New Experian Alliance With Recurrent Empowers Dealers to Make Informed EV Acquisitions and Ease Range Anxiety for Consumers

Rhea-AI Summary

Experian has announced a strategic alliance with Recurrent to enhance its AutoCheck reports with the addition of the Recurrent Battery Report for used electric vehicles (EVs). This new report will provide critical insights into battery health, current range, and the effects of weather conditions, addressing essential concerns for dealers and consumers. The Recurrent Battery Report offers a Range Score that compares a vehicle's current maximum range to its original range, increasing transparency in the used EV market. This partnership aims to alleviate range anxiety for consumers and enhance decision-making for dealers amidst the growing popularity of EVs.

Positive

• Partnership with Recurrent to enhance AutoCheck with unique EV battery data.
• Increased transparency in the used EV purchase process.
• Provides essential battery health insights that were previously unavailable.

Negative

• None.

Addition of the Recurrent Battery Report will augment AutoCheck reports with critical EV information, including current range and impact of weather conditions

DALLAS--(BUSINESS WIRE)-- Expanding on its commitment to equip dealers with the data needed to buy and sell used vehicles with confidence, Experian announced a new alliance with Recurrent, the battery range and analytics company. Through the alliance, the Recurrent Battery Report for used EVs will be offered alongside Experian’s AutoCheck reports, the industrial strength vehicle history report (VHR). The Recurrent Battery Report offers additional data and attributes on an EV’s battery health that no other VHR currently offers, including battery insights, weather impact, and more.

Each Recurrent report includes a Range Score, which compares a vehicle’s current max range to the original range for that make, model, and battery pack configuration. (Photo: Business Wire)

While dealers and consumers alike have historically looked to a vehicle’s mileage as an initial barometer for condition, range and battery longevity are more informative for used EVs, which have not been available with a VHR, until now. The Recurrent Battery Report is designed to bring additional transparency to the used EV purchase process—augmenting the information of the AutoCheck report to answer specific questions about the purchase of a used EV.

“Our new alliance with Recurrent ensures data attributes unique to EVs are easily accessible for all parties whether looking to buy or sell a used EV—which is essential knowledge in today’s evolving market,” said John Gray, Experian’s president of automotive, North America. “As EVs continue to grow in popularity, offering the Recurrent Battery Report with AutoCheck reports will bring a level of assurance dealers have been previously unable to attain when buying or selling used EVs, increasing transparency and easing range anxiety for consumers.”

The Recurrent Battery Report is designed to answer common questions from used EV shoppers. Each report includes a Range Score, which compares a vehicle’s current max range to the original range for that make, model, and battery pack configuration. For example, a Range Score of 94 means that the vehicle is expected to get 94% of its original range.

Generated through a VIN-specific inspection that combines each vehicle’s history and battery data, the Recurrent Battery Report compares the vehicle to thousands of others in the Recurrent database. Recurrent’s proprietary algorithm provides battery performance and range projections across most manufacturers and EV models. Additionally, the report shows projected range in different weather conditions, which often decreases in the cold, and what range an owner should expect after three years of ownership.

“Car dealerships are getting lots of new questions from their customers about range and battery health,” said Scott Case, CEO and co-founder of Recurrent. “How does actual EV range vary from EPA? How does range fluctuate in freezing conditions? And how does that change over time? The Recurrent Battery Report provides these answers as an excellent complement to the existing AutoCheck VHR, providing a complete solution suite for used EV acquisition and sales.”

Experian clients can now add the Recurrent Battery Report to their existing AutoCheck subscriptions. To learn more about the new alliance and see examples of the reports, visit the Experian Booth (#423) at the NADA Show through Sunday.

For those not attending the show, more information can be found at https://www.experian.com/automotive/vehicle-history-services or https://www.recurrentauto.com/.

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.

We have 20,600 people operating across 43 countries and every day we’re investing in new technologies, talented people, and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names mentioned herein are the property of their respective owners.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005310/en/

Carly Owens

Experian Public Relations

1 714 830 5271

carly.owens@experian.com

Source: Experian

FAQ

What is the purpose of Experian's alliance with Recurrent?

The alliance aims to enhance AutoCheck reports with detailed battery health insights for used electric vehicles, addressing consumer concerns about battery longevity and range.

What features does the Recurrent Battery Report provide?

The Recurrent Battery Report includes a Range Score that compares a vehicle's current max range to its original range, as well as insights on battery performance affected by weather conditions.

What impact will the Recurrent Battery Report have on used EV sales?

The report is expected to increase dealer confidence and consumer transparency, potentially easing range anxiety and enhancing the used EV buying experience.

When was the alliance between Experian and Recurrent announced?

The alliance was announced on January 26, 2023.

How can dealers access the Recurrent Battery Report?

Experian clients can add the Recurrent Battery Report to their existing AutoCheck subscriptions.