January 2026 saw 11,806 new vehicle registrations, up 960 units (8.9%) from January last year, the Motor Industry Association said.
“January has opened the year on a stronger footing than the same month last year, with growth coming through most clearly in light passenger vehicles. The increase was supported by higher rental registrations and steady business demand, while private registrations were slightly lower,” Motor Industry Association Chief Executive Aimee Wiley said.
“These results indicate improving conditions, but the market continues to remain sensitive to broader economic and confidence settings.”
Economic forecasts still predict a gradual uptick in conditions throughout 2026, supported by lower interest rates and stronger business confidence, even as labour market dynamics continue shaping household spending choices.
In the automotive sector, this environment aligns with strengthening yet uneven demand—business and fleet purchases offer stability, while households stay cautious with buying.
Battery electric vehicles notched 761 registrations across the total industry in January, claiming 6.4% market share, up from the same month last year.
Plug-in hybrids logged 738 registrations (6.3% market share), while hybrid electrics tallied 3,312 units (28.1%).
In the light passenger segment, electrified vehicles captured just over half of registrations. Light commercials saw a smaller electrified share at 9.8%, down from 25.9% in January last year.