Declining electric car sales: ‘depreciation is wild at the moment’

Inside Business with Ciaran Hancock

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Figures from the Society of the Irish Motor Industry this week showed that electric car sales are in reverse, falling by 14 per cent year on year in March. This compared with double digit increases in the sales of petrol and hybrid car. Even diesel sales rose by 9 per cent.

Meanwhile a survey by AA Ireland found that half of the 1000 respondents would not opt to buy an electric car.

Why the hesitance to go electric? And what can be done to incentivise people to buy EVs?

Irish Times motoring editor Michael McAleer joins host Ciarán Hancock in studio to explain why EV sales are going in the wrong direction.

Also on this week’s episode of Inside Business, Irish Times economics correspondent Eoin Burke-Kennedy discusses the drop in Irish inflation for March, where it fell below 2 per cent for the first time in three years. Could this persuade the European Central Bank to begin cutting interest rates from June? And what might it mean for mortgage rates?

Produced by John Casey with JJ Vernon on sound.

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