These losses are atop the models’ regular year-on-year depreciation. Setterfield said: “The Korando’s falls seem to have been caused by uncertainty and confusion in the marketplace as the brand transitioned from Ssangyong to KGM. Astra diesels with above-average mileage are now suffering increased penalties, while the Evoque’s figure can be explained by an increase in used volumes following a shortage of supply.”
Consumers unsure about buying a diesel are unlikely to be reassured by these wild extremes.
Fortunately, these cars aside, the bulk of the sector is actually quite stable, with the average three-year-old diesel worth just 2.1% less than its equivalent 12 months ago. The equivalent figure for a petrol car is 1.3% less.
At 12 months and 20,000 miles, their positions are reversed, with the diesel worth 1.4% less and the petrol 1.6% less.
Philip Nothard, insight director at Cox Automotive International, a vehicle auction and remarketing company, welcomed the return of stability to most areas of the diesel market.
He said: “After the highs of the immediate post-Covid years, when even two- to four-year-old diesels were worth 73% of their new price and ones less than a year old 98%, order is returning to the market. In 2023, diesel values fell at a steeper rate than petrol as sentiment shifted to the latter and, thanks to tax changes, to some extent also to EVs.
“The fall in the sales of new diesels that year means that today, there are only155,000 three-year-old diesels on the road. Values are sliding but just about holding firm, with two- to four-year-old diesels currently worth around 51% of their new price compared with petrol cars at 58%. Electric cars are worth around 36%.”
The shortage of used diesels and the stability of their values are reflected on dealer forecourts.
Motorpoint is a leading car supermarket and typically stocks around 5000 cars, most no older than four years. Currently, only around 350 of them are diesels and diesel hybrids. They include a 2023 Audi A4 35 TDI S Line S Tronic with 14,500 miles for £22,699 and a 2022 Ford Kuga 1.5 Ecoblue ST-Line X with 17,000 miles for £19,999.