Recurrent Data Included in Advanced EV Value Forecasts by J.D. Power ALG

Aggregated EV range and battery insights from the Recurrent platform are now factored into value forecasts by J.D. Power ALG, an industry authority on automotive residual value projections in both the United States and Canada. J.D. Power ALG has incorporated the data in the release of their improved residual value model for electric vehicles. 

The latest model release, called Model 8.0, includes range retention and age-related maintenance insights from nearly 1 billion miles of real-world observational data across almost 100 distinct makes and models of EVs. 

“Including Recurrent data in J.D. Power ALG’s EV forecasts is an ideal use case that underscores how our range and battery data is increasingly being used as a kind of centralized currency in the used EV market, just like odometer is for used ICE vehicles,” said Scott Case, CEO of Recurrent.

EV residual values have historically been challenging to predict due to:

• Battery uncertainty which added a perception of risk to preowned or older EVs;
• Rapid tech advancement that threatened to render relatively new models obsolete; and
• An unclear secondary market that made resale potential uncertain.

However, this is changing. As the second hand market grows in strength and volume, and the industry becomes confident in battery longevity, improved residual value forecasting will bolster the EV sector. More accurate and EV-specific residual values will lead to better lease terms, more informed trade-in expectations, and stable certified pre-owned (CPO) programs through OEMs.

The inclusion of Recurrent data allows J.D. Power ALG to accurately cover all manufacturers and EV models in the U.S., including Tesla and Rivian, and by modeling off EV attributes of most value to consumers, Model 8.0 has been designed with the future in mind to remain accurate even as EV technology continues to evolve.