The value of petrol cars will likely drop significantly in the next ten years due to a number of factors. Firstly, advances in electric vehicle technology mean that these vehicles are becoming increasingly popular, with many people now turning to alternative energy sources over petrol-powered cars. Additionally, the cost of petrol continues to rise and is expected to continue doing so in the future, making petrol-powered cars less appealing than their electric counterparts.
Furthermore, there is growing public awareness surrounding emissions from petrol cars, which has led to governments investing more money into research and development of electric vehicles. This increased demand for zero-emission electric vehicles means that manufacturers have shifted their focus towards this area leading to fewer new models being produced with petrol engines.
As time progresses and electric vehicle technology improves, petrol cars will become even less desirable as alternatives become available with greater range, power and performance than traditional comparatively low efficiency internal combustion engines can provide. This decrease in desirability will result in a corresponding fall in the resale values of used petrol cars as they become seen as outdated and inefficient compared to newer models.
Additionally, as electric car parts tend to be produced on a much larger scale than those for traditional internal combustion engines; it is likely that replacement parts for older petrol cars may become difficult or expensive to source if demand for them decreases significantly over time. This could also contribute further to a decreasing resale value for older models since potential buyers may not be able or willing to pay more money for replacement parts if needed.
Overall then, it is clear that the value of petrol cars will likely drop significantly over the next ten years due to increasing popularity and advances in electric vehicle technology coupled with rising fuel prices and diminishing demand for older models due to replacement parts becoming difficult or expensive to come by...