My thoughts on all things motoring, press releases, reviews & techie stuff, from around the world.
Please note that the pictures of vehicles within this blog are used as examples of the specific press releases, on occasions, due to the lack of available official pictures, examples are re-produced.
ANY AND ALL PROFANITIES WILL BE REMOVED AND THE PERSON/S RESPONSIBLE WILL BE BANNED, NO EXCEPTIONS.
I will try my best to provide detailed info on various cars and what is like to live with them, I have already produced a few for Jaguar-car-forums, I will do my best to be unbiased, but it will be hard for some cars. I will re-produce press releases and copy from other motoring news.
Monday, 12 September 2016
Keen on getting a cheap VW Group car after the diesel scandal, well, hard luck, residuals have remained roughly the same.
Bargain hunters disappointed as Volkswagen Group sales remain firm
VW Group cars retain above average value despite scandal last year
VW Golf and Polo models among top 10 sellers in 2016
Three in five motorists as likely to buy from VW brands as they were before scandal
Motorists hoping to bag a bargain following the Volkswagen Group emissions scandal will be disappointed, because residual values of models from VW, Audi, Skoda and Seat have barely moved, according to research by Whatcar.com.
One year ago, on 16 September 2015, the VW dieselgate scandal broke, which led to the firm admitting to using a defeat device to alter the results of emissions tests for several years.
Canny drivers might have hoped that sales of VW Group cars would drop and second-hand models would plummet in price but neither appears to have happened, with the Volkswagen Golf and Polo still among the top 10 cars sold so far this year.
Meanwhile, Whatcar.com’s depreciation database, which helps motorists calculate how much money their car will lose based on age and mileage, shows VW, Audi and Skoda models retain above average value after three years and/or 36,000 miles.
The lack of depreciation is borne out by the UK public’s view of the mainstream VW Group brands (VW, Audi, Skoda and Seat). A survey* conducted by Whatcar.com shows that three in five motorists (59%) 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 42.21%** of their original value now, down 2.7% compared with just before the scandal broke. Audi models have depreciated a similar amount in the same timescale, dropping from retaining 47.58% of their original value in July 2015 to 44.72% in June this year, a fall of 2.9%.
Seat and Skoda models have also depreciated post-scandal, but only by negligible amounts, with drops of 0.46% and 0.43% respectively.
However, across the automotive industry as a whole, there has been a dip in residual values of slightly more than 2% for all manufacturers, meaning that the VW Group brands are reflecting the market standard.
Overall, across all car makers, the average residual value for a three-year-old car and/or 36,000 miles is 41.69%
*The survey used responses from the Haymarket Motoring Panel which consists of 4000 respondents drawn from readers of What Car?, Autocar and Pistonheads