Volkswagen Diesel Vehicle Prices Decline Nearly 16 Percent
IRVINE, Calif., Oct. 22, 2015 /Kelley Blue Book www.kbb.com,
the only vehicle valuation and information source trusted and relied
upon by both consumers and the automotive industry, today reports that
average auction prices, along with new-car shopping activity on KBB.com,
for Volkswagen diesel vehicles have declined four weeks after the diesel emissions issue was announced.
The average auction price for
Volkswagen diesel models dropped by nearly 16 percent since the news
broke of the emissions crisis.1 The average auction price for the brand's gasoline-powered vehicles declined by 2.9 percent.1 On KBB.com, Volkswagen new-car shopping activity for affected TDI models has decreased on average by 2.4 percent.
"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."
Volkswagen Site Metrics from Kelley Blue Book's KBB.com*
- The Volkswagen Golf SportWagen and Golf have seen the most significant declines in shopping activity, with decreases of 6.2 percent and 3.7 percent respectively.
- The Audi A3 and Volkswagen Jetta SportWagen are the only TDI models seeing increases in activity, at 1.6 and 3 percent respectively, which is consistent with segment-level traffic on KBB.com.
- Audi A3 shoppers are increasingly cross-shopping competing luxury models following the announcement. The most highly cross-shopped vehicles are the Lexus NX, BMW 2-Series and Mercedes-Benz CLA. **
* Kelley Blue Book's KBB.com Site Traffic, Comparing September Pre- (Weeks of August 31-September 13) and Post- (Weeks of September 14-October 18) Announcement Data. Please note: Data is compiled weekly (Monday-Sunday). ** Kelley Blue Book's KBB.com Cross-Shopping Data for Week of October 12-18, 2015
"During the past four weeks
following the emissions announcement, traffic to KBB.com has generally
decreased after an initial surge in interest for Volkswagen diesel
models, likely because of the stop-sell and negative press," said Arthur Henry,
senior manager of Strategic Insights for Kelley Blue Book.
"Interestingly, with regard to cross-shopping data, consumers are not
looking at fuel-efficient or hybrid vehicles. For example, shoppers
interested in the Jetta TDI are looking to the Honda Civic, Mazda3 and
Ford Fusion as alternatives, according to cross-shopping data from
KBB.com."
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About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®,
is the only vehicle valuation and information source trusted and relied
upon by both consumers and the automotive industry. Each week the
company provides the most market-reflective values in the industry on
its top-rated website KBB.com, including its famous Blue Book® Trade-In
Values and Fair Purchase Price, which reports what others are paying for
new and used cars this week. The company also provides vehicle pricing
and values through various products and services available to car
dealers, auto manufacturers, finance and insurance companies, and
governmental agencies. Kelley Blue Book's KBB.com ranked highest in its
category for brand equity by the 2015 Harris Poll EquiTrend®
study and has been named Online Auto Shopping Brand of the Year for
four consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive
company.
1 Source: Kelley Blue Book Auction Data Sources, Comparing September Pre- (September 1-September 18) and Post- (September 21-October 16) Announcement Data.
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