VW’s Trust Rating Is Down and So Are Its Car Prices By Frank-Ling / Oct 14, 2015 share Facebook Twitter Google + LinkedIn Pinterest Email Share... Since the Feds busted Volkswagen for installing cheating software in millions of diesel powered cars in September (see: VW Scandal: It Used Cheating Software to Pass EPA Tests), the German carmaker has scrambled to do damage control. However, it may be a case of too little too late.Although the executives at VW apologized profusely, promised to make things right by fixing all affected vehicles, which will cost it hundreds of millions of dollars, it is still finding it hard to gain any positive traction after the “Dieselgate” scandal.As the story spread, many wonder if VW can ever recover from all the bad publicity, not to mention the trust of its customers. But if things are going the way they are now, it will take a miracle to instill confidence in the VW brand again.The Polls Tank On VWRecent public surveys conducted by Kelley Blue Book revealed that 53% of the people who took part in the study said that they had a “complete” or “general distrust” of VW, since the DieselGate incident.Worst yet, AutoPacific’s poll said that only 25% of the survey respondents said they had a positive view of Volkswagen. Before the fiasco, VW enjoyed a high 75% favorability rating.Prices Are DownIn order to bring more customers to VW showrooms, it is embarking on a strategy to lure people in by offering promotional discounts that could knock off $4000 to $5000 off the sticker price. According to VW dealerships, the strategy may be working, but it is questionable how long VW can keep this up if it expects to be a profitable business.What the Future HoldsPrior to the car emissions scandal, VW rated briefly as the top car manufacturer in the world, ahead of Toyota for the number one spot for the first time in its history. At the heart of Toyota’s slip in rankings is car safety issues, massive recalls, and the company’s apparent role in trying to cover-up evidence that proved negligence by Toyota.Waiting on the sidelines expectantly are Korean carmakers Kia and Hyundai, which have scored better in quality, surpassing VW and Toyota. If the Korean carmakers keep their records clean, they may be able to gain significant ground on the other troubled car companies.Source: Money