Drivers switching from diesel to petrol could be wasting hundreds of pounds per year
Vehicle data experts Cap HPI warns that high-mileage motorists should not be put off by bad press for diesel
Motorists looking to ditch their diesel vehicles are being advised to reconsider as they could save a minimum of £380 per year, experts claim.
Vehicle data analyst Cap HPI has warned motorists could find themselves out of pocket if they decided to swap their diesel vehicle out for an equivalent petrol model.
The driving factors behind these savings, Cap HPI claims, are greater fuel efficiency as well as stronger residual values on the used market.
Matt Freeman, managing consultant at Cap HPI, said: “With many consumers concerned about the rising cost of living, diesel was a clear choice for anyone looking to reduce the cost of motoring.
“With greater fuel efficiency, competitive maintenance costs and higher residual values, diesel vehicles offered real, long-term cost-saving benefits. £380 annual savings on fuel alone translates to over a £1,140 saving on three years’ motoring.”
Freeman explained that while diesel residual values were starting to soften, there hasn’t been the sharp decline that so many predicted in the wake of the government’s changing attitudes towards the fuel.
“For new vehicle buyers there will be much more choice in coming years: almost every manufacturer is launching hybrid, plug-in hybrid and full electric vehicles over the next five years,” he said.
“But again, consumers need to make informed choices based on their needs, or they risk paying the price at the pumps.”
Cap HPI’s claims come amid reports that the government is considering a surcharge or tax on the sale of new diesel vehicles.
Responding to the reports, RAC chief engineer David Bizley said: “We are concerned that those who drive long distances, business drivers especially, might consider sticking with their older diesels given the superior economy they offer.
“It [the surcharge] would be a terrible, misjudged ‘knee-jerk’ reaction, which could backfire and have the unexpected effect of encouraging these owners of older diesels and fleets not to upgrade to newer, cleaner diesels which offer significant benefits in reduced emissions.
“While a new tax might be logical in the short term, this logic will likely not apply within a year or so.
“The possibility of a sudden rush to petrol engines also risks a new rise in CO2 emissions, precisely what previous governments tried to avoid by encouraging drivers into diesel vehicles.”