Due to fast changing used car prices, car dealer group Vertu Motors is working with Cap HPI to help manage risk and optimise profits.
Cap HPI announced today that the franchised dealer group is using its Daily Movement Report to inform its own systems and valuation tools within the group.
With used car prices falling nearly 8% since the beginning of October, Vertu uses the latest data from Cap HPI to mitigate risks when purchasing and making pricing decisions.
The Daily Movement Report gives a comprehensive view of the market as well as supplementary information from Cap’s live product.
The vehicle data uses extensive real-world trade and retail data, which can be viewed by sector, manufacturer, vehicle and fuel type, and is then analysed by Cap’s expert in-house team.
David Crane, chief operations officer at Vertu Motors plc, said: ‘At Vertu Motors, we continue to invest in the latest data and technology to drive efficiency throughout our operations.
‘We have a long-standing relationship with Cap HPI, who work in partnership with us to ensure we have access to the latest market insight.
‘We hope that the new Daily Movement Report will be incredibly powerful in helping us spot adjustments we need to make to our valuations engine, and also helps to prompt the operational teams when we spot risks.’
Michaela Hill, managing consultant at Cap HPI consulting, said: ‘The Daily Movement Report presents a whole market view on used values in an easy-to-use dashboard that makes deriving insight easier than ever before.
‘It provides cap live data down to the derivative level and is the most comprehensive view of the trade market available today.’