Bank Australia has said it will refuse to lend customers money to buy a petrol or diesel vehicle from 2025 in a bid to help the phase out of fossil fuels.

The policy concerns the CEO of the Victorian Automotive Chamber of Commerce, who says it will be low-socio economic Australians most impacted.

“For some people, it sounds like Carmageddon,” Geoff Gwilym told Tom Elliott.

Press PLAY below to hear why he’s concerned

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