VW values hold firm
A year on and Volkswagen Group sales have held up despite the emissions scandal of last year, according to a survey from Whatcar.com.
Dieselgate, which saw VW admitting to using cheat devices to change the results of emissions, broke on 16 September, 2015. More than 11 million cars worldwide were affected.
However, motorists haven’t turned their backs on the brand in huge numbers with VW Golf and Polo still among the top 10 cars sold so far this year. Meanwhile, Whatcar.com’s depreciation database shows VW, Audi and Skoda models retain above average value after three years and/or 36,000 miles.
Meanwhile, another survey conducted by Whatcar.com found that 59% of respondents are just as likely to buy from VW brands as they were before the scandal.
What Car? editor Steve Huntingford, said, ‘I’m sure there are motorists out there who were rubbing their hands in glee at the thought of used VW prices falling off a cliff because of the emissions debacle.
‘That simply hasn’t come to pass, however, and while the VW story continues to rumble on a year after the story first came to light, the Golf and Polo are still among the most popular new cars in the UK and are holding above average value.
‘What this reflects is the fact that, although VW has cheated and undoubtedly still has a job to do to retain the trust of its customers going forwards, it still makes cars that consumers want to buy.’
Overall, VW models retain 42.2% of their original value now, down 2.7% compared with just before the scandal broke. Across all car makers the average residual value for a three-year-old car and/or 36,000 miles is 41.69%.