In a differing landscape, the technology associated with diesel vehicles is viewed to be consigned to the scrap heap in the sky, as car manufacturers embrace more efficient, eco-friendly forms of powering your car.
Professional services conglomerate KPMG reported on its annual Global Automotive Executive Survey, with data showing a revolution against diesel, which is fast losing its glossy shine for manufacturers and even consumers compared to yesteryear.
As many as 90% of senior figures expect battery electric cars to have the pole position in the marketplace by 2025 – with 93% of them revealing their plans to start investing in the technology needed for the big transition during the next five years.
Furthermore, a telling 62% say diesel is losing its significance with major car brands. This has been the case for some car manufacturers such as Lexus for several years now with the decision to drop diesel cars altogether from their line up and concentrate solely on hybrid technology and petrol only for their high performance models.
Perhaps surprisingly, some 74% of the data shows that more than half of car owners today would ideally not want to own a vehicle. Researchers believe there will be fewer cars and therefore less money to be made from building vehicles in the future as people may look at other options such as, rent or pay for a car service rather than to physically own a car. What this means for the associated industries such as car insurance and the revenue that vehicles provide to the government in the form of vehicle excise duty remains to be seen.