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KBB: VW diesel prices have dropped 16%

There are a lot of post-scandal theories and metrics concerning Volkswagen's performance during the diesel emissions scandal, although none of them has created a clear picture of where things are headed. Kelley Blue Book has a few more to add to the spreadsheet, though, finding that average auction prices for VW diesels and Internet shoppers perusing them have both gone down in the past four weeks on KBB.com. Auction prices on the site are down an average of 16 percent for VW oil burners, which compares to a decline of 2.9 percent for gas-powered VWs. Shoppers are still on the lookout, though, even if the numbers are slightly reduced. Overall, "new-car shopping activity" for the small-capacity VW diesel offerings is down 2.4 percent, a number held partly in check by searches for the Jetta SportWagen being up by 3.7 percent. Shoppers are looking harder at the Audi A3 diesel, too, its activity up 1.6 percent. The Golf, though, is down 3.7 percent and the Golf SportWagen down 6.2 percent. Shoppers leaving the diesel fold aren't necessarily going for high-mileage options, either, KBB saying that the Ford Fusion and Honda Civic are quick alternatives to the Jetta TDI, while the Mercedes CLA and BMW 2 Series are getting new looks from those interested in the Audi A3 diesel. You can read the full release from KBB below. VOLKSWAGEN DIESEL VEHICLE PRICES DECLINE NEARLY 16 PERCENT, ACCORDING TO KELLEY BLUE BOOK DATA New-Car Shopping Activity Also Impacted by Recent Emissions Issue IRVINE, Calif., October 21, 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.

Volkswagen reportedly considering selling Ducati

After shelving numerous motorsport programs and putting less-successful model variants on the firing line, Volkswagen is reportedly considering selling off Ducati, its motorcycle division. Ducati joined the Volkswagen Group under Audi in 2012, and it could be valued as high as 1.5 billion euros. Five years ago, Audi paid roughly $935 million for the motorcycle brand, sources said to Reuters. In 2016, Ducati's sales were worth 593 million euros, or nearly $644 million. There isn't a concrete buyer yet set for the deal, and neither Volkswagen or Audi chose to comment on the matter. Neither did Evercore, the investment banking advisory firm selected to evaluate Volkswagen's options on Ducati ownership. The logic behind jettisoning Ducati is likely to be the same as canceling Audi's LeMans program and VW's WRC racing efforts: Volkswagen is focusing on an electric mobility future, as the shadow of Dieselgate stretches far into the coming years. As Reuters says, the original 2012 Ducati deal may have been a Ferdinand Piech vanity project: "Analysts questioned Audi's purchase of Ducati when it was announced in April 2012, saying the deal had no economic or industrial logic and just reflected former VW Chairman Ferdinand Piech's passion for the Italian company's expertise on design and light engines." Piech is now, however, out at Volkswagen and is also selling a major part of his Porsche stock, making it easier for Volkswagen to ditch the Italian bike brand. Reuters' sources mentioned interested parties as being Chinese or Indian, or interestingly, the consortium led by Prodrive's David Richards which acquired Aston Martin a decade ago. News Source: ReutersImage Credit: AOL/Drew Phillips Audi Volkswagen Motorcycle Ducati volkswagen group

VW CEO Winterkorn issues video apology for diesel scandal

Amid rumors that he might step down from the automaker, Volkswagen CEO Martin Winterkorn has issued a video statement publicly apologizing for the company's diesel emissions scandal. The boss claims that he doesn't have the answers to all of the questions yet but promises a thorough investigation to makes things right. Multiple times in the speech, he asks forgiveness from customers all over the world and asks people not to blame all of the company's 600,000 employees for this lapse. At no point does Winterkorn mention resigning, though. You can watch the whole clip above, but it's in German, so turn on the subtitles. However, Winterkorn's future with VW isn't assured, and works council boss Bernd Osterloh appears ready to make some changes. "I can assure you that we will do everything possible in the supervisory board meetings this week to ensure the matter is cleared up quickly and that personnel consequences are drawn. And that will not just affect the rank and file, I can assure you," he said in a letter to Bild, according to Reuters. Earlier today, the automaker admitted that the same engine management software is in vehicles from other VW group brands, but it claims that the Type EA 189 engine is the only one with a deviation between test results and real-world numbers. That mill is installed in 11 million vehicles across the globe. As a start, VW is earmarking 6.5 billion euros ($7.3 billion at current rates) to service them. The actual costs could go much higher, though.