Prices of used VW diesels starting to drop in some areas
Not So Much In Europe Or UK
Between mid-September and early October, US auction prices for VW diesels fell 13 percent, or almost $1,700, on average, Automotive News says, citing Kelley Blue Book. Similar gas-powered VW vehicles' prices fell two percent during the same time period. US sales for new VW diesels were down four percent during the two weeks that ended October 3, while total compact-car sales were up four percent, Automotive News says, citing NADA Used Car Guide.
In the UK, prices for VW diesels fell two percent late last month where about 1.2 million vehicles may have been impacted, Reuters says. In Europe, though, VW diesel prices during the three weeks that ended October 9 declined 1.5 percent, which is within the accepted range of typical car-sales volatility, according to a separate Reuters report that cited EurotaxGlass AG.
Volkswagen has set aside $7.3 billion to address its diesel scandal. As many as 11 million VW diesels may have been programmed with software that cheats the emissions-testing system. The German automaker, which replaced its CEO in the wake of the scandal, estimated that vehicle recalls would start in Europe in January. The state of California, however, is telling VW to come up with a solution proposal by November 20.
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