10:39 am, September 30, 2015
TRADE values of Volkswagen used cars have so far only been marginally affected by the news of last week’s emissions scandal, according to figures from Glass’s, publishers of the motor trade bible Guide.
Their findings show that the trade values of all used Volkswagen’s in the Glass’s database today (30th September) are identical to how they were at the beginning of the month.
However, the overall used car market has increased by 2.1% during the month, meaning VW values have effectively fallen by 2.1%.
Looking specifically at Volkswagen’s used diesel cars, there was a 0.2% drop in values over the same period. However, the overall market in the same period has risen by 2.8%, meaning that the VW’s are trailing the market by 3%
Values of Golf diesels likely to be fitted with the Euro 5 engine in question fell by 3.7% over the past month, compared to the rest of it’s direct competition’s fall of 3.2%. This translates as a 0.5% deficit.
Rupert Pontin, head of valuations at Glass’s, said: ‘We are aware that a number of key trade buyers are viewing Volkswagen conservatively for the time being, although it is fair to say that there are also others who are less concerned and are essentially standing by the brand and its products.
‘Our market sources would lead us to believe that there has been a minimal change in asking prices although there are various anecdotal reports of reduced interest lower used sale activity and a reluctance for the trade to take part-exchanges.’
MORE ON VW SCANDAL:
700,000 Seat cars fitted with emissions test ‘cheat’ software
Winterkorn facing probe by German prosecutors
Audi reveals more than 2m of its cars worldwide have ‘cheat’ software
Switzerland bans sale of diesel Volkswagens
Carmaker admits diesel scandal affects VW Group vehicles
Government was warned about emissions testing
Department for Transport launches emissions investigation
CAP predicts no impact on Volkswagen residual values
Skoda, Seat and Audi dealers braced for bad news
UK businesses hit by ripple effect
Biggest UK lawsuit could be on the cards
VW just tip of the iceberg amid claims tests are open to abuse
