VW diesel auction prices drop

October 21, 2015 at 4:54 p.m. | Updated October 21, 2015 at 5:00 p.m.

by Staff Report

FILE - In this Sept. 23, 2015 file photo, Volkswagen diesel cars are parked in a storage lot near a VW dealership in Salt Lake City. Volkswagen almost inevitably will have to compensate owners of diesel cars equipped with emissions-rigging software. Some legal experts say the automaker could be forced to buy back the cars altogether. (AP Photo/Rick Bowmer, File)
FILE - In this Sept. 23, 2015 file photo, Volkswagen diesel cars are parked in a storage lot near a VW dealership in Salt Lake City. Volkswagen almost inevitably will have to compensate owners of diesel cars equipped with emissions-rigging software. Some legal experts say the automaker could be forced to buy back the cars altogether. (AP Photo/Rick Bowmer, File)

Average auction prices for Volkswagen's beleaguered diesel vehicles have dropped nearly 16 percent in the four weeks since the emissions issue, according to Kelley Blue Book.

Also, the car valuation and information site said that new-car shopping activity for the vehicles have dropped on KBB.com by 2.4 percent.

In addition, the average auction price for the brand's gasoline-powered vehicles declined by 2.9 percent, Kelley said.

Tim Fleming, of Kelley Blue Book, said that some auctions are still holding off on selling the affected Volkswagen inventory.

"While Volkswagen diesel auction prices are in decline, we could see larger fluctuations depending on how this inventory is handled," he said in a statement.

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