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EurotaxGlass’s, Kevin Gaskell: Residual values from launch
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EurotaxGlass’s has recently launched a product in France which is set to be of great interest to fleet owners, and which will roll out to the rest of Europe in the future. Group President Kevin Gaskell explained the company’s thinking, and how he sees the market.
Based near Zurich, EurotaxGlass's employs 660 and operates in 30 countries, specialising in data and business information for the automotive industry.
Can you explain what this new product is and how it works?
Kevin Gaskell: Sooner or later, all new cars end up on the second hand car market. Different models will be worth different amounts, and these amounts can vary very widely -from segment to segment, within a segment and even within a single model. And this residual value is crucial to fleet owners. It is here that Eurotax Forecast comes in. It predicts future residual values from the moment the car is launched.
What types of vehicles are involved in your predictions?
K.Gaskell: We include all vehicles: from 4 x 4's to the smallest runabouts, and including cabriolets, monospace vehicles and even models which have recently been face-lifted. The software programme, which is available on or off-line, then enables clients to take a more thorough look at the predicted state of their residual values when the time comes to dispose of the cars.
What sort of information is given?
K.Gaskell: We don't just limit Eurotax Forecast to the bare figures. We give a short description of the car, including elements such as why it is being launched, what the manufacturer's reasoning is, etc. Then we get down to actual figures. We predict, as a percentage of the price when new, what the residual value will be according to four scenarios: 3 years old with 90,000 or 120,000 km, and 4 years old with 100,000 or 120,000 km.
What sort of demand are you seeing?
K.Gaskell: Demand has been strong. Companies with vehicle fleets spread across many countries, along with contract hire and leasing companies, are looking for accurate data on the financial risk they are exposed to with their fleets. Pressure to contain costs in areas where they can be contained, is coming both from company boards and from the banks and other lending institutions.
EurotaxGlass's
For the third year in a row, EurotaxGlass's saw significant growth in 2007, with a double digit increase in business. Its WebServices tool enables client to integrate used car valuations into their own front and back office systems, and the development of this tool in 2007 is seen by the company as having made an important contribution to growth.
Who is Kevin Gaskell?
Kevin Gaskell is British and holds an engineering degree and an MBA. He started his career as a civil engineer, before moving to the chemical industry. In 1987 he joined Porsche Cars Great Britain Limited where in 1992 he was appointed as Managing Director. In November 1996 he joined BMW (GB) Limited as Managing Director with responsibility for all UK operations, before taking on the role of CEO Europe for CarsDirect. Following this he formed epyx limited, a technology business providing e-commerce solutions to the automotive sector. In April 2001 he was appointed as Chief Executive for the EurotaxGlass's Group SA.
| 01/01/2007 |
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