Irish car prices show third biggest drop in euro zone

A new report from the European Commission shows that car prices in Ireland experienced the third largest drop in the Eurozone last year.

They fell by 5.7%, that is compared to an average of 1.5%.

The report said the falls represent changes in manufacturers price lists as well as other things like inflation and show that consumers can save money by shopping across borders.

Joaquín Almunia, Commission Vice President in charge of competition policy, said: "It is good to see that consumers in Europe are benefitting from competition in the markets for new car sales and continue to enjoy significantly falling prices in real terms.

"The fact that price differentials between Member States narrowed further is a positive indicator of cross-border competition. I am also delighted to see that for the first time in a decade, real EU-wide prices for repair and maintenance services stopped increasing, a sign that the sector has understood the new rules of the game."