BUDGET 2021 REDUCE VEHICLE REGISTRATION TAX

The Society of the Irish Motor Industry (SIMI) today released their official new vehicle registrations statistics and reiterated their call to Government to reduce Vehicle Registration Tax (VRT) in the upcoming Budget. 

A reduction in VRT would protect the 40,000 people employed in the Industry, sustain business, stimulate new car sales while helping to decrease emissions from transport and protect Exchequer Revenues.  

January 2021 will see a new taxation system for new cars tested under WLTP (new testing system). Any increase in VRT would have dire consequences for the sector, which is already struggling in the context of both COVID and BREXIT. It would make new cars considerably more expensive, reducing demand and would see thousands of job losses and business closures.   

New car registrations for the month of September seen an increase of 66.3% (5,685) when compared to September 2019 (3,418). While total registrations year to date remain down 25.8% (84,535) on the same period last year (113,945). 

Light Commercials vehicles (LCV) are up 67.4% (2,240) compared to September last year (1,338) and year to date are down 18.6% (18,930). HGV (Heavy Goods Vehicle) registrations are up 12.5% (162) in comparison to September 2019 (144). However, year to date HGV's are down 23.6% (1,795). 

Used car imports for September (9,522) have seen a decrease of 6.8% on September 2019 (10,221). While year to date imports are down 40.3% (49,190) on 2019 (82,435).

• New car sales year to date (2020) 84,535 v (2019) 113,945 -25.8%
• New car sales total September (2020) 5,685 v (2019) 3,418 +66.3%
• Light Commercial Vehicles sales year to date (2020) 18,930 v (2019) 23,245 -18.6%
• Light Commercial Vehicles sales total September (2020)2,240 v (2019) 1,338 +67.4%
• Heavy Goods Vehicle total sales year to date (2020) 1,795 v (2019) 2,350 -23.6%
• Heavy Goods Vehicle sales total September (2020) 162 v (2019) 144 +12.5%
• Used Car Imports total year to date (2020) 49,190 v (2019) 82,435 -40.3%
• Used Car Imports total September (2020) 9,522 v (2019)10,221 -6.8%
• Electric Vehicle sales year to date (2020) 3,618 v (2019) 2,974 +21.7%
• Electric Vehicles Car total September (2020) 664 v (2019) 115 +477.4%
• 5 Top Selling Car Brands 2020 were: 1. Volkswagen 2. Toyota 3. Hyundai 4. Skoda 5. Ford 
• 5 Top car model’s year 2020 were 1. Toyota Corolla 2. Hyundai Tucson 3. Volkswagen Tiguan 4. Ford Focus 5. Hyundai Kona
• Top Selling Car September 2020: Volkswagen ID
• Market share by engine type 2020: Diesel 43.02% Petrol 37.29% Hybrid 12.08%, Electric 4.28%, Plug-in Hybrid 2.74%