Price of diesel cars slumps as drivers seek greener options

USED diesel cars have lost up to a quarter of their value since the start of the year in anticipation of a government crackdown on polluting cars, figures show.

Data from Motorway.co.uk show the average value of diesel variants of most popular car models have fallen by 5.7 per cent, from £4,581 to £4,318.

Worst hit were used Vauxhall Corsas, which dropped in value by over a quarter (26.3 per cent), from £2,160 to £1,592. Vauxhall Astras also decreased by an average of 17.7 per cent from £2,949 to £2,426 over the period, while diesel Audi A3 models fell by 11.3 per cent from £5,373 to £4,766.

It comes after the Government threatened a crackdown on diesel engines – seen as a pollution risk – prompting car manufacturers to launch scrappage schemes to encourage people to ditch older diesel cars and buy new “greener” models instead.

The car website analysed more than 24,000 used car valuations made since the start of the year, for 10 of the most popular cars in the UK. Over the same period the average price of popular used petrol cars increased by five per cent, as demand for “dirty diesels” appears to be falling dramatically.

The best performing diesel in the study was the Volkswagen Polo, which rose in value by an average of 1.5 per cent, from £2,518 to £2,556.

Alex Battle, director of Motorway. co.uk said: “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, and that’s already reflected in the value of secondhand petrol vehicles starting to rise. That said, for those purely after cheap deals, it is ‘bargain bucket bonanza’ time in the used diesel market.”