Fleet News

Motability adopts new residual values software

MOTABILITY Finance Ltd (MFL), one of Europe's largest fleets, has become one of the first customers to sign up to Reforecaster, Glass's Information Services' new high-speed residual forecasting system.

MFL which runs a fleet of 385,000 cars helped in the development of the system that generates current and future residual values for the fleets. The system is said to have proved capable of importing, calculating and exporting 227,000 records in just 35 minutes, providing a snap-shot of the current value of any fleet.

Darragh Nugent, economics and pricing manager at MFL, said: 'We operate a huge fleet of over 385,000 vehicles on behalf of the Motability scheme. Every quarter we re-value the existing fleet's residual value against previous forecasts.

'Reforecaster provides us with an efficient method to import the sizeable data of our fleet and calculate Glass's view of the future value of most of our fleet quickly and effectively. It also allows us to modify Glass's econometric forecasts to test different scenarios.'

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