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Alphabet: leasing rivals don't have 'eye on the ball with residual values'
Date: 01 July 2014 | Author:
Some leasing companies are storing up RV problems by being overoptimistic in the first quarter of 2014 and writing two-year business that will come back to haunt them, according to Alphabet chief executive Richard Schooling.
"I don't know if the impact in the market is because of the change [from Cap Monitor] to [Cap] Gold Book, [but] there is a feeling some players in the market have just followed the book rather than looking at the value of vehicles," said Schooling.
"I would like to think there have to be some things in the post for some companies, especially looking at some of the two-year prices [they] have been doing.
"I don't get the sense that it's a conscious strategy; more as a consequence of not having an eye on the ball with RVs," he continued.
"We take our own view on RVs, and where we were at 120% of Cap Monitor, now we're at 100% of Cap Gold [Book]."
