Buyers are bidding up prices of used vehicles with fuel-saving diesel engines, industry analysts say.
A diesel engine added about $1,000 to the roughly $50,000 sticker price of a new 2005 Mercedes E320 CDI sedan. Two years later, that option fetches $2,500 more at wholesale auctions than the gasoline-powered engine on the same model, the Black Book used-vehicle price guide reports.
"As American consumers, we're looking to get better fuel economy, but we still want that full-sized vehicle," says Black Book managing editor Ricky Beggs. "The technology is so much better today, and the versatility and the accessibility to get diesel fuel are there."
The Power Information Network estimates that U.S. consumers will buy more than 500,000 vehicles with diesel engines this year. The network predicts that figure will more than double by 2011.
Read Article