Diesel values drop as toxin tax fears and scrappage schemes take hold

Diesel values drop as toxin tax fears and scrappage schemes take hold
Diesel values drop as toxin tax fears and scrappage schemes take hold

The used value of diesel cars has slumped over the course of 2017, with some models seeing prices fall by as much as 26 per cent.

Worries over air pollution and the introduction of scrappage schemes are being blamed for diesel’s continued problems in a year which has seen sales of new diesel cars fall 20 per cent year-on-year.

The average value of used diesel variants of the UK’s most popular cars has fallen by nearly six per cent since the start of the year as pressure grows on cities to introduce charges for the oldest and most polluting vehicles and manufacturers rush to offer scrappage schemes.

At the same time the equivalent petrol models have seen a five per cent climb in their used, according to analysis of more than 24,000 valuations.

The Vauxhall Corsa suffered the greatest fall – 26 per cent – but premium models such as the Audi A3 and BMW 3 Series also suffered, as did diesel variants of some of the UK’s most popular cars, including the Ford Fiesta, Nissan Qashqai and VW Golf.

Recent months have seen diesel come under fire from numerous sources. Concerns over the harmful emissions from diesel vehicles have grown in prominence and a number of towns and cities are said to be considering “toxin taxes” that charge the drivers of older, more polluting vehicles for access.

More than a dozen manufacturers have also launched their own scrappage schemes in recent weeks. These programmes offer drivers thousands of pounds off a new car if they trade in their old vehicle for scrap, further harming used values in a market where sales are already down 13 per cent since last year. While some only apply to diesel models many cover any cars that don’t meet at least the Euro 5 emissions standards.

The data was obtained by analysing more than 24,000 valuations across all ages and variants on comparison website Motorway.co.uk.

Motorway’s director, Alex Buttle commented: “Our analysis shows clearly that 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 now 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. That said, for those purely after cheap deals, it is definitely ‘bargain bucket bonanza’ time in the used diesel market.”

The following table shows average valuations for some of the UK’s most popular car models, comparing diesel and equivalent petrol variants.

Used value change Q1 2017 to Q3 2017

Q1 2017

Q3 2017

Change Q1-Q3

Vehicle Model

Diesel

Petrol

Diesel

Petrol

Diesel

Petrol

Audi A3

£5,373

£4,524

£4,766

£4,759

-11.30%

5.20%

BMW 3-Series

£7,395

£3,660

£6,939

£4,096

-6.18%

11.91%

Ford Fiesta

£2,584

£3,024

£2,435

£3,246

-5.77%

7.33%

Ford Focus

£3,320

£2,645

£3,222

£3,116

-2.98%

17.79%

Nissan Juke

£7,016

£7,300

£6,729

£6,368

-4.09%

-12.77%

Nissan Qashqai

£7,861

£6,136

£7,902

£6,898

0.52%

12.40%

Vauxhall Astra

£2,949

£2,093

£2,426

£2,035

-17.75%

-2.76%

Vauxhall Corsa

£2,160

£2,064

£1,592

£1,989

-26.31%

-3.63%

Volkswagen Golf

£4,632

£4,261

£4,616

£4,587

-0.35%

7.65%

Volkswagen Polo

£2,518

£2,788

£2,556

£3,326

1.52%

19.30%

AVERAGE

£4,581

£3,849

£4,318

£4,042

-5.74%

5.00%

Budget 2017: £400m boost for electric vehicles to pave way for driverless cars

The government has thrown its weight behind electric and driverless vehicles by announcing a £400m fund to establish a network of charging

How safe are the roads near you? New index reveals country’s most dangerous routes

A new online resource has been launched to let motorists check the safety record of roads in their area.The interactive Road Crash Index has

Uber patents tech to combat car sickness in driverless vehicles

Uber has patented a technology designed to counter the motion sickness encountered by many passengers, which is likely to be used in its future

Uber plans to buy 24,000 self-driving cars from Volvo

Uber plans to purchase 24,000 self-driving cars from Volvo, creating its own fleet of driverless vehicles.The Swedish automaker confirmed it