New Trends in Limerick’s Growing Vehicle Market
In a notable shift, Limerick has seen an increase of over 150 new car registrations in 2024. The total rose to 3,971 cars, compared to 3,803 units the previous year. This growth has been accompanied by a notable uptick in electric vehicle registrations, reaching 586 in 2024, an improvement from 446 in 2023.
The Society of the Irish Motor Industry (SIMI) recently released comprehensive data on new vehicle registrations for the year, highlighting an overall registration total of 121,195 units in Ireland. This reflects a slight dip of 1% compared to the previous year’s 122,400.
Light Commercial Vehicles (LCVs) experienced a robust 7% increase, with 30,786 units registered, while Heavy Commercial Vehicle (HGV) registrations rose by 8%, totaling 2,865. In a striking trend, imported used cars surged to 61,583, marking a significant 21.4% rise from 50,716 in the prior year.
Electric cars saw a decline, with 17,459 new registrations in 2024—a decrease of 23.6% from the previous year’s 22,852. The market distribution revealed petrol engines leading at 30.31%, followed closely by diesel and hybrid models. Additionally, automatic vehicles dominated the market at 66.09%, as hatchbacks remained the most popular body type and grey continued to be the color of choice for the ninth consecutive year.
2024 Limerick Vehicle Market: Electric Growth Amid Industry Shifts
Overview of Limerick’s Vehicle Market Growth
Limerick’s vehicle market is experiencing a promising transformation with a 4.4% increase in new car registrations in 2024. The total registrations have surged to 3,971, a noteworthy rise from 3,803 in the previous year. Alongside this growth, the electric vehicle (EV) segment has also shown positive trends, with registrations reaching 586 units, an increase from 446 in 2023.
Electric Vehicle Dynamics
Despite the overall decline in electric car registrations throughout Ireland, Limerick’s focus on green transportation is noteworthy. The county is part of a larger trend toward electrification, as evidenced by Ireland’s total EV registrations dipping by 23.6%, down to 17,459. This contrast reflects a growing demand for environmentally friendly vehicles within Limerick, showcasing the area’s commitment to sustainability.
Comprehensive Vehicle Market Analysis
According to the Society of the Irish Motor Industry (SIMI), the overall vehicle market in Ireland saw a total of 121,195 new vehicle registrations in 2024, indicating a slight decrease of 1% from the previous year. However, specific segments within the vehicle market have witnessed substantial growth:
– Light Commercial Vehicles (LCVs): An increase of 7%, with 30,786 new registrations.
– Heavy Commercial Vehicles (HGVs): An 8% rise, totaling 2,865 units.
– Imported Used Cars: A staggering 21.4% increase, with 61,583 units registered.
Popular Trends and Consumer Preferences
Within Limerick, petrol engines remain dominant, capturing 30.31% of the market. Diesel and hybrid models closely follow, showcasing a diverse preference among consumers. Moreover, automatic cars are progressively gaining traction, accounting for 66.09% of new registrations.
# Market Insights: Body Types and Colors
Hatchbacks have consistently been the most popular body type among new registrations, aligning with consumer preferences for practicality and fuel efficiency. Additionally, the color grey continues to dominate, remaining the favorite choice for car buyers in Limerick for the ninth consecutive year.
Pros and Cons of Electric Vehicles in Limerick
Pros:
– Environmental Benefits: Reduced emissions contribute to better air quality.
– Government Incentives: Various subsidies and grants are available for EV buyers in Ireland.
Cons:
– High Initial Costs: Electric vehicles often come with a premium price tag.
– Charging Infrastructure: While improving, charging station availability remains a concern for potential buyers.
Pricing Trends and Future Predictions
The average price of new cars is expected to rise due to several factors, including supply chain disruptions and increased production costs. Market analysts predict that the emphasis on sustainability will lead to an ongoing shift toward electric models, despite current fluctuations in registration numbers.
Conclusion: Implications for the Future
Limerick’s vehicle market is in a state of evolution, marked by an increase in registrations and a growing interest in electric vehicles. While challenges persist, the continued investments in infrastructure and technology present significant opportunities for the future of transportation in the region. For more information on vehicle trends and industry updates, visit SIMI.
