AUTOMOTIVE market data and intelligence company AutoGrab is expanding coverage of its asset classes to include motorbikes and power sports, caravans, campervans, and heavy commercial vehicles.

The company is now providing on-demand vehicle valuations, sourcing, and inventory management intelligence across these new asset classes. The type of information provided matches AutoGrab’s current automotive services. 

Banks, non-banks and dealers typically use AutoGrab to help answer questions such as:

• What is this trade-in worth today?
• Is the asking price above or below the market?
• Which vehicles should I buy at auction?
• Which cars are selling fastest?
• Which previous customers may soon be ready to upgrade?

The aim is to improve used-car profitability by making pricing and purchasing decisions based on live market intelligence rather than intuition.

This information for automotive is now available for motorcycles, ATVs, UTVs, caravans, campervans and camper trailers (even horse floats). It also includes heavy commercial vehicles like rigid trucks and prime movers.

AutoGrab told GoAutoNews Premium that it was responding to customer demand from financiers and insurers.

AutoGrab has appointed Ross Perry as chief revenue officer (CRO)

The recently-appointed chief revenue officer Ross Perry said that the expansion was driven by the need for “better data and valuations in these often-neglected markets”. Future plans include farm machinery.

Mr Perry said: “Our strategy is to replicate what we do in automotive across all the other asset classes. So across power sports and motorcycles, caravans and trucks, etc. If you’re a non-bank lender funding caravans, we’ll be able to provide on-demand pricing in our portal or via API. 

“So we’ll be able to help a bank or a non-bank where you need valuations to know the LVR on funding a caravan, or a motorcycle, or a truck, through to insurance or whatever it may be, we can absolutely provide that.

“We have the majority of the insurance market using our accident valuations, and they’ll be able to do the same on a motorcycle or a caravan. If someone has a motorcycle accident and an insurer or an assessor or a repair shop needs to do an evaluation on that motorcycle they will be able to do that through AutoGrab. So everything we do on auto, we have now replicated across these other asset classes.

Mr Perry said: “I have a 23-year financial services career and every time I speak to lenders they absolutely love our data and catalog on auto. 

“We have used exactly the same backend infrastructure for these other asset classes and the feedback that we get is that the current position in the market for these other asset classes is poor and they really wanted someone to come with a first class option which is what we are proud to have rolled out.”

For insurers, AutoGrab automates pre-accident valuations and total-loss settlements using current market data, reducing the time needed to assess claims. The company says it performs tens of thousands of insurance valuations each month in Australia.

Banks and finance companies use AutoGrab to:

• assess vehicle values when approving loans,
• monitor residual values on financed vehicles,
• manage portfolio risk as used-car prices change.

The company says it has invested years in building the necessary infrastructure, leveraging human expertise and AI.