My Car Check Trade, the trade valuations arm of CDL Vehicle Information Services has suggested that Volkswagen values may not see long term damage as a result of the current emissions scandal.
However car retailer The Trade Centre Wales (TCW) has said it plans to reduce the price of all German cars by up to £2,000 in light of the emissions scandal.
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Gavin Amos, head of valuation services at My Car Check, said: "Volkswagen is suffering from some very negative publicity at the moment. Used values may take a hit and dealers are certainly taking grief, but is any long-term damage being done? Well, a few months back a huge safety-related recall made headlines and this manufacturer’s values haven’t tumbled."
This mirrored CAP’s most recent advice, which also pointed to a lack of long term value damage from past safety scandals.
However Andy Wildy, sales director at The TCW, said The TWC had resorted to reducing the prices of its German stocks because the retailer has already seen a knock on effect in the UK wholesale market on all German cars from the VW emissions scandal.
Andy Coulthurst, chief executive officer at The TCW, said: "Many dealers will hold firm on current prices, resulting in sales volume slowing. As a business we cannot afford to take that risk, whilst the impact of retailing these cars below cost price will hurt in the short-term, it is, in my belief the right action to take and we expect existing German stock to clear quickly as car shoppers take advantage of these prices."
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