Covid and Brexit see used car prices rise by nearly 50%

'In just three months since June, used car prices have increased by 10.6%,' says the author of the latest DoneDeal Car Price Index.

Covid-19 and Brexit-induced shock to the market have meant used car prices are now nearly 50% higher than they were just before the onset of the pandemic in February 2020, a new report claims.

“Price inflation is on an unprecedented upward trajectory and showing no signs of slowing down,” said Tom Gillespie, environmental economist at the National University of Galway and author of the latest DoneDeal Car Price Index.