As someone who lives in a country that actually has this system. No. It's a shitty system. It results in old shitty cars that pollute like insanity. Some cars are more economical and safer than some badly built cars with less safety features and those safer cars are actually punished with this system.

You are literally better off buying an old banger that is falling apart and a road hazard than a new car because of our stupid tax system. And the people who drive SUVs here are usually rich and don't care about higher road tax.