The dilemma faced by motorists to ‘ditch the diesel’ has never been greater than in recent months.
Faced by a ‘perfect storm’ of Government regulations and a flurry of scrappage schemes announced by the major car manufacturers, diesel car owners have never had more pressure or opportunity to get rid of their ‘dirty diesels’.
It all begs the question should I sell my diesel car and if so when? Well the market conditions for selling your diesel car have never been stronger.
The Society of Motor Manufacturers and Traders ((SMMT) reports a 6.4% decrease in new car registrations during August – with diesel sales coming off worst as they endured a whopping 231% fall in new registrations.
The same SMMT figures for August show more people chose to get behind the wheel of an electric car than ever before in any given August month, accounting for a 5.2% of the market.
It comes as UK marque car manufacturer Jaguar Land Rover announced that from 2020 across all its ranges there will be an electric or hybrid option.
Ralf Speth, Chief Executive at Jaguar Land Rover (JLR), said: “One thing is clear the future will be electric.”
“Every new Jaguar Land Rover model line will be electrified from 2020, giving our customers even more choice. We will introduce a portfolio of electrified products across our model range, embracing fully electric, plug-in hybrid and mild hybrid vehicles.”
So if as JLR say the future is electric and consumers are getting more switched on to electric cars, what are the options, if you want to dump your diesel car?
There is an ever-growing array of manufacturer led scrappage schemes, offering varying levels of trade-in discounts and finance incentives.
Most recently Volkswagen UK announced its own scrappage scheme under which owners of any diesel-engined vehicle registered before 2010 can receive up to £6,000 towards a new car fitted with a cleaner Euro 6-compliant engine.
Diesel-engined vehicles, not part of the Volkswagen Group, will also qualify for the deal. Buyers can put any money they receive for trading in their old vehicle towards a host of car brands within the Volkswagen Group including Audi, Seat and Skoda.
Prior to the Volkswagen Group and Toyota announcements, Ford announced its scrappage scheme. The Ford scheme will offer an additional £2000 off any models, in addition to existing deals, with a good example of such a deal being the opportunity to have £4000 taken off the cost of a new Kuga car.
The incentive applies to Euro 1-4 cars and all traded-in vehicles will be scrapped. The biggest saving available is on the Transit; an existing deal of £5000 off its list price, plus a £2000 scrappage incentive, bringing the total saving to £7000.
The roll-out of scrappage schemes was started by BMW in the summer. BMW UK announced its Lower Emissions Allowance, a trade-in scheme offering drivers of Euro 4 and older diesels a £2,000 discount when they trade in and upgrade to a new car.
Under the scheme customers are offered a £2,000 subsidy to upgrade to a new Euro-6 compliant vehicle, and all new BMW and MINI cars with emissions under 130g/km will be available with the discount until the end of the year.
Harald Krüger, BMW’s Board Chairman, said: “For almost two years now, diesel technology which is cutting-edge, highly efficient and popular with customers has been deliberately and publicly discredited.
“This has caused tremendous uncertainty among millions of drivers and it’s not going to get us anywhere.”
Along with the OEM scrappage schemes, the Government is currently considering options for its own scrappage scheme and is set to make an announcement in November regarding their final decision.
Recent reports on the value of diesel cars for 2017 have shown an estimated 5.6% drop in value to under £11,000, for the average diesel car in the second quarter of 2017. More alarmingly many experts predict that the average diesel car could be worth up to 15% less by the end of 2017.
So with all this information available, to sell or not to sell is the question we return to when considering the future of our diesel car?
Well first of all let’s consider the array of diesel scrappage schemes which provide an abundance of opportunities to trade in your diesel car for a cleaner, greener option.
The best advice is that with so many schemes now out there do your research and find the one best suited to what you are looking for. Add in the new reg plates out in September in what is traditionally a very busy for the industry and the opportunities for a good deal on a new car are plentiful.
That’s all good but what about the Government’s scrappage scheme, should I wait for that? Yes if you want to cover all the market bases.
However with no firm commitment to a scheme and suggestions that drivers will receive at most up to £2,000 to scrap their diesel vehicle and only be offered to owners in the most polluted areas, waiting for the Government may prove a false economy of time and money.
So again should I sell my diesel car? Well the market and all its the indicators, falling values etc, would suggest yes.
OK if yes, when? Well now is as good a time as any with all the scrappage schemes announced and incentivised opportunities on offer, but make sure you shop around before committing to your purchase.
It all suggests the diesel selling dilemma is over, but what should we switch to and what is the best option is a debate for another day but it seems to be pointing towards an electrifying future.