‘Toxin taxes’ see diesel cars plummet in value

THE value of some diesel cars has plummeted by up to 26 per cent in just six months, a survey revealed yesterday.

The Government’s resolve to tackle air pollution linked to diesel engines has seen some cars depreciate by up to £607.

Plans, including “toxin taxes” and “scrappage schemes”, have forced down diesel prices by an average of nearly six per cent, as used-car buyers switch to petrol engines.

Details of the latest headache for diesel owners are revealed in an analysis of 24,000 vehicles by price comparison website motorway.co.uk.

Researchers found that between the first and third quarters of this year, average prices for the most popular diesel cars fell by 5.7 per cent.

The researchers also found that the value of used petrol vehicles rose by five per cent over the same period.

Vauxhall Corsas suffered the biggest devaluation over the same period, with an average Corsa diesel dropping 26.3 per cent, from £2,160 to £1,592.

Another big loser was the Vauxhall Astra diesel variant which suffered an average fall in value of 17.7 per cent to £2,426.

At the higher end of the market, Audi A3 diesel lost an average of £607 – 11.3 per cent – to leave owners with a car worth £4,766.

Damaging

The analysts also found that a second-hand BMW 3-Series diesel dropped 6.2 per cent in value, from £7,395 to £6,939.

Transport chiefs want to move over to petrol.

Their recommendation to switch came after evidence that diesel’s nitrogen oxide emissions are more damaging to air quality than originally thought.

They have proposed a raft drivers of new taxes along with a scrappage scheme, which would see drivers paid up to £2,000 to get rid of their diesel vehicle in favour of a petrol alternative.

Alex Buttle, director of motorway.co.uk, said: “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.

“Diesel cars are really starting to look like white elephants.

“We are now seeing savvy motorists choosing petrol, electric or hybrid used cars over diesel.

“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.”