The new service, which will launch later this year, is set to overcome the current primitive communication process for pricing and other incentive details by directing all relevant information into a single secure web-based service.
Research carried out by CAP, shows that new vehicle incentives form a manufacturer’s second largest cost. However, the existing process for communicating them suffers from a number of errors and fails to wring all the potential profit out of the cars it is designed to sell.
The average investment per unit in incentives is around £2,000 and yet, according to CAP, communication of this information to resellers is typically paper-based, time-consuming, error-prone and inefficient. It
It is therefore difficult to analyse performance of incentives and maintain 100 per cent correct pricing information in the marketplace at all times, says CAP.
CAP New Vehicle Incentives product manager, Nigel Pates, said: ‘Deployment of new vehicle incentives is one of the most intractable problems faced daily in our industry.
‘With the market moving ever faster, this problem will only grow and the existing processes we discovered in our research across the industry were already fraught with problems and frustrations for manufacturers and resellers.’
He added: ‘CAP NVI will unlock millions of pounds of additional profit opportunity for manufacturers, drive out costs and eliminate the errors that are inevitable with the existing often paper-based methods of communicating incentive support.
‘For resellers it will generate greater revenues, release people to focus their energies in other areas of their business and create a confidence in the incentive information they receive that has not previously been possible.’