Germany’s Backlog of Used Diesels Swells to 300,000 Cars

German car dealer group ZDK says worries about the future of diesels have created an inventory in the country of some 300,000 used vehicles whose resale value is fading.

The association figures the bloated inventories represent some €4.5 billion ($5.3 billion) in rapidly depreciating assets. Used diesels are difficult to sell because consumers aren’t sure whether major municipalities will follow through with plans to ban diesels in city centers.

Bloomberg News cites a poll by Deutsche Automobil Treuhand indicating that 29% of diesel owners in Germany say they intend to sell their vehicles as soon as possible because of slumping resale values. Four in five dealers say they are cutting prices on used diesels.