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Data will unlock the growth of electric vehicles claims cap.

Published 11 January, 19

Data will unlock the growth of electric vehicles claims cap.

Vehicle data experts cap announced to an international audience in Frankfurt that the provision of data on battery condition will be essential for maintaining accurate valuations for electric vehicles.


The company argues that more accurate forecasts and stronger residual values will support the growth in sales of electric vehicles. It called for the sharing of battery performance data to support values in the used market and reflect the true condition of electric cars in the used market.


Experts at cap have developed a globalised approach that enables businesses, for the first time, to take a unified view of global trends, and see efficiencies across all operations that use new and used vehicle data.


The unified methodology creates a future-proofed platform that will unlock the ability to share vehicle data across international boundaries.


Commenting on the trend, Dylan Setterfield, international forecasting manager at cap said: “In the next few years, the industry is about to see an explosion in the range of electric vehicles available in the new and used market alongside rising volumes. The market for used electric vehicles is still very much in development and buyers are still wedded to age and mileage as the core parameters to describe the value of a car.


“The condition of the battery in an electric car has a direct relation to the real-world range, and as more cars come to market, the battery condition will become key to determining the true used value of an individual car.”


The company argues that its global code allows far higher levels of detail and accuracy when describing model, chassis and battery variants. It uses over 1 million data points a day in Germany to inform its valuations.


Setterfield said: “The data will continue to evolve as we work closely with manufacturers and other partners in the industry to integrate information on the condition of the battery at the resale stage. It is almost certain that better performing batteries and the continuation of extended manufacturer warranties on batteries will be the key factors to drive higher values.”


The company has launched new real-time used vehicle valuation data in Germany. The values are based on big data that combines actual sale prices with expert analysis.

“Our new methodology is designed to give industry the accurate and flexible data they need in a fast moving market. We bring decades of expertise to our data analysis. It is based on actual retail market data and observations that set it apart from competitors.”

Martin Verrelli| international business development director at cap

Martin Verrelli

International Business Development Director

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cap has launched new real-time used vehicle valuation data in Germany. The values are based on big data that combines actual sale prices with expert analysis.

“Our new methodology is designed to give industry the accurate and flexible data they need in a fast moving market. We bring decades of expertise to our data analysis. It is based on actual retail market data and observations that set it apart from competitors.”

Written by: Gwen Collingridge

Global Marketing

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