Used EV prices continue to slide as older petrol and diesel cars gain value

Used EV Prices in Ireland Stabilising After Sharp Declines

Used electric vehicle (EV) prices in Ireland continue to fall but are beginning to stabilise following steep drops in 2023 and 2024, according to a new report from DoneDeal Cars. In contrast, older petrol and diesel vehicles are seeing price increases.

The report found that used EV values are down 2.8% year-on-year, a notable improvement compared with almost 13% declines in 2024. The fluctuations in new EV prices over the past few years, as manufacturers adjusted pricing—usually downward—have previously affected the second-hand market. DoneDeal attributes the current stabilisation to greater certainty in new EV pricing and an end to the dramatic discounts that disrupted used EV values.

Meanwhile, strong demand for older petrol and diesel vehicles is driving an 8.4% annual increase at the lower end of the market. Prices for petrol and diesel cars overall are up 3.1%, with models from 2010 and earlier rising by 8.4%, while newer combustion engine vehicles from 2021 remain flat. Hybrids are also holding steady, with values up 1.7% annually.

Average asking prices include:

• Three-year-old plug-in hybrid: €39,950
• Diesel: €32,950
• Hybrid: €26,749
• Petrol: €21,900
• 2022 EV: €27,900

Paddy Comyn of DoneDeal Cars said:

“The sharp correction in used EV prices has passed. Declines have eased from nearly 13% late last year to under 3% today. The market is maturing, with supply and demand reaching balance, giving buyers more choice and reassurance. Meanwhile, smaller petrol and diesel cars, like older Volkswagen Golf and Audi A4 models, are seeing prices rise by over 8% at the lower end of the market.”

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