Vertu Motors expands cap hpi partnership
The Vertu Motors group has announced a partnership with cap hpi to help manage risk and optimise profits by using the Daily Movement Report to inform its own valuation tools.
The Daily Movement Report provides dealership groups with a comprehensive view of the market. The vehicle data is compiled using extensive real-world trade and retail data from across the industry, which is analysed by an expert team. Users can review the market by sector, manufacturer, vehicle size and fuel type.
David Crane, chief operations officer at Vertu Motors, 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.”
Used car prices have fallen nearly eight per cent since the start of October and cap hpi recently issued a rare warning to the automotive industry to monitor used values as the market continues to undergo a readjustment.
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.”
