Used diesel car prices have fallen 6.9% over the past 12 months, on average, according to the latest data from Solera Cap HPI.
Its analysis of vehicles at three years and 30,000 miles shows that the decline has sharpened noticeably since March, as rising pump prices have put greater pressure on demand.
The RAC reported that a litre of diesel exceeded £2 for the first time ever earlier this month, with the latest data showing, the average has now crept back down to 199.9p per litre.
Solera Cap HPI’s data shows diesel increasingly separating from other fuel types during spring and summer, while hybrid and battery-electric vehicle values have moved in the opposite direction.
Chris Plumb, head of current valuations at Solera Cap HPI, said: “The change in diesel values has become much more pronounced since March.
“Over the past 12 months, values at three years and 30,000 miles have fallen by 6.9%, and the trajectory shows how quickly buyer sentiment towards running costs can feed through into used car prices.
“Diesel at around 195p a litre is difficult for buyers to ignore, particularly when they are comparing it with hybrid and electric alternatives.
“Retailers are seeing that reflected in demand, with diesel stock needing to be particularly desirable or competitively priced.”
Hybrids, according to Plumb, are proving much more resilient. “For many buyers it offers lower fuel costs without requiring a change in how they use or refuel their car, and that is supporting demand and values,” he explained.
