Alternative fuel vehicles expected to increase market share

A survey by Paragon Car Finance has found that there is an increasing preference for alternative fuel vehicles.

A survey of brokers revealed that 28 per cent of respondents expect diesel sale cars to decline this year, with 81 per cent predicting that the diesel market shrinks over the next five years.

In the survey, participants were asked what impact recent calls for action on diesel vehicles would have on the market in 2017.

Twenty-nine per cent stated they expect a decrease in sales. This compares to just 10 per cent who expect sales to increase.

Nineteen per cent of respondents also stated they expect to see a decline in sales of petrol engine vehicles, compared to 29 per cent who expect sales to grow.

The sale of electric and hybrid vehicles are expected to increase with 77 per cent of respondents expecting sale growth and 81 per cent foreseeing an increase in the market share for hybrid vehicles.

Julian Rance, head of Paragon Car Finance, said: “Urban pollution has been making headlines, putting diesel vehicles firmly in the spotlight and the latest figures from our Headlight Survey reveal that the pace of change in the car market is expected to grow.”