4:32 pm, October 30, 2015
BUYERS have not fallen out of love with diesel engines despite the ongoing VW emissions scandal, according to valuations experts CAP.
The data experts said that the used retail market weakened during October as values dropped by 2.2 per cent, in a predicted seasonal slide.
Philip Nothard, pictured, the organisation’s retail and consumer specialist, said: ‘Despite the recent adverse publicity for diesel vehicles, values of diesel models overall dropped by less than petrol ones, in percentage terms.
‘This illustrates that buyers and consumers have not fallen out of love with the diesel engine just yet, still recognising its fuel economy and performance benefits plus low CO2 credentials, particularly on newer models.
‘The emissions scandal is likely to remain a hot topic. With plenty of stock around there is still potential for some values to be affected, at least in the short to medium term. Longer term, there is no reason to reflect any changes in CAPs Gold Book values, although much depends on how the affected manufacturer reacts to the issues.
‘Where particular VW diesels dropped in price, the prices had been dropping prior to the “crisis”, and where they have been affected by more than the market norm, it would appear to be due to high volumes, in particular the 1.6TDi 105ps engine, which takes up 75 per cent of all Golf diesel trade data received by CAP.
‘Whether weakness is in the overall market over the final quarter, or within specific brands, fuel types, engines or trims, it will be fully reflected real-time in Black Book Live over the potentially more volatile upcoming weeks.’
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