The supply of new cars has gone from famine to near normal so that should take steam out of the low mileage, low years end of the used market.
I think the journal missed the boat here a bit.
The shortage in new cars has caught up. The second hand market is on the way back down again.
It’s fighting to keep the inflated prices at the dealer level, but it can’t work.
Just as an example, I was looking at options for a car for the missus recently. Just for shits & giggles I started looking at the pricing of new v second hand. For a fiat 500, Brand new cars (hybrid) were 500 quid more expensive than second hand 18 month old ones with 15,000 Km of the exact same spec.
The dealers are fighting so hard to keep the pricing artificially inflated, but it’s on the way down again lads.
[deleted]
Some of the pricing is madness, especially in the republic, I moved to NI this year and car prices are far more reasonable despite the smaller market. You can get a decent 2018 Octavia with around 50,000km on it for approximately €15-18k, on most ROI sites I am seeing similar models go for €25k+ with 100,000km+ on them. A brand new model would actually be the same price.
This is based on the results of the new DoneDeal report, which can be read here:
It’s important to note that higher priced cars haven’t increased in price nearly as much as lower priced cars (under 7k). This is the key issue as it will take years for the supply and demand at this level to recover.
Using the pandemic as a benchmark is weird. Brexit is what really screwed it, no more cheap imports from the UK
You’d miss the better & cheaper cars from the UK.
Looks like everyone needs to learn mechanic skills now…
Time for the country to move to driving on the right side of the road and open ourselves up to one of the biggest car markets in the world, that we are intentionally self isolating ourselves from. Ireland and Malta are currently the only two countries in the EU that drive on the left.
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The supply of new cars has gone from famine to near normal so that should take steam out of the low mileage, low years end of the used market.
I think the journal missed the boat here a bit.
The shortage in new cars has caught up. The second hand market is on the way back down again.
It’s fighting to keep the inflated prices at the dealer level, but it can’t work.
Just as an example, I was looking at options for a car for the missus recently. Just for shits & giggles I started looking at the pricing of new v second hand. For a fiat 500, Brand new cars (hybrid) were 500 quid more expensive than second hand 18 month old ones with 15,000 Km of the exact same spec.
The dealers are fighting so hard to keep the pricing artificially inflated, but it’s on the way down again lads.
[deleted]
Some of the pricing is madness, especially in the republic, I moved to NI this year and car prices are far more reasonable despite the smaller market. You can get a decent 2018 Octavia with around 50,000km on it for approximately €15-18k, on most ROI sites I am seeing similar models go for €25k+ with 100,000km+ on them. A brand new model would actually be the same price.
This is based on the results of the new DoneDeal report, which can be read here:
https://www.blog.donedeal.ie/post/prices-continue-to-grow-with-total-car-price-inflation-now-at-77-5-since-the-start-of-the-pandemic
It’s important to note that higher priced cars haven’t increased in price nearly as much as lower priced cars (under 7k). This is the key issue as it will take years for the supply and demand at this level to recover.
Using the pandemic as a benchmark is weird. Brexit is what really screwed it, no more cheap imports from the UK
You’d miss the better & cheaper cars from the UK.
Looks like everyone needs to learn mechanic skills now…
Time for the country to move to driving on the right side of the road and open ourselves up to one of the biggest car markets in the world, that we are intentionally self isolating ourselves from. Ireland and Malta are currently the only two countries in the EU that drive on the left.