Valuing various vehicles has become harder due to factors such as model diversity, new sales channels and a larger macroeconomic influences, vehicle data provider Glass’s has said.
The company said this was putting pressure on smaller vehicle valuation companies, and could potentially drive some out of the market. Despite this, Glass’s said overall accuracy levels have improved.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Rupert Pontin, head of valuations at Glass’s said: "Being able to access accurate valuations data is essential for anyone involved in buying and selling used vehicles of any kind but the process of producing this information is, we believe, becoming ever more difficult.
"Look back a few years and there was much less model diversity. Also, the number of disposal routes was a fraction of what can be found today and the impact of macroeconomic trends on values tended to be less. The picture was really a lot simpler.
"Now, the situation has changed completely and, while we are able to use much improved technology in order to handle this increased complexity, the core task of valuations is getting ever more complicated."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
