First launched in 1991 as CAP Monitor, the Gold Book upgrades CAP’s provision of future residual values by radically enhancing the agility and sophistication of its forecast provision and aligning all forecasts to a clear view of future movements in the used car market differentiated by age, vehicle sector and fuel type.
The Gold Book iQ builds on this by bringing CAP’s forecasting process down to individual model derivative level, revealing all factors and assumptions involved in every RV prediction.
The launch of the new products was announced earlier this year and follows a major overhaul of CAP’s forecasting process by residual value expert Dylan Setterfield who has driven the development of new systems to underpin the Gold Book product suite in collaboration with a dedicated product manager, Peter Knight.
Among the benefits of Gold Book are:
- More sophisticated and robust forecasting process built around statistical rigour, combined with expert editor opinion
- More variables taken into consideration as part of the valuation model
- Live release of new vehicle forecasts avoiding the delays associated with a monthly product
- Clarity on end-to-end forecast methodology and rationale
- Faster reaction to market changes
Meanwhile, Gold Book iQ brings full transparency to CAP forecasts, including:
- Full access to all forecast evidence and assumption factors, including Black Book trending and model lifecycle data
- Editorial commentary to support each step of the forecasting process
- RV history and tracking reports, with the ability to set pro-active alerts on re-forecasts of your chosen derivatives
- At-a-glance RV comparisons between same model (petrol/diesel) and competitor baskets
- Clear macro-economics rationale, split by supply/demand factors
- Access to forecasts without seasonal affects
- Facility to “lag” forecasts to take account of vehicle lead-times or other delays
Gold Book product manager Peter Knight said: ‘CAP Gold Book will be easier to use and incorporate into customers’ own workflows. Multiple enhancements, from process to efficiency, statistical rigour and transparency will drive more, timely and reliable information to drive greater certainty for customers in their forecasting.
‘And by improving on an already strong heritage of independent benchmarking, we believe CAP Gold Book and CAP Gold Book iQ customers will enjoy greater confidence than ever before.’
