Volkswagen diesel vehicle prices drop 13 percent, figures show

Volkswagens are on display on the lot of a VW dealership in Boulder, Colo. Volkswagen is reeling days after it became public that the German company, which is the world's top-selling carmaker, had rigged diesel emissions to pass U.S. tests. Volkswagens are on display on the lot of a VW dealership in Boulder, Colo. Volkswagen is reeling days after it became public that the German company, which is the world's top-selling carmaker, had rigged diesel emissions to pass U.S. tests.

By Mike Pare October 8, 2015 3 min read

Complete Coverage:
Volkswagen’s Diesel Deception

Resale prices have dropped about 13 percent for the used Volkswagen diesel-powered vehicles at the center of an emission-rigging scandal, new figures show.

But, a Chattanooga auto dealer is predicting hefty incentives for buyers of VW diesels once a stop-sale order is lifted on new cars.

“VW has to move those cars,” said Jeremy Holsomback, general manager at Village Volkswagen.

Kelley Blue Book, the used-car pricing guide, said sale prices for the diesel models affected by the emission-rigging scandal fell 13 percent in dealer auctions from Sept. 1 to Oct. 2 to an average of $11,160. Comparable gas-powered VW vehicles dropped just 2 percent, the company said. The scheme was revealed more than two weeks ago.

The resale price for the Chattanooga-made Passat diesel sedans fell 8 percent in the period to $15,253, according to KBB.