Here are some key points to consider:
Battery Condition Matters
The condition of an EV’s traction battery significantly impacts its value and desirability. Potential buyers demand certification of the battery’s condition to make informed decisions.
Did you know that more than 70% of potential used EV buyers consider a battery certificate crucial for their purchase decision?
Depreciation Challenges
Used EVs tend to depreciate faster than their internal combustion engine (ICE) counterparts. For instance, an ID.4 EV loses more value compared to an equivalently priced ICE vehicle.
The Aviloo Flash Test
Aviloo offers the Flash Test, a comprehensive battery diagnostic solution for professional users. It assesses traction batteries quickly (in just three minutes) without requiring a test drive. The independent Aviloo Score provides valuable insights into battery health.
Some of the key features include:
- Speed: Completed in just three minutes.
- No Ride Required: Analyzes battery functionality without moving the vehicle.
- Independent Aviloo Score: Derived from diverse test data, combining current measurements with historical information, according to Car Dealer Magazine.
Impact on Resale Value
Independent diagnostic systems can positively impact the resale value of EVs. A well-functioning second-hand EV market can boost sales of new vehicles, according to Automotive Logistics.
VIN-Specific Health Assessment
VIN-specific “State of Health” assessments enable efficient exchanges between buyers and sellers by providing accurate valuations for EVs.
Developed by Cox Automotive’s EV Battery Solutions team, this solution uses Manheim’s LotVision technology to assess the battery health of each unique vehicle and automatically transmit detailed information, according to Cox Autoinc.
According to Battery Tech Online, by providing accurate valuations based on battery health, this approach enhances transparency, reliability, and trust within the used-EV industry.
Overall, addressing battery health concerns through diagnostics and certification can enhance the remarketing process for used EVs, benefiting both buyers and sellers. A well-functioning second-hand EV market boosts sales of new EVs and transparency about battery health enhances consumer confidence and residual values, it’s a win-win!
