A brand new report by Confused.com reveals Saudi Arabia has the most environmentally friendly cars on the road, with an average age of 3.8 years emitting an average of just 118.5 KM CO2 per vehicle.
With the used car industry in Saudi Arabia expected to grow at a CAGR of 4.5%, their roads have managed to maintain the youngest fleets across the world.
Sitting at 19th place for GDP (Gross Domestic Product), this suggests the country has higher incomes, therefore a high rate of automobile purchases.
Whilst the research found there are only 241 cars per 1000 people, the country does not have a plan to phase out fossil fuel cars. After implementing a fuel efficiency standard for cars in 2016 and reduced transport fuel subsidies, this caused a tripling of gasoline prices between 2014 and 2019.
However, in 2018 its sovereign wealth fund invested 1 billion USD in a US-based electric vehicle (EV) manufacturer and signed an agreement with Nissan Motors, Takaoka Toko, and Tokyo Electric Power Co to install EV charging stations.
Alex Kindred, car insurance expert from Confused.com, explains why motor brand loyalty or holding onto a car for too long could be hurting the planet and our pocket.
“Climate concerns are a top reason to consider reducing the length of time you keep hold of the same car. As emission-free electric vehicles become more popular and affordable and as drivers become more conscious of their carbon footprint, we will see more motorists making the switch from petrol pump to the electric plug.
“As cars age, their emissions grow considerably which could also lead you to higher prices for things like Vehicle Tax, fees for entering Ultra Low Emission Zones (ULEZ) and even charges on your MOT – to ensure your car continues to meet the minimum standards.
“Motorists who stick with the same manufacturer year after year could be worse off as the natural value depreciation could leave them out of pocket.”
The report also reveals further findings including:
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Car brand loyalty could be costing you money
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Which country owns the most cars across the globe
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The countries home to the youngest drivers
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Car CO2 emissions emitted every year
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