Electric cars have become cheaper than comparable diesel vehicles on Ireland’s used car market for the first time, a report from DoneDeal Cars has said.
The sharp decline in second-hand electric vehicle (EV) prices also appears to have stabilised, said the report, which suggested the market was entering a “more settled phase” after years of volatility.
After falling significantly in 2023 and 2024, used-EV prices were broadly flat year-on-year by the end of 2025, suggesting the major price correction “has now run its course”, DoneDeal Cars said.
Across all cars in the data set, a typical three-year-old electric car now has a median asking price of €28,825, compared with €35,893 for a diesel vehicle of the same age.
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When factors such as age, mileage and model are taken into account, second-hand electric cars are now priced about 11 per cent below comparable diesel vehicles, marking a shift from 2022 when EVs carried a price premium.
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Petrol cars remain the cheapest option upfront, with a typical three-year-old model priced at around €22,900, but the gap between petrol and electric vehicles has narrowed in recent years.
“The data suggests the used-EV market has now entered a more stable phase following a turbulent period triggered by falling new-car prices, reduced purchase grants and increased supply of electric vehicles entering the second-hand market,” the report said.
“Ultimately, this price correction is the mechanism required for mass market maturity. The falling prices, while painful for early adopters, have resulted in a healthy, accessible and burgeoning second-hand market.
“With the financial penalty for choosing electric removed, we expect this improved affordability to be the primary catalyst for accelerating the transition to zero-emission driving in the coming years.”
Tom Gillespie, environmental economist at the University of Galway, said the “downward pressure” on prices was driven by “a perfect storm of slashed new car prices, reduced grants, charging infrastructure anxiety and wavering consumer confidence”.
“However, this now seems to be a thing of the past: used prices have remained stable and the share of new EV registrations continues to increases,” he said.
The report also said Brexit had reshaped Ireland’s used-car supply chain. Imports from the UK have fallen sharply since 2019, while Japan now accounts for roughly half of all second-hand car imports into Ireland.
It said many of the used-car imports from Japan were European brands that were originally sold in the Japanese market before being re-exported.
Paddy Comyn, DoneDeal head of automotive content and communications, said the EV market had “come through a full cycle”.
“Prices surged during the supply shortages of the pandemic years, then corrected sharply as supply improved and manufacturers cut new-car prices,” he said.
“What we’re seeing now is the market settling into a more normal pattern.
“The big shift is that electric cars are no longer carrying a premium over diesel. In many cases they’re thousands cheaper, which is a significant turning point for buyers considering making the switch.”
The report also highlighted ongoing pressures in the lower end of the used-car market. Prices of vehicles below €6,000 rose by 7.6 per cent year-on-year, reflecting continued shortages of cheaper cars.
