Alternative Fuel Vehicle Sales Expected to Grow
- July 24, 2017
- Posted by: Kari Jones
- Category: News, Tips For Dealers
Recently, there has been increasing concern and public awareness of the impact that diesel vehicles have on the environment. Consequently, there is speculation around the extent to which this will affect the car market and it’s sales.
Click Dealer has taken a look at a recent survey by Paragon Car Finance to further investigate.
Diesel and Petrol Vehicles
29% of the brokers surveyed believed that sales of diesel vehicles in 2017 would decrease due to recent calls for action on them, in comparison to 10% who expected sales to increase. For petrol cars sales, 19% predicted a decline, while 29% per cent thought that sales would rise.
When asked how they expected trends to change over the next five years, 81% of respondents predicted a reduction in diesel vehicles sales and 52% thought that there would be a decrease in petrol vehicles sales.
Electric and Hybrid Vehicles
The UK brokers were also asked about how they thought the position of alternative fuel vehicles in the car market would change. 77% of the survey participants expected a rise in sales of electric cars in 2017 and 81% believed that we would see an increase in the sales of hybrid vehicles.
A massive 91% of respondents admitted that they expected sales of electric and hybrid vehicles to increase over the next five years.
Explanations for the Trends
Urban pollution is becoming increasingly recognised as a significant public issue and diesel cars have been recently highlighted as a contributor to the threat. As a result, it is highly likely that we will see a significant decline in the sales of petrol and particularly diesel cars.
In contrast, electric and hybrid vehicle sales will probably grow. This is due to policy incentives, like road tax exemption as well as increasing awareness and consideration of the environmental issues caused by diesel emissions and petrol vehicles.
It is clear that consumers are becoming more concerned about the environmental and economic consequences of their car purchasing decisions. As the results of Paragon Car Finance’s survey show, sales of more eco-friendly vehicles are expected to increase consistently as technology continues to improve and adapt to accommodate these concerns.
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