The crash happened on the N72 at around 10 o'clock this morning.
Investigating officers say the three deceased were travelling in the same car – the victims' ages and genders are not yet known.
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Six occupants in the other vehicle, including children, were airlifted to Cork University Hospital and University Hospital Waterford for treatment on injuries.
Gardai are appealing to anybody who was travelling on the N72 between the junctions with the N25 and the R672 at around 10am this morning, to contact Dungarvan Garda station.