Valuations specialist Glass's is set to launch a new service in late summer based on significant changes in the way it values used cars.

Branded G2, it will apply valuations driven by market observation data to provide greater accuracy and insight to Glass's customers.

Vik Barodia, director of product management and marketing, said: "The car market has changed beyond recognition in the last 10 years and this is precisely why we are launching G2."

The new data system and statistical analysis will give customers the tools to make more profit, he said, with more accurate and relevant values empowering them to make better informed business decisions.

The valuations will move from the current two - trade and retail - to a total of six, comprising four trade and two retail categories, with condition grades linked directly to the auction houses own.

Values will be based on more than 4m retail and 1.3m trade observations each year, with statistically driven mileage adjustments based on real market observarions.