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Used car prices surge nearly 50% due to pandemic, Brexit - report

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Used car prices are now nearly 50% higher than they were just before the onset of the pandemic in January 2020, according to a new report by online marketplace, DoneDeal.ie.

The research says the spike has been caused by a combination of the pandemic hitting supplies of new cars, as well as Brexit-induced trade barriers.

The situation has been made worse by strong demand driven by the growth in household savings during the pandemic. The analysis, by Trinity College Dublin and National University of Ireland Galway economist Dr Tom Gillespie, finds that in the three months since June used car prices have increased by 10.6%.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
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Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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