VW emissions scandal could affect RVs, Glass's warns
21 September 2015
Author: Daniel Puddicombe
The ongoing Volkswagen Group emissions scandal could lead to VW and its sister companies - Audi, Seat and Skoda - facing a credibility crisis in the UK, valuations firm Glass's has warned.
According to Rupert Pontin, head of valuations at the firm, fleets choosing the vehicles because of the emissions benefits are going to feel cheated by VW Group's alleged actions, with possible residual value implications.
"These are brands built on decades of credibility and that credibility has been badly damaged," Pontin said.
"Our view has been for a while that Volkswagen sells too many cars for a semi-prestige brand and Audi too many for a prestige one. The volumes are large enough that they are creating downward pressure on RVs," he added.
"The emissions scandal is obviously not going to help this situation. If buyers lose trust in the brands, then there is inevitably less demand and values suffer," Pontin concluded.