DIESEL models are outgunning their petrol equivalents on the UK’s forecourts.
A cap hpi study says the average diesel models are selling within 45 days; for petrol this is 49 days.
Derren Martin, head of UK valuations at cap hpi said:
“Despite on-going negative coverage of diesel engines and a marked decline in new sales, the used buyer still has an appetite for diesel cars, which offer low cost of ownership and a driving dynamic that appeals to many.”
Average diesel car values dropped by more than petrol ones in June, and while the difference in value drops is not dramatic, it is a trend that has occurred throughout 2019.
Petrol hybrids dropped in price by less than the average; cap hpi says used popularity may well be on the increase.
The automotive data business says diesel still dominates the overall used car market in terms of volume, due to prior years of high registrations. It will tip toward petrol for newer vehicles, due to the shift to petrol in recent years.
Martin added: “Despite high used volumes, and contrary to what is happening in the new car market, there has been plenty of demand for used diesels and used values have held up relatively well over the last couple of years.
“Used supply will fall off significantly over the next few years, and this will help to support used values over a period when demand is likely to fall too.”
The company warns that if and when more cities implement charging or exclusion zones for older diesel cars then it could create local pockets where older diesel cars could struggle to sell, but they will still have a market, at a good price, in rural areas away from these cities.
JOIN THE DISCUSSION
Why not join the conversation on SME fleets – visit our LinkedIn SME Fleet Discussion page
