Brexit preparations have been completed by cap hpi to ensure its data and systems will be ready for the impact of the UK leaving the EU with or without a deal.
If the UK leaves without a deal a significant number of vehicle manufacturers may need to amend their vehicle and options prices to take these tariffs into account.
Manufacturers are working with cap hpi on the scenarios relating to the potential charges and where the manufacturers have used the cap hpi template the new pricing change data will be uploaded ‘en masse’. This new data will start to become visible in the event of a no deal Brexit.
Commenting on the update Chris Wright, managing director of cap hpi 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.”
The changes will be made on a model range by range basis, showing fill rates from each manufacturer as we complete the loading process. If there is a further Brexit delay cap hpi will continue to work with manufacturers to ensure the data and systems are prepared.
The data company has continued to invest in its people, data and technology as it expands in the UK and globally.
Wright said: “The automotive industry is undergoing an unprecedented period of change driven by new technology, legislation and political changes. Our data helps to shape new and used car ownership and ensure motorists, and businesses, are kept safe.”
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.
To support the next generation of talent cap hpi has expanded its apprenticeship scheme and will recruit 10 graduates in 2019. It hired 100% of its apprentice cohort in 2018.
The company has grown to 360 staff with operations in Germany, France, Holland, Slovakia and the UAE. It recently launched a tool to help motorists calculate the total cost of ownership before they purchase a used car.