The Skoda Octavia has emerged with a much higher second-hand value than a 5 Series BMW in an analysis of the cars most searched for online. The analysis also shows the swing away from diesel.
According to the analysis of the five most popular cars searched for online on DoneDeal, the Skoda Octavia has pipped the Volkswagen Golf into second place when it comes to having the best second-hand value after three years.
The most popular cars searched for were the Octavia, the VW Golf, the Ford Focus, the Audi A4 and the BMW 5 Series. Whereas the Octavia had lost 33 per cent of its value after three years, the 5 Series had lost 61 per cent of its value.
The Golf has 35 percent of its value, the Focus lost 48 percent, the Audi A4 lost 58 percent and the BMW 61 percent. The analysis is based on the price of the car in 2016 and its advertised price in the first six months of this year.
The analysis also confirms the swing away from diesel by new cars buyers, with Society of the Irish Motor Industry figures showing that 41 percent of all new cars are now petrol cars, with diesel at 47 percent. Only seven years ago, diesel cars accounted for 74 percent of sales. It now looks like petrol sales may well overtake diesel here for the first time since then.
Electric and hybrid sales for the first six months this year accounted for 12 per cent of all sales. Only four years ago that figure was just 1.5 percent.
Martin Clancy of DoneDEal said of the 70 million car searches that took place on DoneDeal between 2018 and the first six months of 2019, ten percent were for electric or hybrid vehicles - a 244 percent increase compared to two and a half years ago.
"Petrol searches also grew in the same period to 23%, up from 19%, while diesel searches decreased to 67% from 78%. In summary, all the key indicators in the new car market point in one clear direction: electric and hybrid vehicles are increasingly becoming the preference for consumers. With the Government target of 2030 as the year that 100% of all cars on Irish roads will be electric, the data contained in this report highlights that consumers are already making the switch", he said.