Oireachtas Joint and Select Committees
Wednesday, 23 February 2022
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Consumer Protection (Regulation of Retail Credit and Credit Servicing Firms) Bill 2021: Committee Stage
Pearse Doherty (Donegal, Sinn Fein)
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My second point was on how this market is going to operate in the years ahead. Basically, people are not purchasing cars; they are hiring a service. They do not own the cars and they never will own them unless they pay the bill of payment at the end of the contract. There are a number of options at that point. Given the size of this market, it is important to have some analysis. Maybe there are no concerns at all. Because we are trying to encourage more people to move to electric vehicles, however, the second-hand market for diesel and petrol vehicles will shrink. As a result, an analysis of how this will market transition and where we want people to go is going to be important.