TESLA DROPPED OUT of the top ten electric vehicle brands in Ireland last month, despite overall EV sales hitting a new record in January. 

The company, run by billionaire Elon Musk, was the biggest-selling brand for new electric cars in Ireland last year, according to figures from the Society of the Irish Motor Industry (SIMI). 

But new figures show that the brand was not among the top ten selling EV companies in the first month of the year. Volkswagen came out on top, followed by Kia, Hyundai, Nissan and Peugeot.

Volvo, Byd, MG, Ford and Skoda also made the top ten. 

There were 4,925 new EV registrations in Ireland in January, representing 20% increase when compared to 4,093 in January 2024. The top selling electric car last month was the Volkswagen ID.4. 

New car registrations for January were up 7% to 33,521, compared to 31,407 in January last year. 

In the new car market share by engine type, petrol cars remain the leader at 28.24%, followed by hybrid (petrol electric) 24.89%, diesel at 16.31%, electric at 14.69% and plug-in electric hybrid at 14.17%.

Tesla lower profits

Tesla last month reported lower than expected profits, but said it it will return to sales volume growth and move forward with fully autonomous driving.

The results – the first since the return of Musk’s ally Donald Trump to the White House – capped a mixed year for Tesla in which Musk’s big bet on US electoral politics was countered by profit pressures as Tesla’s streak of annual car volume growth came to an end.

The electric car company reported fourth-quarter profits of $2.3 billion (€2.2 billion), down 71% from the year-ago quarter, where profits were boosted by a one-time tax benefit.

Revenues rose 2% to $25.7 billion (€24.7 billion), also missing analyst estimates, but reflecting a more than doubling of sales in energy generation and storage.

Musk has sought to temper expectations about Tesla’s near-term financial growth, while employing superlatives in touting Tesla’s autonomous driving and robotic ventures, saying they could make Tesla “the most valuable company in the world by far,” worth more than the “next five companies combined.”

The company has been confronted by intensifying EV competition in leading markets, including China and the United States, where General Motors and Ford have introduced more models.

Another factor has been lower sales than expected from the Cybertruck, Musk’s futuristic auto giant that has won cheers from Tesla fans and jeers from critics.

But Tesla expects growth this year, saying in its earnings release that “with the advancements in vehicle autonomy and the introduction of new products, we expect the vehicle business to return to growth in 2025.”

Elon Musk

Musk, who spent some $270 million (€260 million) or more to help Trump win the White House, has himself been the subject of controversy in recent weeks.

During a speech celebrating US President Donald Trump’s inauguration, Musk made a one-armed gesture to the crowd that was widely condemned, with historians and others likening the gesture to a Nazi or fascist salute. Musk mocked the allegations on social media. 

His role in Trump’s administration has also been raising eyebrows.

Trump appointed the world’s richest man to head his Department of Government Efficiency following the US election. While it is not a federal administration, the White House has confirmed that Musk is a “special government employee”. 

Yesterday, Musk announced that he would shut down the US Agency for International Development (USAID), adding that Trump had agreed with him to shut the agency down.

USAID staff were instructed to stay out of the organisation’s Washington headquarters on Monday and funding for the agency was frozen, with officers blocking Democratic legislators from entering the lobby.