Electric vehicles have become cheaper than comparable diesel cars in Ireland’s used car market for the first time, according to a new report from DoneDeal Cars. The analysis also suggests that the sharp decline in second-hand EV prices in recent years is now easing, indicating the market may be entering a more stable phase after a prolonged period of volatility.
The report found that after significant price drops throughout 2023 and 2024, used electric vehicle prices had largely stabilised by the end of 2025. This trend suggests that the substantial market correction in EV values has likely reached its endpoint.
Data from the study shows that a typical three-year-old electric car now carries a median asking price of €28,825. By comparison, a diesel car of the same age averages €35,893. When factors such as vehicle age, mileage and model are taken into account, used electric cars are priced around 11% lower than comparable diesel vehicles. This marks a notable shift from 2022, when EVs typically commanded a price premium over traditional powertrains.
Petrol-powered vehicles still represent the lowest upfront cost for buyers. A typical three-year-old petrol model has an average price of around €22,900. However, the price gap between petrol cars and EVs has narrowed steadily in recent years.
According to the report, the used-EV market is now moving into a more balanced stage after a turbulent period driven by declining new-car prices, reductions in government purchase incentives and a growing supply of electric vehicles entering the second-hand market.
“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 stated.
It added that the price correction has played a crucial role in helping the sector reach broader market maturity. While early adopters experienced significant depreciation, the lower prices have helped create a healthier and more accessible used EV 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,” the report said.
Tom Gillespie, an environmental economist at the University of Galway, said several factors combined to drive EV prices down in recent years. He described the situation as a “perfect storm” involving sharp reductions in new-car prices, reduced government grants, concerns about charging infrastructure and weakening consumer confidence.
However, Gillespie noted that conditions now appear to be improving. “Used prices have remained stable and the share of new EV registrations continues to increase,” he said.
The DoneDeal analysis also highlighted how Brexit has reshaped Ireland’s used-car supply chain. Imports from the United Kingdom have fallen significantly since 2019, while Japan has become a major source of second-hand vehicles. Japanese imports now account for around half of all used cars brought into Ireland.
Many of these imports are European brands originally sold in the Japanese domestic market before being re-exported to Ireland.
Paddy Comyn, DoneDeal’s head of automotive content and communications, said the EV market has effectively completed a full cycle in recent years.
“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.”
Comyn added that one of the most significant changes for consumers is that electric cars no longer carry a premium over diesel vehicles. “In many cases they’re thousands cheaper, which is a significant turning point for buyers considering making the switch,” he said.
Despite easing prices in the EV segment, the report noted ongoing pressure at the lower end of the used-car market. Vehicles priced below €6,000 saw values rise by 7.6% year-on-year, reflecting a continued shortage of affordable used cars.
