The values of used diesel business cars are wilting.
Meanwhile used prices of petrol business cars continue to rise.
In the second quarter (Q2) of 2007, the used business car diesel premium has disappeared.
The findings are reported by BCA in its latest Pulse auction house commentary.
Traditionally, values of used ex-lease diesels have been higher than petrol vehicles, despite their higher mileage.
However, the differential has been narrowing, and in Q2 was reversed.
- Q2 petrol car average: £7319
- Q2 diesel car average: £7014
- Petrol premium over diesel: 4.3%
.
It is the first quarter where average business car petrol prices have exceeded diesel car values.
“Average diesel values have fallen in each of the last three months although they remain well ahead, year-on-year,” commented Simon Henstock, small business specialist, BCA.
“Of course, these lease-sourced diesels come to the market at a much higher average mileage, and mileage-adjusted values would tip the price premium back in diesel’s favour. However, the long-term price trend clearly seems to indicate a continued narrowing in values between petrol and diesel.”
However, behaviour in the part-exchange sector is not demonstrating the same trend.
Here, diesel values crept above £5000, while petrol values have stalled under £3000 for the period.
Further information
- Would you be better off buying a petrol car rather than a diesel? Read our Special Report ‘Is your business wasting money on diesels?’ at
www.businessmotoring.co.uk.
Auction prices show diesel premium eroding, says BCA