CAP reporting no impact on Volkswagen residuals

CAP Automotive has reported that the current issues faced by Volkswagen Group appear to not to have impacted on residual values.

Derren Martin, CAP black book editor said: “It really is too early to be making any substantive calls on the market. It is only a week into the crisis and our team of experts has seen no discernible change to values. 

“Our team of seven Black Book editors are monitoring values in real-time. We have spotted some weakness on Golf diesel 1.6 TDI 105 ps, but this can be attributed to higher volumes in the market over the last few months, and we have reflected this in our values. 

“Any naysayers in the market seem to be jumping the gun. It’s important to remember overall values across the industry are likely to decrease in the last months of the year due to seasonal supply and demands trends.

“We are not discounting there may be some short term impact on prices across the marques in the Volkswagen Group over the coming weeks, due to the amount of negative media coverage. However, we haven’t seen it yet but will continue to monitor the situation through our Black Book Live product, which uses over 1.5m data sources annually. 

“Purely anecdotally, one of our editors attended an auction today and the majority of Volkswagen's sold at expected prices for this time of year. Equally, through our contacts with dealers, they are not reporting any major concerns from buyers.”

The last global recall was the Toyota/Lexus issue, and despite the fact that this had serious safety implications, there was no discernible impact on used values, CAP said.