Residual values of Volkswagen (VW) Group brands, such as VW, Audi, Skoda and SEAT have barely moved since the emissions scandal broke last year, research by What Car? has found.
In September 2015, VW admitted using ‘defeat devices’ in its diesel cars in order to alter the results of emissions tests on its diesel vehicles for several years.
At the time there was speculation that this could cause an impact on potential residual values of VW brands and even diesel cars in general.
However What Car?’s depreciation database has found that VW, Audi and Skoda models have actually retained above average values with a slight dip in residual values similar to industry standards.
VW models, for example, retained on average 42.21% of their original value after three years and/or 36,000 miles, down 2.7% compared to just before the scandal broke.
In comparison, the average car across all brands retained an average residual value of 41.69% over the same period, down slightly over 2% since September 2015.
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.”