VW SCANDAL: Values ‘marginally affected’

Time 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.’



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