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Cap HPI plans global identifier shake-up

Date: 20 October 2016   |   Author: Debbie Wood

Residual value expert Cap HPI is launching a new global version of its long-standing Cap Code vehicle identifier that will be rolled out to 78 countries around the world.

The new numeric-based global code will run alongside the UK's current code and will allow greater levels of detail and accuracy when describing model, chassis and powertrain variants. The move is also expected to help those fleets that operate on a European or worldwide basis to better identify and track vehicles.

Between now and April 2017, Cap HPI will launch its new data service in Germany, France, Italy and Spain, followed by China and the US before the end of next year.

The firm's industry insight team, which is carrying out the global development, will be led by Adrian Rushmore in his new role as international operations director.

"This is the biggest single event in our history. We've spent the past 36 years building market dominance here in the UK and the idea is to use these learning's elsewhere in the world," he told BusinessCar.

Cap HPI's Leeds office will remain the base for the world, and the firm will employ local experts
in each market.

"Europe has been served by the same suppliers for the past 50 years. We're going to come in and shake things up - we fully understand that we need to go the distance," said Rushmore.

After 12 months in each country Cap is targeting a 1% market share and after three years plans to have grown each market to 5%.

To further help achieve global growth the company has also appointed a new business development director.

Having previously held positions at Volkswagen, Jato and EurotaxGlass's, Martin Verrelli will recruit and lead a global business development team as the company rolls out its new service

"I join Cap HPI at an exciting time in its development," he said. "As part of global data business Solera, the company has ambitious plans and products that will disrupt the market."

Here in the UK, Cap HPI will also be looking into new ways customers can access data with a single portal, plus a new app is set to be launched. The new platform will also enable a wide range of new technology-based solutions to be lauched in the future.

"There is so much development going into creating vehicle evaluations, which will filter back into the UK market," Rushmore concluded.