Will cheaper diesel fuel counter the effect of the VW scandal?
The #dieselgate Volkswagen emissions scandal may be in full swing, but there is some good news for drivers of diesel-engined cars.
Data from used car experts Manheim shows a rise in used diesel car prices of 3.1% (£242.44) in August, compared to the first half of the year. The average value of a second-hand petrol car rose by just 1.1% (£37.97) over the same period – a difference of more than £200.
Manheim attributes the increase to the drop in the price of diesel fuel, which fell below that of petrol in late July.
Michael Buxton, CEO of Manheim UK, commented: “Although there are many variables around prices changes, including volume mix, age and mileage, it appears that the fuel price drop – the first time diesel has been cheaper than petrol since 2001 – may have already had an impact in the used car market.”
It will be interesting to see if this trend is maintained, following the negative publicity for diesel in recent days. There is no evidence that the VW Group scandal affects any other car manufacturers, but the news has not done the public perception of diesel any favours.
Keep visiting motoringresearch.com for the latest news as the #dieselgate story develops.