Irish car values normalising after pandemic boom

New data from Cartell.ie, reveals that car values are returning to typical depreciation levels following several years of post-pandemic disruption.

Between 2024 and 2025 to date, the average vehicle owned for the last 12 months in Ireland lost 10.5% of its value on average, a faster rate of depreciation compared to 8.9% in 2023 to 2024 and 6.6% in 2022 to 2023.

In stark contrast, most cars appreciated during the pandemic. The average vehicle in 2021 was valued at almost 16% more than its market value for the equivalent period in 2020.

The latest depreciation rate findings bring the market significantly closer to typical depreciation rates, indicating that Ireland’s vehicle market has settled to its ‘new normal’. Cartell finds that on average, all new cars will lose around 50% of their value over three years, after which the price decrease slows and cars retain market values for several years.

Wesley Littleford, Commercial Operations Manager at Cartell.ie, comments on the change: “This is a reassuring sign for both drivers and dealers. For several years, we saw used car values behave in unexpected ways due to supply chain shortages and global demand. Now those conditions have largely settled and we have reverted to a more stable, predictable and transparent market where buyers and sellers alike can plan with confidence.”

The depreciation data is sourced from Cartell’s Price Guide each year to provide a comprehensive illustration of changing car values over time. The Price Guide is a vehicle valuation service available to all who purchase a Vehicle History Check at Cartell.ie – which claims to be the most trusted source for comprehensive vehicle history checks in Ireland.