Used electric cars are now priced around 11% below comparable diesel vehicles, according to a new report.
The data from DoneDeal Cars compared the difference in price between electric vehicles (EVs) and other fuel types on a like-for-like basis - taking factors such as age, mileage and model into account.
Motoring journalist Geraldine Herbert told Behind the Story that resale values for electric cars seem to have stabilised.
She said: "Recent data from DoneDeal suggests that it’s finally stabilised. There was a lot of confusion as to why the depreciation was such an issue with EVs.
"Essentially what it was about was carmakers changing the price of new cars."
Ms Herbert gave an example of why prices for EVs were unpredictable until recently.
"If you bought a car worth €40,000 today and in two weeks’ time the carmaker was selling that new car for €35,000, you were not going to get back the money you expected at the end of three years – this was creating a lot of instability in the market," she explained.
"Carmakers have stopped reducing the price of EVs.
"The price of new EVs have stabilised and we’re now seeing that same stabilising happening in the second-hand market, which is good news for everyone."
Charging EVs
Ms Herbert said she believes the next obstacle for drivers of EVs is around charging points.
"The barriers have kind of shifted from price and availability to now confidence in the infrastructure," she said.
"The infrastructure is a very big issue – it’s improved drastically… but the problem is it’s quite patchy."
2030 targets?
Ms Herbert said a Government target to have 30% of the country’s private car fleet switched to electric by 2030 is unlikely to happen.
"They have about 200,000 electric cars on the road at the moment – that’s if you factor in battery, electric and plug-in hybrid," she said.
"That means there’s a shortfall of about 645,000 to be made up.
"Effectively that means every new car sold between now and the end of the decade would have to be electric to meet that – that’s not going to happen.
"That target was always unrealistic."
Tusla
Fran and Paul also look at a rise in the number of children in Tusla's care who were placed in unregulated Special Emergency Arrangements throughout last year.
This is where children in care are moved to accommodation, such as hotels and short-term rentals, that are run by private companies for what is supposed to be short periods of time.
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