autobiz expands to 12 European countries
autobiz’s flagship product autobizNEXT, which enables remarketers to objectively and accurately define residual values, is now being made available in 12 European markets, including France, Germany, Belgium, Luxembourg, Spain, Portugal, Italy, Norway, Finland, Denmark, Ireland, and the United Kingdom.
The product has only been available to customers in Germany, Belgium and France for the past six years. But now, the data and vehicle valuations specialist enables automotive manufacturers, leasing banking and finance providers to use the product across those markets. Users can utilise autobizNEXT to evaluate and re-evaluate their portfolio residual values at the end of a leasing contract.
The product is continually audited to ensure it meets customer needs. Its calculations are based on objective and transparent market data, enabling it to incorporate rules and assumptions defined with each of its customers to get as close as possible whilst forecasting resale values, depending on their organisation. autobizNEXT’s three-tools-in-one solution offers:
- autobizForecast presents the residual values for each version according to defined age and mileage pairs. This product is a grid of values as a % of the catalogue price; for each version, the grid is based on autobiz's economic assumptions and expertise.
- autobizReforecast makes it possible to re-evaluate the level of provisions for each professional's fleet at risk, thanks to the re-evaluation of future used vehicle values. Incorporating autobiz's personalised methodology for estimating future vehicle values, this product makes it possible to quickly value an entire fleet and highlight any changes compared to previous valuations. The level of risk remains at the customer's discretion.
- autobizBarometer provides precise indicators of the supply, demand, and price of vehicles on the market. Recipients of this product can, therefore, make the best decisions based on quantifiable, observed, and transparent data
“Every two years, we call in an independent audit firm. Chappuis Halder & Cie (a subsidiary of Capgemini Invent), which specialises in the valuation of movable and immovable assets, recently scrutinised our methodology, which proved to be in line with current accounting and regulatory requirements. If they do not use reliable, verifiable, and objective data to review the provisions associated with their residual values, professionals are taking an extremely high risk. We are convinced - more than ever - that data enables us to be more faithful to market reality than instinct or individual expertise", says Emmanuel Labi, Chairman of autobiz.
Image courtesy of autobiz