Cap HPI has announced that Andrew Mee is retiring at the end of the year after having spent the past seven years with the firm.
Used car values have been dropping after a summer of strong growth, but the change in prices is not the result of the current lockdown.
Zenith has implemented Quotevine’s new Radia terms management system, which promises to provide a more painless transaction process and ‘transform’ the UK leasing market.
Data will be available from January 1, 2021, to ensure fleets can continue to price vehicles accurately and easily, it says.
Used car values dipped by 2.1% in October – the first fall since March – and look set to fall further, according to new data from at Cap HPI.
Andrew Mee, head of forecast UK at Cap HPI, sets out the forecast for used values next year and beyond.
Used car values for both petrol and diesel stayed strong in August, but electric vehicles (EVs) and some hybrids continue to struggle, says CAP HPI.
Pricing experts at Cap HPI have played down the potential of Mitsubishi’s decision to exit the UK having a negative impact on residual values (RVs).
Average used car sale values increased in July at the three-years/60,000-miles – the first increase in the month since 2009 and followed an even stronger June.
Used car values for models less than two years old have dropped in June while prices for older, cheaper cars have risen, according to Cap HPI.
By Andrew Mee, head of forecast UK at Cap HPI
Fleets urged to stagger vehicle returns to help lessen the impact of coronavirus on used car values, while dealers are warned not to cut new car prices.
Hitachi Capital Vehicle Solutions says the industry will have to ‘knuckle down’ if values are to be achieved in a post-pandemic used car market.
BCA Valuations reports that pre-sale valuations averaged 100.2% during the first weeks of the Covid-19 lockdown in virtual used car sales.
But the company urges caution, with volatile price movements expected over the next few weeks.
Cap HPI has introduced a package of specialist services to help fleet and finance companies through the Covid-19 pandemic.
A new service designed to help fleet and finance brokers grow, Broker Complete, has been launched by ODO and Cap HPI.
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