Vehicle history and data expert Cartell.ie and car sales platform CarsIreland.ie have produced some interesting new figures on the average value of a new car purchased in Ireland. 

Cartell.ie looked at the average Open Market Selling Price of all new cars purchased between January and October in every year between 2003 and 2021. The results showed that the average value for a new car purchased in 2021 was €35,199. This is the fourth year that average values have exceeded the €30,000-mark.

The strongest growth in the new car market over the past number of years falls in the €30,000 to €40,000 price bracket. This band constituted less than 10% of sales back in 2003 and was then the third most popular segment: it is now ahead of all of the other segments. The €20,000 to €30,000 band now falls into second place. 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 21% of the market up from 12% in 2018).

Cartell says the show that the buyer is spending more money than ever before on their new car. It suggests reasons for this may include; consumers favouring more expensive vehicle types like SUVs, Crossovers and MPVs, plus buyer affluence and the increased availability of financial products. Increasing electricification and the adoption of ADAS technology has also put prices higher. The global chip shortage has also certainly played a part as manufacturers prioritise the sale of higher-end models. 

John Byrne, Cartell.ie says, “This is the first time that the €30,000 to €40,000 segment is the strongest selling tier of the market. Certainly cars are laden with technology including the roll-out of Advanced Driver Assistance Systems Features. This adds to the cost of manufacture of the vehicle but it also means new cars are surely the safest they’ve ever been.”