Diesel car owners are already outraged at the Government’s plans for scrapping sales of diesel cars by 2040, but there is more bad news as it has been revealed the price of second-hand diesel cars has dropped by over a quarter in the last eight months.
But it’s not just second-hand diesel motors that have been affected, some new models have also seen their value drop by 21% since the start of 2017, due to drivers facing the risk of toxicity fines, higher taxes, parking surcharges and fuel duty on the rise.
Research carried out by Motorway.co.uk via the Daily Mirror shows that Vauxhall Corsas have been hit the hardest with the average price of the vehicle was down by 26.3%. Other cars dropping down include Audi A3s down by 11.3%, Vauxhall Astras dropped 17.7%, Ford Fiestas 5.77% and BMW Series 3 down by 6.18%.
Director of Motorway.co.uk, Alex Buttle, is quoted by the English newspaper stating: “Used diesel car prices are only going one way, and that’s down.
“This year has already been a total shocker for diesel owners. And now that most major manufacturers have launched diesel scrappage schemes, it doesn’t look like it’s about to get any better.
“We are seeing savvy motorists choosing petrol, electric or hybrid used cars over diesel, and that’s already reflected in the value of second- hand petrol vehicles starting to rise.”
Diesel cars are expected to drop in value by 15% on average before the end of 2017, which means more than £17billion could be wiped off the net worth of diesel car owners.
Stats are correct up until September 2017.
What do you plan on doing with your diesel car?