Buyers now favour new hybrids over diesel
Insurance comparison website GoCompare has conducted a survey of 2,000 people asking which fuel type they would favour for their next car. The results showed that more new car buyers are now looking at hybrids than diesels.
Only 18 per cent of those considering a new car favoured a diesel, whereas 22 per cent said they’d consider a hybrid.
January 2019 saw a 26.3 per cent increase in the number of AFV’s registered year-on-year.
2018 was a difficult year for diesel with rising tax for newly registered vehicles and several major cities across Europe drawing up plans to ban diesel vehicles. The UK government plans to ban the sale of new petrol or diesel cars by 2040.
Sales of alternatively fuelled vehicles (AFVs) have been rising quickly in the UK. January 2019 saw a 26.3 per cent increase in the number of AFV’s registered year-on-year.
As a result of this drop in demand, many car manufacturers are now stopping the production of diesel engines, including Toyota, Kia, Volvo and Porsche.
GoCompare also revealed that 55 per cent of their survey respondents were considering a petrol vehicle while only 5 per cent were looking to make the full switch to electric.
This trend does not seem to have fully translated yet onto the used car market. Figures released by Auto Trader show that the online marketplace actually saw a 4.5 per cent growth in price for used diesels. This represents the highest growth rate since August last year.
On this front, used diesels are performing better than their petrol counterparts, which saw a 3.7 per cent price growth in the same period.
Auto Trader revealed that searches for diesels on their site tell a different story, however. The marketplace said that searches for the fuel-type are at an all-time low.
Commercial product director at Auto Trader, Karolina Edwards-Smajda, said: “Fuel represents just one in five searches on our marketplace, so whilst the sustained decline in diesel is significant, it’s not representative of all consumers.
“Our research consistently shows that they’re not limiting their search to a type, but considering all as part of their next car journey; new, used, petrol, diesel, or electric. Retailers should be marketing to them accordingly.”