Brexit exacerbating increase in price of new cars

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Brexit is one of the reasons why the cost of a used car in Ireland’s 56 percent higher than it was before the pandemic.

Some second-hand models are now being advertised at higher prices than the newer version.

The latest DoneDeal Car Price Index says supply issues linked to Brexit are a major factor.

The report’s author is economist Dr. Tom Gillespie.

On today’s Nine til Noon Show, he told Greg Hughes that there is increased demand for cars, but a shortage of new vehicles because vital semi-conductors which are mainly made in China are in short supply.

However, he says there’s another dimension to the problem here ………

 

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