Fifth of UK motorists already concerned about financial impact of 2040 diesel and petrol ban

Demand for diesel vehicles plummeted 29.9% last month figures earlier this week showed

Some motorists do appear to be rethinking their purchasing decisions already (Autocar)

A fifth of UK motorists are already concerned about the financial impact of the Government’s plan to ban sales of diesel and petrol cars by 2040, a new survey shows.

Just over 20 per cent of people questioned by AA Cars in a survey of more than 18,500 drivers, said that they are worried that their petrol or diesel vehicle will lose value because of the Government’s initiative.

In fact, the fear of how the ban will impact them financially is far greater than concerns about the environment: only one in 10 said that they concerned about the impact of their current diesel or petrol vehicle on the environment.

The findings underscore figures published on Monday by the Society of Motor Manufacturers and Traders showing that the market for new cars in the UK slumped for a seventh consecutive month in October, with experts largely citing Brexit-induced market uncertainty but also a lack of clarity on the Government’s diesel policy.

“This research lends some insight into why consumer confidence is dwindling,” said Simon Benson, Director of Motoring Services at AA Cars.

“With inflation creeping northwards and Brexit uncertainty weighing on consumer purse-strings, British drivers are increasingly concerned that buying a new car isn’t the investment it once was.”

The SMMT figures showed that just 158,192 new vehicles were registered during the month, down more than 12 per cent on the same month in 2016. Across diesel vehicles, demand plummeted 29.9 per cent.

“2040 might be a long way in the future,” said Mr Benson, “but the ban on sales of petrols and diesels helps add to the picture that the days of emitting vehicles are numbered.”

“More needs to be done to improve the picture of cleaner diesel models – or we risk talking the new car market into deeper trouble,” he added.

The AA research also shows that while 67 per cent of drivers think that the ban is still so far off that it is unlikely to affect their choice of car for a few years yet, some motorists do appear to be rethinking their purchasing decisions.

A total of 8 per cent said that they would be more likely to buy a new petrol and diesel car now in order to get ahead of the ban. A further 10 per cent, however, said that they are now less likely to opt for a new petrol or diesel vehicle when buying a car.