A panel of speakers at the BVRLA Industry Insight Conference has revealed that data is key to effective fleet remarketing.
Dionne Hanlon, senior editor for commercial vehicles and motorcycles at cap hpi said that fleets can make a “decent profit” when remarketing good condition vehicles with low miles.
Hanlon said that a lack of supply, especially in the light commercial vehicle (LCV) market, has strengthened values and enabled fleets to lose less to depreciation.
Jason Symes, sales director at Dealer Auction, said: “Retail data is important for remarketing. Use it to be strategic about when to wholesale vehicles.
“Find the right [remarketing] partner that gives you the right data.
“Put vehicles into the market at the right time. Agility is key, play to demand”
Symes said that fleets should identify which vehicles are in retail demand, using data to decide when a vehicle should be de-fleeted and sold.
He said that this can help return between 1% and 2% more on each vehicle, which can make a difference when applied to a whole fleet.
When speaking about how cap hpi values vehicles, Hanon said: “We don’t use artificial intelligence (AI) at all.
“We have tech that helps, but that personal touch is key.”
Symes said that the Chinese brands are aiming to keep as many vehicles in the dealer network as possible, in order to protect residual values.
Symes said: “The one that can keep cars in the network will be the winner.”
Speakers acknowledged the challenges in the electric vehicle (EV) market, especially with residual values.
Hanlon said that valuing electric vans has been “quite difficult.”
Symes said: “The right EV sells well and fast. The electric van market is really tough.”
