Motor Industry News
Will Volkswagen used values suffer long-term damage?
“Most used values have taken a slight seasonal dip” - Gavin Amos
My Car Check Trade is the trade valuations arm of CDL Vehicle Information Services. Based on cutting-edge industry data and feedback from independent and franchised dealers, these monthly bulletins highlight the most significant trends in the UK used car market.
Head of Valuation Services at My Car Check Trade, Gavin Amos, commented: “September was another successful new plate introduction month. Many dealers and traders reported a significant spike in enquiry levels, but activity is likely to settle down during October as winter looms.
“Most used values have taken a slight seasonal dip. Those unaffected include ‘cool’ vehicles, such as Discovery Sport and new Q7, which are both enjoying extended honeymoon periods.
“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.”
“Used dealers are looking to stock up. The issue is doing it at the right price. There’s not an abundance of clean late low-mileage examples out there, so when they do appear at auction they’re making seriously strong money.
“Scouring online auction and advertising sites can be a good way to find these gems, although competition is hot. Traders must act quickly to grab a bargain via private sources. Proactivity is key to getting the right stock these days, which comes as something of a shock to old school trade buyers used to being called with vehicles to underwrite!
“Land Rover is very much on a high and practically any late used example will be super desirable. Freelander values are particularly buoyant. Audi also continues to perform strongly, with all except A7 sure to generate interest. A1, A3 Sportback, Q3 and Q5 remain firm favourites, with values to match. Nearly 15 years after it launched, the ‘new’ Mini has a cult following. There’s a used Mini model to suit all budgets now, but finding a well looked-after one is important as fixing any issues can be costly.”