This weeks breaking news concerning the deceit of Volkswagen, is not something that would appear to have any effect on the party market. Initially, it won’t .
What they have done is potentially destroy the consumers faith in any brand let alone a major international brand such as VW.
This is a brand that has been built on , reliability, quality engineering and yes , quite possibly honesty. Consumers have trusted the VW brand. It may never be the fastest car, the most luxurious, at the cutting edge of design, but it was probably the bench mark for honesty in car manufacturing. That has been blown away.
How does this leave every other brand? How will they rebuild that trust?
It gets worse,it is a German company. Recent research , and less recent research , shows Germany as the most trusted nation in Europe.
The enormity of this news, goes beyond trust. It will hit the pocket of the customers. Firstly, they will believe they have made an error in their purchasing decisions but they will also loose out on resale values. Apart from the consumer there will be a huge number of people who have a connection to the motor industry, will pay a price. Loss of business, loss of jobs, loss of capital, loss of investments, and the list and implications go on.
I don’t want to go into a load of detail on the car market, as it won’t have an immediate impact on what we all do. But I do believe the consequences will filter down. If one of the world’s most trusted manufacturers from one of the world’s most trusted nations cheats on its customers the doubt may creep in a lot further down the chain.
What I do think is relevant is that Halloween is around the corner. There has already been an announcement (24/09/2015) on the BBC web site that spot checks on ‘hundreds’ of retailers will be carried to ensure that children’s costumes meet the EU norms. There is no doubt that all major suppliers and brands will conform. But be wary of the cynical consumer , who questions the validity of the certification. ..
If we can’t trust VOLKSWAGEN,how can we trust KOSTUMEKINGS, even if they are the largest costume supplier in the world…
(Apologies to any supplier that is called Kostumekings. I have checked and I don’t think there is. If there is, they are certainly not the world’s largest supplier!)
I don’t want to scaremonger but I do want our industry to be aware and prepared. VW have the resources to , eventually, restore their credibility. We need to make sure we do everything to maintain consumer confidence.