Used EV market enters more stable phase after plunging in 2023 and 2024
Image: Ed Harvey via Pexels
After falling significantly during 2023 and 2024, used EV prices were broadly flat year-on-year by the end of 2025, according to the latest DoneDeal Cars Price Index. At the same time, electric cars have become cheaper than comparable diesel vehicles on Ireland’s used market for the first time.
According to the analysis 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. When factors such as age, mileage and model are taken into account, used electric cars are now priced around 11% below comparable diesel vehicles, marking a dramatic shift from 2022 when EVs carried a clear price premium.
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 significantly in recent years.
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Paddy Comyn, head of automotive content and communications at DoneDeal, said: “We’ve come through a full cycle in the EV market. Prices surged during the supply shortages of the pandemic years, then corrected sharply as supply improved and manufacturers cut new-car prices. 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 highlights ongoing pressures in the lower end of the used car market. Vehicles priced below €6,000 rose by 7.6% year-on-year, reflecting continued shortages of cheaper cars.
“Separately, the report shows how Brexit has 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 used car imports into Ireland, many of them European brands originally sold in the Japanese market before being re-exported.”
Dr Tom Gillespie, economist and analyst of the DoneDeal Cars Price Index, said: “The data suggests the market has found a more sustainable level. EV prices are stabilising, supply is improving and price movements are becoming more predictable again after several volatile years.”
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