9:42 am, February 3, 2025
Used car valuations guru Derren Martin says he is feeling ‘massively re-energised’ following his shock departure from Cap HPI.
Martin announced last year that he would be standing down from his role at the valuations firm, following the tragic death of his older brother, Neil, back in May.
In an emotional LinkedIn post he also confirmed that he would be setting up his own automotive consultancy firm, which is now thriving already.
A hugely respected figure in the industry, Martin joined us on the latest episode of the Car Dealer Podcast to discuss the recent changes in his career, and what the future now holds.
Speaking with regular hosts Jon Reay and James Baggott, he explained: ‘I was director of valuations at Cap HPI since 2021 and prior to that, I was heading up all the valuation side of it on the cars and I took over the vans, HGVs and bikes for the last three or four years.
‘I took a bit of leap of faith after some changes in my home life with bereavement and just thought “life’s too short” and “I’m going to jack that in and set myself up as a consultant on my own and see if I can make that work”.
‘It is quite a big change, quite a big step but I think when things happen in your life, and you want to make a change, then do it.
‘I just couldn’t really handle carrying on the way I was and doing the same job and logging on to the same screen and doing the same old stuff. I felt like a bit of a change.
‘I didn’t feel like applying for jobs. I’ve still got a bit of loyalty to my old company and just thought “I’ll go and see if I can get some work using my experience and knowledge and putting things into context”.
People say it’s brave – I think you might also say it’s stupid – but we shall see! So far, it’s going well.
I’ve had a lot of interest – I’ve got four clients lined up so far. yeah, It’s exciting times, I’m obviously steeped in the valuation world and residual values.
‘Prior to working at Cap, I worked at Vauxhall for 17 years. So I know about the new car industry as well as the used car industry and also commercial vehicles and all that sort of stuff.’
Since departing Cap HPI, Martin has set up his own consultancy firm called Black and Gold Consulting.
The outfit already has four clients and is offering businesses across the industry expertise on ‘cradle to crave automotive’.
The philosophy sees Martin advising on how best to keep residual values high throughout a cars life, from when it leaves the production line, to when it finally leaves the roads.
He added: ‘I call it cradle to grave automotive. My business is called Black and Gold Consulting, which is obviously a bit of a throwback to my past.
‘Cradle to grave, for a manufacturer, is really about how they should spec their cars. So at the start of it, what cars they should be selling and who they should be selling those cars to, to maintain their residual values.
‘Don’t go and sell 3,000 grey vehicles to one rental company, for example, but spread it all around, and that’s certainly not to say that rentals are a bad thing, because I think if you spread your risk out, then you’ll maintain your residual values.
‘Obviously, residual values are so important. So it’s that kind of thing at the start of a vehicle’s life. Then, in life, helping retailers with where to buy from, where to sell, auctions, that type of thing.
‘Then the re-marketing side at the back end, again, who to sell to, where to sell, which companies to use, all of that type of thing. Also presenting at various events, if anybody wants me to present on the market.’
Who is signed up already?
Speaking on the podcast, Martin remained tight-lipped about the identities of his current clients, but he did reveal that one is a Chinese manufacturer, which is coming to the UK.
He is also working with a retail data company, an aftersales outfit and a Scottish rental and leasing firm.
It is varied work for Martin, who previously spent almost a decade at Cap HPI, and he says the change is something he is enjoying.
He said: ‘Of the four clients that I’ve got, they’re quite varied. One’s a Chinese manufacturer, which I think I can help with, because they know how important residual values are.
‘They’re coming into the UK, and they want to do volume and I’ve obviously worked at a volume manufacturer so I understand that side of it. I also understand how important cap are to them, and also other info providers.
‘Another one is a retail data company, so we’re helping them. Another one, which is a little bit off the wall, is an aftersales company – so service provider, warranties, that type of thing.
‘It’s been quite varied so far, but I’ve had reach out from EV suppliers. The fourth one I’ve got is a rental and leasing company, up in Scotland.
‘I am interested in looking at any companies really that are maybe a little bit different and just putting a different perspective on things. If you always do what you’ve always done, you’ll always get what you always got, won’t you?
‘It’s just a different view on life really, but it’s been exciting so far. It’s massively re-energised me and what I want to do, rather than just sit and doing the same thing, which I did enjoy, but it was just time for a bit of a change.
‘There’s plenty going on and hopefully that will continue.’
The Car Dealer Podcast, sponsored by Carwow, sees an industry guest join our hosts to discuss the motor trade’s biggest headlines of every week.
A full list of the stories discussed on this week’s episode can be found here.
You can listen to all episodes of the Car Dealer Podcast on Spotify, or wherever you get your podcasts.
