CAP is launching a new product which will monitor the impact of manufacturer new car sales incentives.
The web-based CAP New Vehicle Incentives is expected to launch towards the end of the year and product manager Nigel Pates, believes it solves one of the most intractable problems faced daily in the automotive industry.
CAP believes the existing process for communicating manufacturer new car sales incentives is strewn with errors and fails to wring all the potential profit out of the cars it is designed to sell.
According to CAP, the average investment per unit in incentives is around £2,000 and the majority of current communication for each incentive is paper-based.
CAP describes the current paper-based system as “time-consuming, error-prone, inefficient and – worst of all – completely opaque”.
Pates said: “The problem is partly due to the innovation and success of manufacturers in providing a greater variety of models and the sheer plethora of features, within every range, which all goes toward providing fantastic choice for motorists but also makes the market more complex than ever before.
“With the market moving ever faster, this problem will only grow and the existing processes we discovered in our research across the industry were already fraught with problems and frustrations for manufacturers and resellers."
CAP New Vehicle Incentives is set for launch to the motor retail and contract hire & leasing sectors toward the end of 2013.