Demand for used diesel vehicles remains strong post-emissions scandal, says Venson
Towards the end of 2015, 80% of the vehicles Venson sent to market were diesel, proving demand is still strong in the ex-fleet arena.
“We saw a brief impact at auction, when the emissions story broke, with a 1-2% drop in prices for diesel vehicles and models taking a few more days to sell,” added Gary Curran, strategic supply manager, Venson Automotive Solutions. “However, by the following month, diesel was back in demand and this looks set to continue in 2016.
“Typically, our ex-fleet diesel vehicles tend to hold their value because they are more desirable and we see a 1% difference in values, when comparing them with petrol. The diesel models are usually large, family-size vehicles, offering good specifications and additional accessories. In contrast, the petrol models tend to be either super performance or, more often than not, smaller vehicles, which are more suited as a second car or for new drivers.
“The diesel models we have tend to be larger coupes, estates or crossovers, making them ideal family vehicles, offering good value on the second hand market. Because of these key selling points, they get snapped up at auction, on average four days faster than petrol models, proving that the dip after the emissions scandal was just a blip.”
Gary Curran concluded: “Auction houses have large car retail clients who are interested in having a ready stock of family-sized models. There is a steady market for these vehicles because they are desirable brands that hold their value in the used market, delivering greater profitability for the retailer, compared to small petrol models.”