More vehicles are being produced around the world than ever before. In fact, a PwC forecast expects about 107 million vehicles to be made globally in 2020 alone. But with more vehicles generally comes more damage to the environment due to harmful fuels. This may be why a new study found that 55% of UK motorists plan on choosing a more environmentally-friendly vehicle in the near future.
But it’s not just the concern of harming the environment that is influencing this decision — the study found that 42% of respondents are concerned about being taxed more for having a vehicle that runs on diesel fuel. Furthermore, 53% of respondents believe that they should make the switch simply because diesel vehicles are going to become less popular within the next few years.
The study involved 2,000 UK motorists and was commissioned by Vantage Leasing.
A spokesperson for the company made a statement saying, “Whether drivers are making a concerted effort to be greener, or because they want to avoid the rising taxation on diesel vehicles, it looks like a shift to eco-fuels is coming. And while many drivers seem unaware of the changes coming to the Vehicle Excise Duty, it seems to be doing its job in dissuading the purchase of new diesel vehicles.”
When it comes to the Vehicle Excise Duty (VED), three out of five drivers don’t actually know what the upcoming changes will include. But 76% of those who do understand the VED believe that the impending increased tax on diesel vehicles is to punish those who decide to go with diesel choices.
But fortunately for the environment, there were 40% of people deciding to make the switch because they do want a vehicle that is more eco-friendly. With 83% of respondents saying they’re concerned about what the future holds for planet Earth and 63% worried about what kind of effect they’re personally having on the environment with their vehicle, there are plenty of people who are making this decision to make better choices for the environment.
However, despite people wanting to go green when it comes to their vehicles, the study found that when a more eco-friendly vehicle costs more, money becomes more important than the planet. Vehicles, in general, aren’t cheap, and with manufacturers contributing $2.17 trillion to the economy in the U.S. alone, cars are going to keep getting more expensive. And consumers know this — which may be why one in four respondents said they would opt for a cheaper, less eco-friendly ride than an eco-friendly vehicle with a higher price tag.
But with the upcoming diesel vehicle tax increases next year, UK motorists are going to have some tough decisions to make. The study shows that while more people may be willing to go green on the road, cost is still a deciding factor.