A recently analysis shows that Volkswagen diesel vehicle prices have declined nearly 16 percent in the wake of its diesel scandal.
Kelley Blue Book examined average auction prices and new-car shopping activity on its website to see just how much Volkswagen diesel vehicles’ prices have declined a month after the German automaker announced it cheated on EPA emissions tests. The average auction price of Volkswagen diesel models have dropped nearly 16 percent since the news broke while the average auction price of the company’s gasoline-powered vehicles has declined 2.9 percent. New-car shopping activity on the affected TDI models has seen an average drop of 2.4 percent.
Seeing the most significant declines in shopping activity were the Volkswagen Golf SportWagen and Golf models, dropping 6.2 and 3.7 percent, respectively. The only TDI models that saw an increase in activity were the Audi A3 and Volkswagen Jetta SportWagen, jumping 1.6 and 3 percent, respectively. It’s worth noting that Audi A3 shoppers are increasingly cross-shopping competing models such as the Lexus NX, BMW 2 Series and Mercedes-Benz CLA-Class.
“According to Kelley Blue Book Field Analysts, some auctions are still holding off on selling the affected Volkswagen inventory,” said Tim Fleming, analyst for Kelley Blue Book. “While Volkswagen diesel auction prices are in decline, we could see larger fluctuations depending on how this inventory is handled.”
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