Average value of new car in Ireland now over €33k

Cartell.ie has reported on the average value of a new car purchased in Ireland, looking at the average Open Market Selling Price of all new cars purchased between January and October in every year between 2003 and 2020.

The results showed that the average value for a new car purchased in 2020 is €33,287. This is the third year that average values have exceeded the €30k mark.

Furthermore the strongest growth in the new car market over the past number of years falls in the €30,000 to €40,000 price bracket (constituting 32% of the total).

This band is now the second most popular bracket overall marginally behind the €20,000 to €30,000 band (34% of the total) which has noticeably dropped off since 2012 (when it constituted 53% of the market).

Even the bracket at the higher end of the market, the €40,000 to €60,000 bracket has increased in popularity since 2018 (now constituting 19% of the market up from 12% in 2018).

Jeff Aherne, Innovation Lead, Cartell.ie says: “These results show that buyers are willing to purchase more expensive cars. Vehicles are tech-heavy now with manufacturers offering multiple technological enhancements to vehicles.

“This is undoubtedly contributing to the price. Cars are also laden with safety features which increases the cost of manufacture for the vehicle.

“Ultimately the buyer is prepared to buy more expensive vehicles and the availability of various different finance offerings may also be playing a role in this.”