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Surge for fossil fuel vehicles

Industry association says large market share for petrol and diesel vehicles last month was “unsurprising” after feebates axed.
Posted on 05 February, 2024
Surge for fossil fuel vehicles

Internal combustion engine (ICE) vehicles took out 77.5 per cent of the new-vehicle market last month as the demand for fully electric models plunged following the government’s scrapping of the clean car discount (CCD).

Figures from the Motor Industry Association (MIA) show a total of 12,649 new units were registered in January, which was 1.3 per cent more than 12,481 in the same month a year ago. However, it was 6.2 per cent below the 13,749 sales in January 2022.

Aimee Wiley, pictured, MIA’s chief executive, says: “With the clean car discount gone, it is unsurprising that petrol and diesel vehicle registrations surged in January 2024, comprising 96.2 per cent of registrations at 12,173 units.”  

A breakdown of the numbers by motive power shows ICE vehicles had a 77.5 per cent market share, followed by hybrids on 18.7 per cent, battery electric vehicles (BEVs) with 2.2 per cent and plug-in hybrids (PHEVs) with 1.6 per cent.

With the feebates scheme ditched at the end of December, there were 3,793 registrations of light commercial vehicles last month. This was an increase of 53.5 per cent, or 1,322 units, from January last year but 7.4 per cent and 304 vehicles lower than the same month in 2022.

Ford’s Ranger was the top performer on the light commercials’ ladder with 1,470 registrations. The Toyota Hilux was second on 657 units and the Mitsubishi Triton third with 330.

As for light passenger vehicle registrations, the 8,120 recorded by the MIA last month was down by 12.4 per cent, or 1,154 units, from a year ago. It was also nine per cent lower than January 2022.

Toyota’s RAV4 led the segment on 619 units, with Mitsubishi’s AX and Outlander occupying the next two spots on 438 and 431 respectively.

The 244 light passenger BEVs registered in January gave such models a three per cent market share, down from 1,211 and 13.1 per cent in the same month of 2023.

The top three zero-emitters were the BYD Seal on 31 units, Tesla’s Model Y with 25 and the Toyota BZ4X on 23.

With regards to PHEVs, the 202 sold last month was down from 495 a year ago with the Porsche Cayenne leading the way on 24 units, followed by Mitsubishi’s Eclipse Cross on 18 and the Volkswagen Touareg with 14.

The 2,366 hybrids registered in January grabbed 29.1 per cent of the light passenger market, which compared with 2,075 and 22.4 per cent in the same month of 2023.

Toyota dominated this section as the RAV4 led the way on 568 units, the Highlander was second with 297 and the Corolla Cross scored 242 registrations.

In the ICE category, Mitsubishi’s ASX came out on top with 438 units, the marque’s Outlander was next on 421 and Kia’s Seltos completed the top three with 310.

January’s top segment was medium SUVs after they took out 21.9 per cent of the new-vehicle market, followed by pick-up chassis cab 4x4s on 20.4 per cent and compact SUVs with 19.3 per cent.