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'Perfect storm' of Brexit and pandemic leads to record increase in cost of a used car

Jan 12, 2022 13:01 By News Northern Sound
'Perfect storm' of Brexit and pandemic leads to record increase in cost of a used car 'Perfect storm' of Brexit and pandemic leads to record increase in cost of a used car
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The DoneDeal Car Price Index found the cost of a second-hand car rose by 56% since January 2020.

The "perfect storm" of Brexit and the pandemic has resulted in the cost of a used car in Ireland increasing to an all-time high.

The DoneDeal Car Price Index has found that the cost of a second-hand car rose by 56% since January 2020.

Its index also notes that some second-hand models are now being advertised at higher prices than the newer version.

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This increase is sharper than that experienced in the UK and the author of the report, economist Dr Tom Gillespie, says "the onset of Brexit restrictions disrupted the usual flow of used cars from our closest neighbour".

Roscommon native Padraic Deane is the publisher and managing editor of Automotive Publication, and speaking to this morning's Joe Finnegan Show, he explained the difficulties Brexit has caused:

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