Cox Automotive Pilots New Cell EV Battery Well being Software at Manheim Websites Nationwide

• Cox Automotive’s modern cell EV Battery Well being software will allow purchaser confidence, drive residual worth retention and help new and used electrical car (EV) adoption.

• What units Cox Automotive’s EV Battery Well being software aside within the trade is that it immediately evaluates every automobile and offers VIN-specific data, which is significant in capturing correct data across the well being of the battery.

• Pilot contains launch of latest, easy-to-use EV Battery Well being cell app and Bluetooth® dongle at 10 Manheim places.

ATLANTA, Jan. 24, 2023 /PRNewswire/ — Belief issues relating to automobile shopping for in each wholesale and retail. To drive confidence and transparency within the new and used electrical car (EV) market and assist optimize EV battery first life, Cox Automotive at this time introduced the subsequent section of its pioneering method to EV Battery Well being scoring and diagnostics. The corporate will set the muse for the trade normal in EV battery inspection and valuation with its VIN-specific battery grading system that’s not like another answer obtainable at this time. The pilot of Cox Automotive’s EV Battery Well being cell app and Bluetooth® dongle will launch at 10 Manheim places throughout the U.S. – Pennsylvania, Southern California, San Francisco, Riverside, Nevada, Dallas, Phoenix, Seattle, Nashville and Portland.

“We take delight in our EV battery diagnostic software and grading system, and the advantages it brings the secondary car market as an unbiased third-party normal for EV battery well being are unmatched within the trade,” stated Lea Malloy, AVP of EV Battery Options, Cox Automotive Mobility. “The battery pack is the only most costly a part of an EV, accounting for 30-40% of the whole price of the car. With the anticipated inflow of used EVs getting into the market, our battery well being rating will assist create confidence and transparency on the level of sale.”

Offering clear and correct car valuations is nothing new for Cox Automotive. Iconic model Kelley Blue Ebook has outfitted house owners and patrons with trusted new automobile pricing and used retail values for almost 100 years, and the Manheim Market Report, fueled by tens of millions of transactions on the earth’s largest wholesale automotive market every year, continues to be the premier indicator of wholesale values. With greater than 28 million used battery electrical and plug-in hybrid autos scheduled to infiltrate the U.S. automobile parc by 2030, Cox Automotive’s management will energy this electrical market.

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VIN-specific EV Battery Well being Rating – Greater than a Quantity
In contrast to the grading techniques of different EV battery diagnostic instruments, which offer a basic battery estimate primarily based on make and mannequin, Cox Automotive’s cell Battery Well being software immediately evaluates every automobile and offers VIN-specific data, which is significant in capturing correct data across the well being of the battery. The straightforward-to-use software measures present battery situation, historic battery information (instances, temperatures and forms of fees) and efficiency, which the corporate’s patented well being algorithm then makes use of to provide a VIN-specific battery rating starting from 1-5. That rating, together with data on the battery’s present estimated vary can be included within the EV Battery Well being Report.

“To fulfill the longer term development of EVs at our Manheim places, we’ve got been investing in an infrastructure to service and help our purchasers’ future EV battery wants,” stated Grace Huang, President of Cox Automotive Stock Options. “Making a trusted battery well being rating helps our efforts to construct an trade normal for battery well being, whereas delivering the kind of car data purchasers require.”

Cox Automotive’s Battery Well being rating addresses three of the highest 5 boundaries to EV adoption amongst non-considerers, together with shoppers’ considerations about low mileage vary (40%), the price of battery replacements (35%) and batteries not holding their cost (30%).¹  Moreover, most EV Considerers (81%) would think about a used EV at 90% (or 10% degradation) capability with a battery well being certificates.

The battery pack is the only most costly a part of an EV, accounting for 30-40% of the whole price of the car. This makes offering a VIN-specific battery well being rating a significant part to offering correct used car valuations. Cox Automotive’s present information pattern of battery well being metrics collected from Manheim, which incorporates greater than 1,200 car assessments, confirmed the next:

• Most, however not all, EV batteries are constructed to final. The common used battery well being rating reported was excessive, with a mean rating of 4.6. Nevertheless, as batteries age, the variety of outliers improve, highlighting the significance of evaluating every particular person car.

• The upper the battery well being rating, the upper the transaction worth. The common car gross sales worth elevated by 1-4% (or 2.4% on common) when incomes a better battery well being rating.

• Mileage is much less related with EVs. There was an inconsistent correlation between a battery well being rating and mileage on the car’s odometer.

Cox Automotive EV Battery Options
Cox Automotive is dedicated to being the world’s greatest battery well being innovator and end-to-end EV battery lifecycle companies supplier, providing environment friendly and sustainable options that allow the extension of battery first lives and end-of-life reuse and pre-treatment recycling.

For extra details about Cox Automotive’s EV Battery Well being software or to take part in a future pilot, go to https://www.coxautoinc.com/mobility/ev-battery/.

About Cox Automotive
Cox Automotive is the world’s largest automotive companies and expertise supplier. Fueled by the biggest breadth of first-party information fed by 2.3 billion on-line interactions a yr, Cox Automotive tailors main options for automobile customers, automakers, sellers, retailers, lenders and fleet house owners. The corporate has 25,000+ workers on 5 continents and a household of trusted manufacturers that features Autotrader®, Dealertrack®, Kelley Blue Ebook®, Manheim®, NextGear Capital™ and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based firm with $21 billion in income. Go to coxautoinc.com or join by way of @CoxAutomotive on Twitter, CoxAutoInc on Fb or Cox-Automotive-Inc on LinkedIn. 

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SOURCE Cox Automotive