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Business

Renault sounds death knell for diesels

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Business

Renault sounds death knell for diesels

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COMING UP:Renault sounds death knell for diesels

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00:00:00
>> Diesel cars could be on the way out. One year after VW admitted cheating on emissions tests, at least one manufacturer is having a radical rethink. Renault now expecting diesels to disappear for most of its cars, according to Reuters' sources. The company has decided that the cost of meeting tighter regulations makes it pointless to invest in the engines.
00:00:21
Diesels are pricier but more efficient than regular petrol motors. Better fuel efficiency led them to dominate the car market in Europe where fuel is expensive. But a crackdown on emissions after the VW scandal is changing the equation. Diesels have already disappeared from Renault smallest vehicles where the fuel savings don't compensate for the higher cost.
00:00:43
The Reuters' sources say they will go for most other cars by 2020. Rival manufacturers thought to be heading the same way. VW chief executive Matthias Muller hinted us much in June. Now automotive consultant AlixPartners says diesel sales will fall to just 9% of the European market by 2030.
00:01:01
That's down from over half today. Luckily, for Renault it's a leader in electric vehicles. Once viewed as a dubious investment that could start to look like a shrewd move