According to the latest DoneDeal Car Price Index, the sale of electric and hybrid vehicles (EVs) in Ireland continues to grow rapidly. Compared to the third quarter of last year, sales have risen by over 22%. This surge in sales has resulted in the registration of 7,408 new EVs in Ireland in Q3 alone.
A notable shift is the proportion of new cars registered in Ireland that are now EVs or hybrids. They now account for almost half of all new registrations, a significant increase from the 22% recorded in 2020.
Additionally, the index indicates that the average price of a new EV has dropped below €50,000. This reduction in price could be attributed to various factors, such as increased competition in the market and advances in technology that have led to more affordable options for consumers.
Moreover, the prices of used EVs have also seen a decline. Within the past quarter, there has been a decrease of 2.6%, and on an annual basis, a decrease of 7.1%. Dr. Tom Gillespie, an environmental economist, explains that this decrease in prices is due to a boost in the supply of used EVs in the car market in Ireland.
The growing availability of used EVs has created downward pressure on prices, making them a more attractive option for buyers. This trend aligns with the global movement towards sustainable transportation and the increasing awareness of the environmental impact of traditional combustion engine vehicles.
Overall, Ireland’s EV market is experiencing significant growth, with a wide range of options available to consumers at more affordable prices. This positive trajectory is expected to continue as technology advances and more individuals recognize the benefits of electric and hybrid vehicles.
