“I don’t think a lot of contract hire companies have much to differentiate them in the market,” he says.
“A key reason for developing the software was to give us a unique selling point. Everybody can sell a car on a monthly rental, it is really about what additional products you can add on.”
Caution urged over setting residual values
The industry needs to be more cautious when setting residual values, says Graham Thompson.
“2008 and 2009 were difficult years for cars coming off contract because of the market,” he says.
“Everyone, including us, became cautious when setting residual values and I think we are reaping the benefit of that now.
“2012 was our best year for disposals and 2013 looks set to follow the same pattern; my only concern is people are looking at residuals with rose-tinted glasses and perhaps being over ambitious when setting them, sometimes
“We want to sell 1,700 cars this year, we don’t want to sell 17,000, so I will try to influence what I can in order for us to achieve this while adopting a realistic approach when setting residual values.”