VW Agree to compensate UK drivers hit by emissions scandal

Volkswagen Group AG is working on putting together a compensation package for every driver impacted by the VW emissions scandal.

The newly-appointed boss Matthias Muller mentioned that the software fix would have a minimal impact on your vehicle’s performance.

“We’re offering technical solutions that do not impact the performance of our cars. In terms of a compensation package our customers are always at the focus of our attention, and we are working on an overall package for all affected markets. There will be an attractive package, let’s call it compensation, for the reduction in value of cars,” he said.

Senior forecasting editor at CAP - Dylan Setterfield said Volkswagen values had not been harmed so far.

“To date, Volkswagen prices have only moved in line with the overall market. We had expected some level of short-term impact due to the adverse media coverage, but this has not materialised”.

“We are studying used car sales data, and wider metrics, such as the proportion of cars available for sale, and unsold volumes. None of these show any impact, and dealers tell us consumer interest has remained in line with previous years”.

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“We have said all along that we do not expect there to be any impact on future residual values as a result of the USA Co2 testing scandal. The fundamental attributes of the vehicles on UK roads are unchanged, and there is no performance, environmental, tax or economic implication”.

In response to the reporting of compensation for reduced values, Dylan Setterfield said:

“We do not expect to see any reduction in values, and even if there were to be such a reduction, it would be very difficult to establish how much of any price fall was attributable to the emissions scandal”.

The Verdict

The Volkswagen group seems to have dodge a cannonball in some respects, because the talk of de-valuation of their cars doesn’t appear to carry much weight at the moment. As you can see by comments coming out of CAP, VW values have remained the same throughout the Scandal. Many experts believe that VW prices will remain stable though out the healing process.

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