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What effect will the proposed ban on new fossil fuel powered vehicles in 2040 have on the value of classic vehicles?

As the Government has proposed the banning of all new vehicles powered by fossil fuels by 2040, what do you think the effect will be on the value of classic vehicles? I have a vested interest as I have four classic cars and several classic motorcycles.

Asked on 8 April 2019 by Robert Williams

Answered by Keith Moody
Given our recent track record, I'd be amazed if that ban actually comes in in 2040 - although if it's driven by manufacturers increasing production of EVs globally it could well increase the proportion of zero-emission vehicles on the road (but not before issues of infrastructure, battery range and end-of-battery life are tackled) . Currently, only ten countries have that ban enacted into law. Assuming it all goes according to plan, we'll get an early indicator as Scotland is set to ban the sale of all petrol and diesel cars in 2032. But don't forget it's only a ban on the sale of new cars - petrol and diesel will still be available. How will it affect classic cars? Hard to say. On one hand, it could make people nostalgic for internal-combustion engined transport with an expanding leisure and entertainment industry driving up their values. On the other hand, if the ban is enforced by restrictions on how and when petrol and diesel cars can be used (which would make sense, logically, if the aim is to improve air quality nationally), then values could stagnate or dip. Hopefully, people will always want to drive a Ferrari around a track or enjoy the delights of Austin A30 trundling gently along the coast. Being realistic, the ban will probably be pushed back and phased in. Low emissions zones in cities will continue to grow. And petrol and diesel will be on sale for a while - don't forget only 1% of new cars sold are zero-emission electric vehicles. Plus, with the classic car industry worth an estimated £4bn to the UK economy, there'll be some degree of care taken to protect it.
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