CAP will be revealing all factors and assumptions involved in every residual value prediction it makes following a revamp of the business.
Its CAP Monitor product is being rebranded as CAP Gold Book and CAP Gold Book IQ will offer forecasting down to the individual model derivative level.
Development of CAP Gold Book and CAP Gold Book IQ is part of a major investment strategy following the acquisition of CAP last year by Montagu Private Equity.
Peter Knight will lead development as Gold Book product manager. Dylan Setterfield, senior editor of forecasting, was appointed last year to overhaul the existing forecasting process ready for the transformation of Monitor into Gold Book.
Overseeing this, along with other valuation-related projects in the CAP Editorial division, is Adrian Rushmore as operations director, who joined from rival Glass’s earlier this year.
CAP said a range of launch partners from across the contract hire & leasing, fleet and finance sectors have been collaborating with the CAP team on Gold Book development since late last year.
Gold Book will offer short term forecasts under 12 months, more variables taken into consideration as part of the valuation model and live release of new vehicle forecasts.
Gold Book IQ will also launch this year and will offer access to all forecast evidence and assumption factors, including Black Book trending and model lifecycle data.
There will be editorial commentary to support the forecasting process, macro-economic rationale split by supply/demand factors and access to forecasts without seasonal effects. There will also be the facility to ‘lag’ forecasts to take account of vehicle lead-times or other delays.