Recurrent Expands Coverage of Used EVs
Recurrent Reports help shoppers make informed decisions when buying a used EV. As customers walk the car lot at one of Recurrent’s dealership partners, they can look at detailed information about each EV, such as that vehicle’s remaining battery warranty, its max expected range today, and how that range will change in the future.
Starting today, we are expanding coverage to include most dealerships and tens of thousands of used cars nationwide. This is an exciting step for us as a product team, but even more critical to our corporate mission of accelerating the adoption of EVs by providing more transparency and confidence in used cars.
How do Recurrent Reports work?
Reports estimate range today and in the future by analyzing vehicle history, VIN-specific insights about the battery, and data from more than 40 million real-world EV trips. Recurrent Reports also include a value called Range Score that compares current expected range to what was normal for that car when new. For example, a Range Score of 97 means that the vehicle should still achieve 97% of its original range.
Introducing Range Verification for retail partners
Recurrent’s dealership partners are empowered to take the Recurrent Report one step further through a patented Range Verification process. Once a vehicle has been physically inspected, a “Range Verified” label will display directly on the Recurrent Report. This is the fastest way for dealerships to assess EVs on trade in and then use that information to sell EVs with confidence and transparency.
Adding tax credit eligibility
In January we launched a tax credit eligibility tool to help car shoppers determine if they should expect a used EV to receive a tax credit. It has been a popular addition so we will be integrating it into Recurrent Reports in the coming weeks. For each used vehicle for sale in the US, our system will analyze the model year, price, battery size, seller and sale history to predict if it is eligible for a used EV tax credit.
While thrilled about today’s releases, the biggest update is that it’s only February and my team has an ambitious and exciting roadmap for the remainder of the year. This is only the beginning.