Electric car prices up 13% due to supply and demand issues

The average cost of a new EV was €64,755 — an increase of 13% compared to the same period last year.

Demand for EVs remains high despite the rising prices, DoneDeal have said. 

Soaring demand and lack of supply has driven the average cost of a new electric vehicle (EV) up 13% compared to the same time last year, a new analysis by DoneDeal has revealed.

Despite these price increases, demand for brand new EVs has increased by 35% in 2023. The analysis found that there is significant demand for EVs in Ireland but the limitation lies with the supply shortage which results in inflated prices.