VW models holding resale values despite emissions scandal
Used cars from Volkswagen Group brands have been largely unaffected by the emissions scandal, according to research by What Car?
A year after the German car-maker admitted it had used special software to cheat emissions tests, the motoring magazine found that cars from VW, Audi, Skoda and Seat are retaining their resale values.
The Volkswagen Golf and Polo are still among the top 10 cars sold so far this year, and Whatcar.com's depreciation database shows that VW, Audi and Skoda models retain above average values after three years and/or 36,000 miles.
VW models retain 42.21% of their original value now, down 2.7% compared with just before the scandal broke. Audi models have depreciated a similar amount, dropping from retaining 47.58% of their original value in July 2015 to 44.72% in June this year, a decrease of 2.9%.
What Car? noted that the automotive industry as a whole has seen a dip in residual values of just over 2% for all manufacturers, so the VW Group brands are reflecting the market standard. Across all car makers, the average residual value for a three-year-old car and/or 36,000 miles is 41.69%.
Steve Huntingford, editor of What Car?, 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."
A survey conducted by Whatcar.com revealed that three in five motorists (59%) are just as likely to buy from VW brands as they were before the scandal.