Vehicle valuation firm CAP has announced a ‘radical transformation’ of its car residual value (RV) forecasting service, rebranding CAP Monitor as CAP Gold Book.
The company claims the Gold Book will enhance the accuracy and breadth of RV forecasting available through its Monitor product since 1991.
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CAP will also run the Gold Book IQ service to provide RV forecasting at an individual model derivative level with greater details of how the forecast was reached, including Black Book data on trends and model lifecycle.
The Gold Book will apply the latest technology available to the company to integrate more data and deliver information faster, and has been enhanced by the input of commercial and retail finance partners of CAP.
The company said the development was part of, and made possible by, the acquisition of CAP by Montagu Private Equity in 2012.
The investment strategy by Montagu has included the appointment of Peter Knight to lead the Gold Book staff as production manager, Dylan Strettlefield to renovate the forecasting process, and Adrian Rushmore within the CAP Editorial division to supervise the changes.
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By GlobalDataSimilarly, last year used car pricing provider Glass’s launched the G2 car valuation system. Although initial problems with replacing the 80-year-old previous guide led some in the industry to fear Glass’s could lose custom to CAP, the company felt the change gave it increased opportunities to leverage tie-ins with finance companies.
richard.brown@timetric.com
