New solutions around connected vehicle data will enable the remarketing sector to interrogate SMR data, maximising vehicle values in the future.

New solutions around connected vehicle data will give the remarketing sector a way to deep-dive the key health indicators for a car or van throughout its lifecycle, Epyx has predicted

Fleet software specialist Epyx said forthcoming development would provide a way to “deep-dive” the key health indicators for a car or van throughout its lifecycle, generating accurate and verifiable data for buyers without the need for a telematics-style ‘black box.’

Debbie Fox, commercial director, explained there would be huge advantages for the used car and van sector.

“Using the power of the 1link Service Network, we could match data covering when the vehicle was serviced and which maintenance actions were undertaken to enrich information about usage and the manner in which it has been driven, providing a comprehensive view of a vehicle’s condition.

“The benefits of this for the remarketing sector are clear. They will be able to provide information that has an extremely high degree of veracity that can be used to maximise the value of the vehicle by proving its provenance to traders and retail buyers.”

It would also render mileage tampering – or ‘clocking’ – nearly impossible because the mileage of a vehicle would be able to be continuously monitored and any major discrepancies would be obvious.

Fox said that Epyx was already working on a connected vehicle product that could launch later this year and effectively serve as a potential successor to traditional telematics.

Previously, the auto sector had been hit by long-term structural problems with translating the idea into a marketable product, including on pricing and a single point of access, as only some cars and vans have been connected-capable.

“However, we’re now in a position whereby the middle of the decade, the majority of vehicles operated by leasing fleets will be able to produce connected data, efficient aggregators have emerged, and conditions therefore now mean we’ll be able to deliver a commercially compelling solution,” she added.

The new solution will include remarketing-focused features, following proof of concept trials with a number of major vehicle leasing companies.

“Epyx’s expertise lies in presenting this information in formats that have genuine value for operators and certainly, the needs of the remarketing sector have been prominent in our minds when we have been developing the product,” she concluded.