Motorists could find themselves out of pocket, potentially by hundreds of pounds a year, if they choose to switch to a petrol model from the diesel equivalent, it has been claimed.
Vehicle data experts at CAP HPI say motorists could typically save at least £380 a year by sticking with diesel vehicles.
One factor that has undoubtedly driven the popularity of diesel is fuel efficiency, helping to bring down the total cost of motoring for owners. “With many consumers concerned about the rising cost of living, diesel was a clear choice for anyone looking to reduce the cost of motoring,” explained Matt Freeman, Managing Consultant at CAP HPI. “With greater fuel efficiency, competitive maintenance costs and higher residual values, diesel offered real, long-term cost-saving benefits. A £380 annual saving on fuel alone translates to over a £1,140 saving on three years’ motoring.
“Although residual values for diesels are starting to soften, there has not been the catastrophic decline predicted by some observers. It’s important for drivers to look at their real-world use of their vehicle and select the right powertrain. If you’re a high-mileage driver, you should still be considering a diesel vehicle because of the better fuel economy. It’s important that consumers make informed decisions.”
“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. But again, consumers need to make informed choices based on their needs, or they risk paying the price at the pumps.”