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Political pressure is growing against diesel cars in Britain, which is leaving many diesel owners worried. Because of this, vehicle data service HPI has opened up its future valuations tool to both car buyers and sellers for two months, in an attempt to counter the current anti-diesel mood.
Not only will a current price of a car be presented, but values up to five years into the future will also be listed. It’s the first time, reckons HPI, that future valuations have been made freely available to the public like this.
HPI consumer director Fernando Garcia said: “We’ve enhanced our valuations service in an attempt to combat the negativity surrounding diesel. And although the free future valuations will be of great interest to all drivers looking to sell or buy their vehicles, it will be particularly useful to owners of diesel vehicles who may be worried about what the future holds for their vehicle’s value.”
The firm’s senior forecasting editor Andrew Mee said the situation around diesel values at the moment is complex. In some sectors, the diesel premium over petrol has been declining for some time, so this is not a new phenomenon; in other sectors diesel still makes sense and values have been holding up relatively well.”
He did, however, admit that greater depreciation for diesel models over their petrol equivalents has already been factored into HPI valuations. “In our forecasts, we have already built in higher annual deflation for diesel (over petrol) in some sectors, and will be reviewing this again in the next few months.”
The review of diesel prices comes as growing numbers of businesses and organisations urge the government to tackle air pollution – much of which, claims HPI, comes from traffic fumes and diesel vehicles. As pressure mounts to remove the most polluting diesel cars from British roads, so diesel owners’ concerns about their cars’ values increases. HPI hopes it can help at least a little to address this.