ADESA Launches Electric Vehicle Battery Performance Feature to Empower US Dealers

Rhea-AI Summary

ADESA announces a new condition report feature that showcases EV battery performance with the introduction of the EV Range Score, powered by Recurrent. This metric, available for most used electric vehicles in the U.S. market, provides buyers with enhanced transparency regarding battery health. The Range Score, which rates EVs on a scale of 0 to 100, is crucial for buyers concerned about battery performance. This initiative positions ADESA as a leader in the EV market, facilitating informed purchasing decisions and accelerating EV adoption.

Positive

• Introduction of the EV Range Score enhances transparency for buyers of used electric vehicles.
• Allows for better-informed purchasing decisions, potentially boosting sales.
• Strengthens ADESA's position as a leader in the EV market.

Negative

• None.

New EV Range Score from Recurrent Available within Condition Reports on ADESA.com

CARMEL, Ind.--(BUSINESS WIRE)-- ADESA, one of the leading wholesale auction providers in the U.S., announces the launch of a new condition report feature to showcase battery performance of electric vehicles (EV). Powered by Recurrent—an EV battery and range analytics company—the EV Range Score is available on the majority of used electric vehicles that transact on the U.S. market, providing buyers with more transparency and confidence when purchasing EVs.

“Electric vehicle adoption continues to accelerate, so we’re thrilled to evolve our condition reports to ensure customers have a more complete view of each vehicle,” said John Hammer, president of ADESA U.S. “The addition of Recurrent’s Range Score ensures customers have access to the most relevant vehicle condition data—including a clearer understanding of EV battery health—and can make faster and smarter buying and selling decisions.”

During the inspection process, the vehicle VIN number for an eligible EV is shared through Recurrent’s software to generate a Range Score from zero to 100. That information is displayed clearly on the ADESA.com condition report with a Range Score badge. Once the user clicks the badge, more information is shown including details on the warranty and expected battery performance in a full Recurrent Report.

“The battery represents a lot of the cost of a used EV and most of the concern that we hear from buyers—they want to know how the battery will hold up,” said Scott Case, co-founder and CEO of Recurrent. “ADESA is establishing itself as a leader in the EV market by helping sellers pass that confidence on to buyers at each stage of the used car wholesale process.”

About ADESA U.S.
ADESA U.S. is a leader in the wholesale auto auction industry, serving customers both online and at its 56 locations nationwide. Handling every aspect of the used vehicle lifecycle, ADESA offers solutions that enable its OEM, financial institution, fleet and dealer customers to maximize ROI. ADESA is the second largest used vehicle physical auction business in the U.S. and owned by Carvana (NYSE: CVNA), the industry pioneer for buying and selling used vehicles online. Learn more about ADESA US here.

About Recurrent
Recurrent was founded in 2020 with the goal to provide more transparency and confidence in pre-owned electric cars. Through its comprehensive battery reports for EV owners, buyers and sellers, it aims to accelerate the overall adoption of electric vehicles. Learn more about Recurrent here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907005510/en/

Press Contact

ADESA Communications

Press@carvana.com

Source: ADESA

FAQ

What is the new EV Range Score introduced by ADESA?

The EV Range Score is a metric powered by Recurrent that rates the battery performance of used electric vehicles on a scale of 0 to 100.

How does the EV Range Score help buyers?

It provides buyers with clear insights into the battery health of used EVs, enabling more confident purchasing decisions.

When was the EV Range Score launched?

The EV Range Score was announced recently but the specific launch date is not provided in the press release.

Which company owns ADESA?

ADESA is owned by Carvana, which trades under the stock symbol CVNA.

What is the significance of the EV Range Score for the used car market?

The EV Range Score aims to increase transparency in the used EV market, thereby potentially accelerating electric vehicle adoption.