to SIMI, new car registrations in April 2023 soared by a remarkable 14% compared to the same period last year. The numbers speak for themselves, with 8,941 new car registrations reported, a significant boost from the 7,857 recorded in April 2022. Year-to-date registrations show an impressive 16.0% increase, totalling 67,018 registrations compared to 57,762 in the corresponding period of the previous year.


Commercial Vehicle Sector Takes the Spotlight:

In addition to the thriving new car market, the commercial vehicle sector witnessed robust growth in April. Light commercial vehicles (LCVs) experienced a remarkable 33.3% surge, with 2,153 registrations compared to 1,615 in April 2022. Year to date, LCV registrations are up by an impressive 25.3%, reaching 13,734. Heavy Goods Vehicle (HGV) registrations also saw a remarkable increase of 35%, totalling 243 registrations in April 2023. Year to date, HGV registrations have soared by a significant 41.0% to reach 1,207.


A person plugging a charger into an electric car.
Electric Vehicles Lead the Charge:

The electric vehicle (EV) market in Ireland continues to gain momentum, as environmentally-conscious consumers embrace the future of transportation. In April 2023, 1,870 new electric vehicles were registered, representing a staggering 46.1% increase from the previous year’s figure of 1,280. Year to date, the growth rate stands at an impressive 48.6%, with 11,164 new electric cars registered compared to 7,515 during the same period in 2022.

Market Share and Dominant Players:

Electric vehicles, plug-in hybrids, and hybrids continue to increase their market share, collectively accounting for an impressive 42%. While petrol remains the dominant fuel choice at 32.85%, diesel follows closely at 22.34%. Hybrids claim 17.44% of the market, closely trailed by electric vehicles at 16.66%. Plug-in electric hybrids hold a respectable market share of 7.90%.

A car dealership with cars in front of it.
Exciting Opportunities for Car Dealerships:

With the Irish car market thriving and consumer interest in electric vehicles on the rise, there are exciting opportunities for car dealerships to capitalise on this growth. The top-selling car brands in 2023 so far include:

  • Toyota
  • Volkswagen
  • Hyundai
  • Skoda

The top car models for the year are:

  • Hyundai Tucson
  • Kia Sportage
  • Toyota Corolla
  • Toyota Yaris Cross
  • Toyota C-HR
  • Volkswagen
  • Hyundai
  • Kia
  • Tesla
  • BMW

The top-selling EV models include the Volkswagen ID.4, Hyundai Ioniq 5, Tesla Model Y, Skoda Enyaq, and Kia EV6.

Incentivising EV Purchases for Sustained Growth:

While the electric vehicle market is experiencing substantial growth, it is crucial to continue incentivising EV purchases to ensure sustained progress. Brian Cooke, SIMI Director General, emphasised the need to create an active used EV market and sustain the growth in the new EV market share. By offering attractive financing options and educating customers about the long-term benefits of EV ownership, car dealerships can play a vital role in driving the transition towards a greener future.

The Irish car market is witnessing impressive growth, with new car registrations and commercial vehicle sales on the rise. Electric vehicles are gaining significant traction, with a growing market share and a surge in new registrations. As car dealerships navigate this evolving landscape, embracing the shift towards electric vehicles and catering to the preferences of consumers will undoubtedly unlock new opportunities for success. LM Operations remains committed to supporting car dealerships and customers alike in their pursuit of affordable and sustainable mobility solutions.

Two people shake hands over a table with documents on.
Rev Up Your Profits: Expand Your Car Finance Options with LM Operations!

Attention, car dealerships! Are you ready to accelerate your profits to new heights? Here’s a game-changing opportunity for you: extend your panel of car finance lenders and watch your bottom line soar! LM Operations is here to help you unlock this potential. We specialise in catering to customers with all credit scores, ensuring that no one is left behind. By partnering with LM Operations, you can offer your customers a wider range of finance products, increasing their chances of approval and ultimately boosting your profit margins.

Don’t let this incredible opportunity pass you by! Take the first step towards revolutionising your business and book a meeting today with LM Operations. Let us show you how our partnership can drive your profits to new heights. We’re eager to discuss how our expertise and diverse finance options can benefit your dealership, ensuring customer satisfaction and a boost to your bottom line.

Get in touch with LM Operations now to schedule a meeting and unlock the untapped potential of your car dealership. The road to greater profits starts here. Seize the opportunity and steer your business towards success today!