VW emissions scandal: uncertainty over used values

Monday, November 28th, 2016 - autos, cars, motoring, news

Source : VW emissions scandal: uncertainty over used values

Opinion is actually divided over the impact of the emissions scandal on VW’s used values


The impact on Volkswagen Group cars’ used values as a result of the emissions scandal is actually divided. Some major used car valuation experts have claimed the trade value of used Volkswagen diesel cars has fallen 3% since details of the scandal surfaced while others have said the item is actually too early to tell.

Glass’s Guide, the motor trade valuation publication, has revealed which in September values on the used market as a whole increased by 2.1%. However, values of used Volkswagens are the same as they were at the start of the month, so, in essence, are 2.1% down.

Diesel versions have suffered slightly more. Overall, the trade values of diesel cars are up 2.8% on last month, although the trade values of used Volkswagen diesels are down 0.2%, so they are 3% behind the rest of the used market.

Glass’s head of valuations, Rupert Pontin, has stated the item’s clear which the values of Volkswagens are lower than expected as well as which they will likely continue to be affected by how the company deals with the problem.

However, CAP Automotive has said the item is actually too early for any real impact to be seen, with CAP’s Black Book editor Derren Martin saying: “the item is actually only a week into the crisis as well as our team of experts has seen no discernible change to values.”

He said which there is actually some weakness within the second-hand value of the 1.6-litre diesel Golf, although said This kind of could be put down to higher volumes of the vehicle within the used market in recent months.

Martin went on to say which This kind of does not mean which there will not be any drop in values: “We are not discounting there may be some short-term impact on prices across the marques within the Volkswagen Group over the coming weeks, due to the amount of negative media coverage.”

CAP pointed to the last major global recall, surrounding Toyota as well as Lexus at the end of 2009 as well as the start of 2010, saying which This kind of had no discernible impact on used values.

Volkswagen has revealed which more than 500,000 of its cars are being recalled within the UK in addition to nearly 400,000 Audis, 77,000 Seats as well as 132,000 Skodas.

Read more on the Volkswagen emissions scandal:

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How the Volkswagen story unfolded

Reports suggest VW was warned of illegal software ‘years ago’

How VW’s ‘defeat device’ works

Top VW bosses to leave

Prosecutors to investigate Martin Winterkorn

PSA Peugeot Citroën leads calls for tougher emissions test procedures

Your key questions answered

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Blog – what genuinely happens in an official economy test

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Blog – VW’s US boss faces the music

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