Now that we’re more than a month into the Volkswagen diesel emissions reporting scandal, here’s the latest on the used vehicle valuations………
- Analysts think that the value of used Volkswagen diesels cars will continue to be volatile until rules are issued by the federal government on now the cars will need to be fixed during the upcoming recall. There’s much concerns over what effect the vehicle repairs will have on fuel economy and overall vehicle performance.
- Black Book reported that wholesale prices on the Jetta TDI dropped 7.9% as of Oct. 12 and were down 13.8% as of Oct. 19. Passat TDI prices declined 7.9% to 13.5% in that same time period; Golf TDI declined from 5% to 8.7% during that time. The price comparison point began on Sept. 18 when the EPA announced VW’s violations.
- Kelley Blue Book reported average auction prices declined 13% two weeks after the scandal and then down nearly 16% through Oct. 16. Average auction prices for gasoline-powered VW models declined by 2.9% in the same period.
- Edmunds.com is forecasting that new vehicles sales for VW and Audi will grow by 5.1% this month compared with October 2014 – but all of that growth is expected to come from Audi. That compares with total industry new vehicle sales, which are expected to increase about 11.5% in October.
- NADA Used Car Guide reported that auction volumes on the Jetta, Golf, and Beetle TDI models were down 28%, and the Passat TDI sales were down 33%, in the two-week period ending Oct. 3. That was in comparison to the four-week average just prior to the EPA announcement.