The stock of licensed motor vehicles increased by 5,319 in the second quarter of this year over the previous quarter, data issued on Monday shows.

The average number of newly licensed motor vehicles per day amounted to 82 but the net average increase was of 58 motor vehicles per day when one factors in the vehicles taken off the roads.

The stock of motor vehicles.The stock of motor vehicles.

The majority of newly licensed motor vehicles, 4,160 or 55.6% were passenger cars, followed by motorcycles/PA-bikes/E-bikes with 1,335 or 17.9 per cent. 

At the end of June 2023, the stock of licensed motor vehicles stood at 432,039. 74.2% were passenger cars, 14.2% were commercial and agricultural vehicles and 11.0% were motorcycles/E-bikes/PA-bikes, E-kick scooters, quadricycles and All-Terrain Vehicles (ATVs).

Buses and minibuses amounted to less than 1%.

Used cars now only a third of newly-licensed vehicles

Newly licensed motor vehicles put on the road during the period under review amounted to 7,476.

That included 5,009 (67%) of vehicles that were brand new and 2,467 used vehicles (33%). Up to the first quarter of 2021 used cars were the majority of newly-licensed vehicles, but matters changed, mostly as a result of regulation and higher costs brought about by Brexit. 

Just one third of used vehicles are 'second hand'. They used to be a majority until early 2021.Just one third of used vehicles are 'second hand'. They used to be a majority until early 2021.

During the second quarter of 2023, 6,341 motor vehicles were taken off the road. Out of these, 37% were garaged, 34.6 per cent were resold, while 26% per cent were scrapped. Motor vehicles that had their restriction ending during the quarter under review totalled 4,364. The majority were recorded as being garaged (51.2 per cent) or resold (48.1 per cent).

Engine type

At the end of June 2023, 252,197 motor vehicles or 58.4 per cent of the total had petrol-powered engines. Diesel-powered motor vehicles reached 156,392 or 36.2 per cent of the total. Electric and plug-in hybrid motor vehicles accounted for 3.3 per cent of the entire stock, with a total of 14,336 motor vehicles.

When compared to the previous quarter, increases of 40.9 per cent, 17.8 per cent and 13.3 per cent were registered in combined (diesel-LPG), electric and plug-in hybrid (diesel-electric) motor vehicles respectively.

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