It’s a bad day to be a diesel driver.
The value of used diesel vehicles has fallen by up to 26 per cent in the UK following the introduction of scrappage schemes and toxin taxes.
Average values of second-hand vehicles has plummeted by 5.7 per cent across the board.
Cars like the Vauxhall Corsa have been hit hardest with a decline of 26.31 per cent in value since the start of the year.
Conversely, the value of petrol cars has, for the part, increased since January.
For example, the Volkswagen Polo has enjoyed a healthy rise of 19.30 per cent since the start of the year.
The Ford Focus has seen an similar increase of 17.79 per cent, according to research commissioned by Motorway.co.uk.
Attitudes towards diesel cars have soured over the course of the year, thanks to the introduction of diesel scrappage schemes, toxin taxes and revelation of the harmful effects of nitrogen oxides on humans.
These changing attitudes can be traced back to the Volkswagen emissions scandal of 2015, when it came to light that 11 million vehicles were fitted with defeat devices designed to cheat emissions tests.
Motorway.co.uk analysed more than 24,000 valuations of the 10 most popular second-hand cars in the UK made since the start of the year.
The research clearly showed the impact these changes in attitude and introduction of new diesel emissions targeted schemes on the car market.
Motorway.co.uk Director Alex Buttle said: “Our analysis shows clearly that used diesel car prices are only going one way – and that’s down.
“This year has already been a total shocker for diesel owners.
“And now that most major manufacturers have launched diesel scrappage schemes, it doesn’t look like it’s about to get any better.
“Diesel cars are really starting to look like white elephants.
“We are now seeing savvy motorists choosing petrol, electric or hybrid used cars over diesel, and that’s already reflected in the value of second hand petrol vehicles starting to rise.
“That said, for those purely after cheap deals, it is definitely ‘bargain bucket bonanza’ time in the used diesel market.”