Used car valuations becoming more difficult
According to valuation specialist Glass’s, valuing cars and vans is becoming more and more difficult thanks to factors such as a greater diversity of models, increased number of sales channels and larger macroeconomic influence. However, despite this increasing complexity, overall levels of accuracy are improving, even if some less robust players are being driven out of the market for valuation data as a result of these pressures.
Rupert Pontin, head of valuations at Glass's, explains: “Being able to access accurate valuations data is essential for anyone involved in buying and selling used vehicles of any kind but the process of producing this information is, we believe, becoming ever more difficult. Look back a few years and there was much less model diversity. Also, the number of disposal routes was a fraction of what can be found today and the impact of macroeconomic trends on values tended to be less. The picture was really a lot simpler. Now, the situation has changed completely and, while we are able to use much improved technology in order to handle this increased complexity, the core task of valuations is getting ever more complicated”.