STOCK TITAN

CARFAX BUILT SEARCH TOOL IDENTIFIES TENS OF MILLIONS OF OPEN RECALLS NATIONWIDE

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Carfax and the Alliance for Automotive Innovation have developed the Vehicle Recall Search Service (VRSS), which has completed over 2 billion vehicle checks since its launch in March 2018. The tool has identified 29 million vehicles with open recalls, promoting greater awareness and safety. Notably, Maryland reports a 15% decrease in open recalls since 2019 due to the service. Other states, including New York and California, have also seen double-digit declines. The initiative aims to increase driver safety by providing crucial recall information to consumers.

Positive
  • Over 2 billion vehicle checks completed since the launch of VRSS.
  • 29 million vehicles identified with open recalls, enhancing safety.
  • 15% decrease in open recalls in Maryland since 2019.
  • Double-digit percentage declines in open recalls in New York (10%) and California (12%) due to proactive measures.
Negative
  • None.

Joint Effort by CARFAX and the Alliance for Automotive Innovation Highlights Nearly 40 Million Open Recalls

CENTREVILLE, Va., Sept. 12, 2022 /PRNewswire/ -- More than 2 billion vehicle checks have now been completed using a search tool designed to raise consumer awareness about open recalls. The Vehicle Recall Search Service (VRSS) has identified 29 million vehicles on the road with an open recall since it was launched in March 2018.

The VRSS was developed jointly by CARFAX and the Alliance for Automotive Innovation, a trade association representing manufacturers and value chain partners who produce nearly 98% of all light-duty vehicles sold in the United States. Over the last four and a half years, this tool has been used by business and government entities, such as state departments of motor vehicles (DMVs), auto insurers and finance companies to search for open recalls at no charge.

John Bozzella, President and CEO of the Alliance for Automotive Innovation said: "This is a tool that was built with one mission: to increase driver safety everywhere by sharing critical information about vehicle recalls. Through our partnership with CARFAX, we've now checked more than 2 billion vehicles and identified millions of cars and trucks eligible for a repair. We're encouraging more partners to take advantage of the free VRSS tool and check – something that will ultimately increase safety on the roads."

Maryland was an early adopter of VRSS and started providing recall notices to car owners during their regular registration process. The number of cars on the road in Maryland with an open recall has decreased 15% since 2019, which coincides with efforts by the state to provide recall notifications to owners. Since 2020, the Maryland Department of Transportation (MDOT) Motor Vehicle Administration (MVA) has run more than 5 million vehicle identification numbers (VINs) through VRSS, identifying more than 1.1 million open recalls. 

"Every month, the MDOT MVA notifies tens of thousands of Maryland vehicle owners of safety defects on their vehicles," said MDOT MVA Administrator Chrissy Nizer. "Each open recall that is resolved reduces the risk of a crash, and this partnership provides critical resources to keep Maryland roadways safe."

There are currently nine states registered to use VRSS to provide recall notifications to consumers, either at registration or during inspections. New York and California both notify car owners about open recalls during their annual inspection process, and both states saw double digit percentage declines in the number of vehicles on the road with an open recall in the last year – California saw a 12% drop, and New York a 10% decrease.

The recall search tool bolsters efforts by automakers to improve safety by informing the public about open recalls. Once vehicle owners know about a recall, they can address the issue, getting repairs done at no cost to them. To learn more about the Vehicle Recall Search Service and apply for access, visit www.vehiclerecallsearchservice.org.

About CARFAX

CARFAX, part of S&P Global Mobility, helps millions of people every day confidently shop, buy, service and sell used cars with innovative solutions powered by CARFAX vehicle history information. The expert in vehicle history since 1984, CARFAX provides exclusive services like CARFAX Used Car ListingsCARFAX Car CareCARFAX History-Based Value and the flagship CARFAX® Vehicle History Report™ to consumers and the automotive industry. CARFAX owns the world's largest vehicle history database and is nationally recognized as a top workplace by The Washington Post and Glassdoor.com. Shop, Buy, Service, Sell – Show me the CARFAX™.

S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets.

About the Alliance for Automotive Innovation

Formed in 2020, the Alliance for Automotive Innovation is the singular, authoritative and respected voice of the automotive industry. Focused on creating a safe and transformative path for sustainable industry growth, the Alliance for Automotive Innovation represents the manufacturers producing nearly 98 percent of cars and light trucks sold in the U.S. The organization is involved in regulatory and policy matters impacting the light-duty vehicle market across the country. Members include U.S. operations of international motor vehicle manufacturers, original equipment suppliers, technology, and other automotive-related companies and trade associations. The Alliance for Automotive Innovation is headquartered in Washington, DC, with offices in Detroit, MI and Sacramento, CA. For more information, visit our website http://www.autosinnovate.org.

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/carfax-built-search-tool-identifies-tens-of-millions-of-open-recalls-nationwide-301621759.html

SOURCE CARFAX

FAQ

What is the Vehicle Recall Search Service (VRSS) launched by Carfax?

The VRSS is a tool developed by Carfax and the Alliance for Automotive Innovation that allows users to check for open vehicle recalls, enhancing consumer safety.

How many vehicle checks have been completed using the VRSS?

More than 2 billion vehicle checks have been completed using the Vehicle Recall Search Service since its launch.

How many vehicles have open recalls identified by the VRSS?

The VRSS has identified 29 million vehicles on the road with open recalls.

What impact has the VRSS had in Maryland regarding open recalls?

Since 2019, Maryland has seen a 15% decrease in the number of cars on the road with open recalls.

Which states have implemented the VRSS for recall notifications?

Currently, nine states, including New York and California, use the VRSS to notify consumers about open recalls.
S&P Global

NYSE:SPGI

SPGI Rankings

SPGI Latest News

SPGI Stock Data

148.58B
307.16M
0.17%
90.59%
0.81%
Financial Data & Stock Exchanges
Services-consumer Credit Reporting, Collection Agencies
Link
United States
NEW YORK