- Cox Automotive’s state-of-the-art mobile EV battery health tools increase buyer confidence, help preserve residual value, and support adoption of new and pre-owned electric vehicles (EVs).
- What makes Cox Automotive’s EV Battery Health tool stand out in the industry is that it directly evaluates each vehicle and provides the VIN-specific information essential to getting accurate information about battery health.
- The pilot includes the launch of the new easy-to-use EV Battery Health mobile app and Bluetooth® dongle at 10 locations in Mannheim.
Atlanta, January 24, 2023 /PRNewswire/ — Trust is key when buying a car, both wholesale and retail. To increase trust and transparency in the new and used electric vehicle (EV) market and optimize the initial life of EV batteries, Cox Automotive today launched a pioneering approach to EV battery health scoring and diagnostics. announced the next phase of The company establishes an industry standard foundation for EV battery inspection and evaluation with a VIN-specific battery grading system that is unlike any other solution currently available. Cox Automotive’s EV Battery Health mobile app and Bluetooth® dongle pilot launches at his 10 Mannheim locations across the US – pennsylvania, Southern California, San Francisco, Riverside, Nevada, Dallas, phoenix, Seattle, nashville When Portland.
“We take pride in our EV battery diagnostic tools and grading system, and the benefits we bring to the secondary vehicle market as an independent, third-party standard for EV battery health are unmatched in the industry.” Lee Malloy, AVP, EV Battery Solutions, Cox Automotive Mobility. “The battery pack is the most expensive component in an EV, accounting for 30-40% of the total cost of the vehicle. , helps create credibility and transparency on the sales floor.”
Providing transparent and accurate vehicle ratings is nothing new for Cox Automotive. For nearly 100 years, the iconic brand Kelley Blue Book has provided owners and buyers with reliable new and pre-owned retail prices. The Mannheim Market Report continues to be the best, with millions of transactions each year on the world’s largest wholesale automotive market. Wholesale price indicator. With more than 28 million end-of-life battery electric and plug-in hybrid vehicles expected to penetrate the U.S. automotive market by 2030, Cox Automotive’s leadership will power the electric market.
VIN Specific EV Battery Health Score – More Than Numbers
Unlike other EV battery diagnostic tool grading systems that provide generic battery estimates based on make and model, Cox Automotive’s mobile battery health tool directly evaluates each vehicle to get accurate health information. Provides essential VIN-specific information to of battery. This easy-to-use tool measures current battery health, historical battery data (time, temperature, type of charge) and performance, and the company’s patented health algorithms range from 1 to 5 for his VIN-specific used to generate battery scores for That score is included in the EV Battery Health Report along with information about the battery’s current estimated range.
“To meet the future growth of our EV Mannheim We have invested in infrastructure to accommodate and support our customers’ future EV battery needs. ” grace fan, President of Cox Automotive Inventory Solutions. “Creating a reliable battery health score supports our efforts to build the industry standard for battery health while providing the kind of vehicle information our clients need.”
Cox Automotive’s Battery Health Score addresses 3 of the top 5 barriers to EV adoption for those not considering EVs. These include consumer concerns about low mileage (40%), the cost of battery replacement (35%), and batteries not charging (30%). %).1 Additionally, most EV prospectors (81%) would consider a pre-owned EV with 90% capacity (or 10% degraded) if they had a health certificate for the battery.
The battery pack is the most expensive component in an EV, accounting for 30-40% of the vehicle’s total cost. This makes providing a VIN-specific Battery Health Score a key factor in providing an accurate pre-owned vehicle valuation. Data samples for battery health metrics that Cox Automotive currently collects. MannheimIncluding over 1,200 vehicle tests, we found:
- Most, if not all, EV batteries are built to last. The reported used batteries had a high average health score, with an average score of 4.6. However, the number of outliers increases as the battery ages, highlighting the importance of evaluating each individual vehicle.
- The higher the battery health score, the higher the trading price. Achieving a higher Battery Health score increased the vehicle’s average selling price by 1-4% (or 2.4% on average).
- Mileage has nothing to do with EV. There was an inconsistent correlation between battery health scores and vehicle odometer mileage.
Cox Automotive EV Battery Solutions
Cox Automotive is committed to becoming the world’s premier battery health innovator and end-to-end EV battery lifecycle service provider, extending battery initial life and enabling post-consumer reuse and pretreatment recycling We provide efficient and sustainable solutions.
To learn more about Cox Automotive’s EV Battery Health tool, or participate in future pilots, visit https://www.coxautoinc.com/mobility/ev-battery/.
About Cox Automotive
Cox Automotive is the world’s largest automotive service and technology provider. Cox Automotive leverages the largest amount of first-party data provided by 2.3 billion online interactions annually to tailor cutting-edge solutions for car shoppers. car manufacturer, Dealers, Retailers, Lessors, Fleet Owners. The company has more than 25,000 employees on five continents and a family of trusted brands. auto trader®, dealer truck®, Kelly Blue Book®, Mannheim®, next gear Capital™ and vCar®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately held company. AtlantaA US-based company with $21 billion in revenue.visit coxautoinc.com or connect via@Cox Automotiveon TwitterCox Auto Inc Facebook orCox Motor Co., Ltd.It’s LinkedIn.
Source Cox Automotive
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