Sofico, global provider of automotive finance, leasing and mobility management systems, has added WLTP (Worldwide harmonized Light vehicle Test Procedure) look-up functionality to its Miles solution in collaboration with JATO Dynamics, the world’s largest provider of automotive data.
JATO’s highly regarded WLTP hub, which it launched as a new development in Frankfurt in May 2017, will now be available through Miles as plug-and-play functionality. This will allow Miles users to download the new CO2 values of the latest vehicles under the new emissions testing regime.
The new WLTP test has been a source of major consternation for fleet operators as it completely changes the measurement and calculation of fuel efficiency and CO2 emissions across the European automotive industry.
The outcome almost universally increases the CO2 rating for each vehicle tested. As the majority of European company car taxation systems are emissions linked, this increases company car drivers’ tax bills.
One consequence has been a marked slowdown in European new car sales, with the first quarter of this year seeing a 3.3% decline across the board in new car orders, as companies and drivers defer purchasing decisions until the new values are more transparent and better understood.
The JATO WLTP hub provides the CO2 values under WLTP for all models from 22 of the 30 major European automotive brands, including all optional items of specification which can affect the CO2 values. The outcome is millions of different values which, thanks to the JATO hub are now available from one source.
Olivier Peijs, Country Manager for JATO Netherlands, who has global account manager responsibility for major international leasing companies and has worked closely on the development of the interface between Miles and the JATO WLTP hub, said: “WLTP is the most significant change to hit the European automotive industry in the last 30 years and is completely changing the way data is used and how we make offers to our customers.
“We have worked very closely with Sofico, who have been at the forefront of discussions around WLTP and how to best provide their customers with the CO2 values under the new testing regime.
“Thanks to this new interface between Miles and our WLTP hub, Sofico is leading the market with its capability to offer a plug-and-play functionality for WLTP to its automotive leasing and finance customers. As a result, they can offer their customers comfort on the outcomes of the new testing regime and a light at the end of the tunnel,” he said.
Peijs added: “As we rapidly move towards a position where WLTP figures will be the base for all leasing calculations, we urge all manufactures to release their WLTP values and calculators to us. The world’s largest and smallest leasing companies rely on JATO to deliver the correct configuration data and calculated values. This will enable our mutual customers to prepare properly, meaning that WLTP does not have to have a disruptive effect.”
Gémar Hompes, Sofico Managing Director, said: “We have worked very closely with the JATO team to develop a new interface between Miles and their WLTP hub. As a result, our customers can already prepare for the impact of the new testing regime during the transition period, which for many countries extends until 2020.
“We are always looking to develop Miles further to ensure that it evolves with the latest market developments and fully supports our customers’ changing business needs. It is very important to us that we are able to offer this WLTP functionality now, keeping our customers ahead of the curve during the transition period for WLTP,” he said.