Used car prices are still almost double what they were before the pandemic

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Used car prices are still almost double what they were before the pandemic.

The latest DoneDeal index shows car price inflation is finally beginning to slow, but prices are still 79 per cent higher than before Covid-19.

Electric vehicles and hybrids now account for just over half of new cars registered in Ireland, compared to just 18 percent in 2020.

Economist, Dr. Tom Gillespie, who compiled the report, says the number of cars available to buy is also increasing:

"There was an increase in stock of about seven percent in the last quarter and in the quarter before it increased again. 

"It's still an issue with getting cars from the UK, the share of imports from the UK has dropped down to 28 percent and that used to be 93 percent in 2020. So there's been a huge decline in the amount of cars we get from the UK."