Consumers are paying more money for the diesel option of a used vehicle than what that option originally cost new, according to a recent AutoWeek article. For example, the cost of the diesel option for the 2005 Mercedes E320 CDI sedan was $1,000, but the cost of this option rose to $2,500, according to Black Book used-vehicle price guide reports. The article notes that the reason for this lies in the fact that consumers want fullsize car and trucks with better fuel economy. In fact, consumers will buy over half a million diesel vehicles this year, and that number will double by 2011, according to the article. A stronger resale value for diesels signal consumers’ acceptance for diesels, which is giving rise to the OEMS bringing out more diesel cars and light trucks to the U.S. market in 2010. According to the Black Book data nearly every diesel-engine option is selling for more used than it did new, and the percentages below show the degree to this is occurring today:
As OEMs bring more diesels to the U.S. market, this diesel-engine appreciation could ease. However, today consumers are paying a premium for a vehicle with the diesel option. With this in mind, they may be willing to spend additional money on performance parts and accessories for these vehicle, which is an opportunity for the specialty-equipment industry to seize.
Source: Sawyers, Arlena. (July 23, 2007). “Dollars for Old Diesels? Used Diesels Command Higher Resale Prices.” AutoWeek. Retrieved July 27, 2007, from www.autoweek.com; SEMA Research & Information Center.