Used-electric vehicle market showing 'signs of recovery'

DATA FROM DONEDEAL, released today, shows Ireland’s used electric vehicle (EV) market is showing signs of recovery and stability.

According to DoneDeal, used-EV prices are now more affordable than equivalent diesel and hybrid models.

Used-EVs are now 11.2% cheaper than comparable diesel cars and 12.7% cheaper than equivalent hybrid models on a like-for-like basis, the report says. 

And while used-EVs are dearer than used-petrol cars, the gap is narrowing, from 30% in 2022 to just 10.7% in the second half of 2024.

Demand for used EVs on DoneDeal is also up 29% in the past year.

Other data shows that used car imports increased by 21% last year to over 60,000. However, this is 46% below 2019 levels of 113,000.

And a significant change has happened in the source of the imports, with 75% of imports now coming from non-UK sources, a stark contrast to 2019, when 95% of all imports were UK-sourced vehicles. 

DoneDeal noted that demand for used cars on its website declined by 15% in the second half of last year when compared to the first half.

However, the last quarter of 2024 saw a rebound, with demand rising 20% year-on-year when compared to Q4 of 2023.

The supply of used cars on the platform also grew by 4% across 2024.

Online portal

Meanwhile, the Consumer Protection watchdog has called on the Transport Minister Darragh O’Brien to “deliver better and easier access to information for buyers of used cars”.

The Competition and Consumer Protection Commission (CCPC) has warned that consumers in Ireland have to “rely on the honesty of sellers of used cars to tell them about the condition of that vehicle”.

However, this can expose consumers to misleading practices, as well as deceptive or ill-informed private sellers.

The CCPC warned that consumers aren’t able to check if what they are being told by the seller is true due to a lack of access to verifiable information.

‘One-stop shop portal’

Last year, the CCPC received 3,192 contacts to its national consumer helpline concerning issues related to second-hand cars.

These related to a range of issues including clocked cars, previously crashed cars, excessive repair/resolution times, and recurring faults after repair.

Other consumers reported issues with misleading advertising and mis-selling.

The CCPC also noted that Ireland compares poorly with countries such as Australia and the United Kingdom, as well as many European countries, in providing online access for consumers to information about the history and condition of used cars.

It said that consumers should be “armed with the information they need when buying a used car to help them avoid being misled into making a purchase they would not otherwise have made”.

It has called on O’Brien to establish a “one-stop shop portal for free access to vital information on the history of used cars”.

This would include information such as if the car has been in a crash, the car’s verified mileage, if there has been a safety recall on the car, and if the car was imported into Ireland.

The CCPC said that allowing consumers to more easily access this information would help limit the number of dangerous, clocked, or poorly repaired cars on Irish roads, as well as helping consumers to avoid being at a loss.

‘In the public interest’

The CCPC stated that while much of this information is already gathered by the State, it is “either inaccessible or available only for a fee from commercial car history providers”.

“Action is urgently required to enhance and extend the delivery of information on used cars by the State to help consumers to avoid being misled, by both traders and private sellers,” said the CCPC.

While the CCPC stated that it has a “strong record of acting against traders who fail to share important information or who give false details about a car”, it added that an online system would ensure fewer people are misled.

However, when a car is purchased from a private seller, these sales are not covered by consumer protection laws and that CCPC cannot take action if someone is misled.

Brian McHugh, Chair of the CCPC, called on the State to close the knowledge gap for consumers.

“CCPC officers carry out regular investigations, inspections and enforcement action, but arming consumers with information is the most efficient and cost-effective way to help safeguard every second-hand car sale in the country,” said McHugh.

“Sharing car history with buyers will protect all road users, helping to keep dangerous cars off Irish roads.

“It is in the public interest to have an open, free and accessible State database of essential car history information.

“Much of this information is already collected by the State. Some of that is made available to traders and car history providers, but not directly to consumers.

“We also know that information available from car history providers can be incomplete. Consumers deserve better.”