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Real car prices in Ireland (price change set against inflation) fell by nearly six per cent last year, representing the third biggest drop in the Eurozone.

The European Commission’s latest car price report shows that real car prices (price change set against inflation) in Ireland fell by 5.7 per cent in 2010. This is the third biggest drop in the Eurozone and well above the -1.5 per cent eurozone average. Car prices fell in almost every EU country in 2010. Taking all EU countries together, the average drop in car prices is 2.5 per cent in real terms in 2010. List prices for new cars also converged slightly. These long-term price trends support the Commission's decision last year that specific competition rules for the sale of new cars are no longer justified.