VROOM BOOM!
‘Supercar’ sales are up and still accelerating
DESPITE the cost-of-living crisis, sales of ‘supercars’ costing more than €100,000 are trending upwards at an accelerating rate, the Irish Mail on Sunday has learned.
Figures provided by Finance Minister Michael McGrath show sales of these cars rose from 850 in 2021 to 1,112 last year.
With supercar sales increasing to 998 for just the first four months of the year, the final figure this year would be just under 3,000 if current trends continue. That would be an massive almost 350% increase if the sales continue.
The figures come amid calls from Labour for a new tax on the environmentally unfriendly SUVs [Sports Utility Vehicles].
Figures provided by Minister McGrath, in response to parliamentary queries from Sinn Féin frontbencher Eoin Ó Broin, also confirmed that sales of cars in the €70,000 to €100,000 price range are accelerating.
Premium vehicles in this category rose from 2,839 in 2021 to 4,033 in 2022. Sales for the first four months of this year were 2,265, indicating almost 7,000 cars costing between €70,000 and €1,000 will be sold this year, representing a 240% rise in just two years.
The most popular ‘supercars’ among Ireland’s wealthy include the Porsche Panamera – currently available for €115,877 here – along with its stablemates, the Porsche Cayenne and the Porsche Macan.
Other popular luxury car models include Ferrari’s California model, the Bentley Continental and the Maserati Quattroporte.
Sales of gas-guzzling SUVs are also on the rise, along with deepening concerns about their impact on the environment.
Labour climate spokeswoman, Senator Rebecca Moynihan, has urged the Government to introduce a ‘bloated car restriction’ on SUVs.
She told the MoS: ‘The Government must take urgent action to reduce emissions and tackle climate change.
‘One way to do this is to introduce a bloated car restriction on SUVs and other energy intensive cars.’
The Labour proposal is similar to the SUV tax that was introduced in France, which is based on weight and size, and would be ‘designed and delivered through the VRT and motor tax system’.
Dubliner Ms Moynihan added: ‘SUVs are becoming increasingly popular in Ireland, but they are also some of the most polluting vehicles on the road.
‘They emit more greenhouse gases and other pollutants than smaller cars, and they are also more likely to be involved in accidents.
‘The Government has a responsibility to protect the environment and the health of its citizens. By introducing a bloated car restriction on SUVs and other energy intensive cars, the Government can help to reduce emissions, improve air quality, and make our roads safer.’
In a sharp criticism of the Greens, Ms Moynihan also called for the Coalition partner to take a far more proactive stance on the issue, adding: ‘We know from the Climate Change Advisory Council that ambitions have not been matched by actions. As it stands, we have already reached 50% of our 2030 emissions ceiling.’
But while sales of SUVs and luxury vehicles are on the rise, new figures published this week indicate ordinary car sales are driving in the opposite direction.
Figures provided by the Society of the Irish Motor Industry (SIMI) confirmed car registrations in October dropped 16.8% to 2,178, compared with the same month last year. There has also been a drop in the number of new environmentally friendly vehicles.
Some 607 new electric vehicles were registered in October compared with 737 the same month last year – a decrease of 17.6%.
To date this year, 22,280 new electric cars have been registered, up 46% on January-October 2022. Despite the decline in new e-car registrations last month, SIMI director general Brian Cooke said the underlying market for electric vehicles remains positive. He pointed out that private consumer sales, with the support of Sustainable Energy Authority of Ireland grants, are the largest contributor of new electric vehicle registrations, accounting for nearly three quarters of sales. Mr Cooke added the ‘clarity’ offered by Budget 2024 on the tax reliefs available for electric vehicles is expected to support further growth next year.
‘Sales of gas-guzzling SUVs are also on the rise’