Moving toward a target of emitting almost zero carbon emissions by 2050, a ban on the sale of diesel cars is going to be brought forward.
The Diesel Car Sales Ban
The ban is going to be introduced in 2035, which is five years earlier than was originally planned. This comes after experts have warned that 2040 is going to be too late if the UK is hoping to reach the emissions target by 2050. Around a third of the CO2 emissions from the UK come from transport, so this ban will certainly go a long way to helping to reach the goal by the deadline. It won’t be attainable without bringing the ban forward. This means that from this date, only new cars allowed to be sold in the UK will be electric and hydrogen powered.
How This Will Impact Second Hand Diesel Car Sales
But, what is this going to mean for second-hand car sales? Well, actually, it is going to mean good things because even when the ban comes into effect in 2035, you will still be able to buy a second-hand diesel car, or carry on driving one that you currently own. This ban is only going to apply to new cars. In fact, it could even see the second hand car industry boom around 2034, as people start buying combustion cars for the very last time before we move towards a new, eco-friendly way of driving.
The demand for a second-hand diesel car is going to rise now that the ban is coming into effect. People are turning away from the newer models now that the country is moving towards cleaner air, and instead buying cars that are already out there. The value of the new car market is on a downward spiral, while the used car market is seeing its best days in years. With all the uncertainty surrounding the ban, people don’t want to invest in a new car if they are no longer going to be able to drive it in 15 years. Many people stick with the same cars for long periods of their life, and they no longer feel as though the investment is going to be a solid one. They would prefer to buy a second-hand car for a lot less money and then buy another one if the time comes.
That is why there is expected to be a boom in 2034 when people are looking to still own a combustion engine on the right side of the law. Embracing change isn’t always easy, and not everyone is a fan of the electric cars due to the time they need to charge vs. how long they actually run for. Some people will want to stick with what they know, and the used diesel car market is going to be the best way for them to do that.
Well, now you know about the diesel car sales ban and what it’s going to mean for the used car market. Let us know what you think!