Car Prices Surge Up to 80% in Ireland Over Last Decade

UPDATE: New data reveals that car prices in Ireland have surged by up to 80% in just a decade, significantly outpacing wage growth and inflation rates. The Society of the Irish Motor Industry (SIMI) confirms that average new car prices have skyrocketed, leaving many potential buyers struggling to keep up.

The most popular car today, the Hyundai Tucson, starts at €40,645, compared to the €25,495 price tag of its predecessor, the ix35, in 2015. This represents an astonishing 60% increase. Similarly, the Nissan Qashqai has seen a price jump from €24,695 to €39,990, marking a 62% rise.

The Škoda Octavia has also increased dramatically, from €18,995 in 2015 to €33,070 today, a staggering 74% hike. While these cars offer enhanced safety features and technology, loyal buyers face a harsh reality as the price of entry has escalated.

For executive drivers, the situation is equally alarming. The BMW 5 Series now starts at €73,436, up from €44,830 in 2015, a jump of over 60%. Similarly, the Audi A6 has risen from €44,750 to €66,290, reflecting a trend that shows no sign of slowing down.

In the budget segment, the Dacia Spring is currently the cheapest new car at €15,990, but this is still a significant increase compared to the sub-€10,000 options available in 2015, such as the Fiat Panda at €9,995.

The wage growth in Ireland has not kept pace with these soaring prices, with average weekly earnings rising from around €700-€750 in 2015 to over €1,000 in 2025. While this represents a 30-40% increase, it is still far behind the price hikes of 50-80% seen in new cars.

Inflation has only accounted for a fraction of the price increase, with general inflation running at about 25% over the decade. Key factors driving the surge include stricter safety regulations, advancements in technology, and rising raw material costs. For instance, the price of hot-rolled coil steel has jumped from around $360 per ton in 2015 to approximately $830-852 today.

Despite these challenges, sales figures remain steady, with approximately 124,000 units sold both in 2015 and so far in 2025. This indicates a resilient demand for new cars, despite their increasing cost.

As the car market evolves, consumers are left to navigate the tension between rising prices and stagnant wage growth, making the dream of purchasing a new car increasingly difficult to achieve.

Stay tuned for more updates as this story develops.