NEW BEST-OF-BREED forecasting tools, Gold Book and Gold Book iQ, have been launched by CAP Automotive – the leading independent residual values forecaster.
It represents the biggest transformation in quality and transparency for CAP’s car residual value forecasting service since the launch of CAP Monitor in 1991.
Gold Book upgrades CAP’s provision of future residual values by radically enhancing the agility and sophistication of its forecast provision and aligning all forecasts to a clear view of future movements in the used car market differentiated by age, vehicle sector and fuel type.
And the ground-breaking Gold Book iQ opens the window onto CAP’s forecasting process down to individual model derivative level, revealing all factors and assumptions involved in every RV prediction.
The appetite for more accurate and transparent forecasts from an independent source is demonstrated by the fact that several customers had already invested in Gold Book and Gold Book iQ well ahead of this week’s official product launch.
Both developments will enhance customer confidence in CAP’s status as the leading independent benchmark residual value forecaster for manufacturers, captive finance providers, finance houses, contract hire & leasing operators, daily rental and other industry sectors exposed to future residual value risk.
Top flight future residual value expert Dylan Setterfield has overhauled CAP’s forecasting process and driven the development of new systems to underpin the Gold Book product suite in collaboration with a dedicated product manager, Peter Knight.
Among the benefits of Gold Book are:
• More sophisticated and robust forecasting process built around statistical rigour, combined with expert editor opinion
• More variables taken into consideration as part of the valuation model
• Live release of new vehicle forecasts avoiding the delays associated with a monthly product
• Clarity on end-to-end forecast methodology and rationale
• Faster reaction to market changes
Meanwhile, Gold Book iQ brings full transparency to CAP forecasts, including:
• Full access to all forecast evidence and assumption factors, including Black Book trending and model lifecycle data
• Editorial commentary to support each step of the forecasting process
• RV history and tracking reports, with the ability to set pro-active alerts on re-forecasts of your chosen derivatives
• At-a-glance RV comparisons between same model (petrol/diesel) and competitor baskets
• Clear macro-economics rationale, split by supply/demand factors
• Access to forecasts without seasonal affects
• Facility to ‘lag’ forecasts to take account of vehicle lead-times or other delays
Gold Book product manager, Peter Knight, said: “Customers have been key to our transformation of Monitor into Gold Book and the creation of Gold Book iQ so these new platforms are intuitive, user-friendly and absolutely fit for today’s market.
“The introduction of radically overhauled background processes in combination with full transparency will bring more confidence for our customers than ever before.
“The editorial expertise underpinning all of this is unrivalled and the changes to our forecasting methodology utilise the unique wealth of quality data at our disposal more than ever before.
“CAP Gold Book will be easier to use and incorporate into customers’ own workflows. Multiple enhancements, from process to efficiency, statistical rigour and transparency will drive more, timely and reliable information to drive greater certainty for customers in their forecasting.
“And by improving on an already strong heritage of independent benchmarking, we believe CAP Gold Book and CAP Gold Book iQ customers will enjoy greater confidence than ever before.”