Cap HPI is working with car manufacturers to ensure that vehicle price data can be updated in its system promptly, in the event of a no-deal Brexit.
It warned that if the UK leaves without a deal, a significant number of vehicle manufacturers may need to amend their vehicle and options prices to take new trade tariffs into account.
Chris Wright, managing director of Cap HPI (pictured), said: “We have invested to ensure our data is resilient and accurate in the event of a no-deal Brexit. Our teams are in place to process the data supplied promptly. Some manufacturers will be supplying the changes in their own formats, which will be completed within our standard service level agreement.”
If there is a further Brexit delay, Cap HPI will continue to work with manufacturers to ensure the data and systems are prepared.
The company is also investing in machine learning technology to use the vast quantities of data it holds. It is also growing its teams of industry experts to ensure all data is informed by expert analysis.
The number of car retailers who now see Brexit as a threat to their business has doubled in the last six months, as it was revealed that 2.4 million people may have been deterred from buying a new car.