- Battery health is now the key metric determining an electric vehicle’s (EV’s) value, surpassing traditional mileage considerations.
- 2023 EVs exhibit significant improvements in battery longevity, with 90,000-mile cars retaining 86% of their battery health, compared to 76% in models from 2016-2017.
- Generational offers tools to diagnose battery health accurately by connecting to the vehicle’s OBD port, aligning assessments with manufacturer benchmarks.
- Older EVs still provide value, especially for drivers with lower distance needs, emphasizing the importance of understanding battery health.
- Certification of battery health is becoming crucial in used EV sales, with companies like Polestar providing battery health certificates to ensure transparency and consumer confidence.
- The dynamic used EV market now prioritizes battery performance as a vital factor for buyers investing in used electric vehicles.
In the burgeoning landscape of electric vehicles (EVs), a paradigm shift is transforming how we assess used cars. As 2023 ushers in a new era of technological sophistication, a startling revelation has emerged: battery health, not mileage, defines an EV’s real value. Like a secret pulse, the battery condition harbors insights into a car’s longevity and resiliency, painting a portrait of future performance that simple odometer readings could never capture.
Recent findings by battery certification experts at Generational highlight a stunning leap in EV battery longevity. Imagine the high-speed hum of a 2023 electric vehicle zipping down the highway with 90,000 miles on its wheels, yet maintaining a robust 86% of its battery health. Compare this to the yesteryears of 2016–2017 models, where the same mileage would unfurl a more subdued story, with battery health lingering just below 76%. This leap, more than a mere statistic, signifies the relentless evolution in battery technology.
At 50,000 miles, a 2023 EV maintains a battery health margin that is over 5% superior to its older siblings from several years ago. This marks a pivotal juncture as used EV market dynamics—and customer anticipations—begin to sway from the traditional odometer reading to a meticulous analysis of the battery under the hood.
Oliver Phillpott, at the helm of Generational, succinctly captures this evolution: the battery’s health is now the new mileage. It’s a concept that may seem abstract at first; yet, for prospective buyers peering beneath the glossy exterior and the seductive hum, understanding this element illuminates the car’s future potential. The tools to diagnose this vital component are advancing. Generational’s platform, plugging straight into a vehicle’s OBD port, offers a microscopic glimpse into the battery’s health, aligning it against the original manufacturer benchmarks.
This shift in metrics unfolds more than just technical revelations—it offers real-world implications. Older EVs, though perhaps trailing in technical advancements, still stand as compelling choices for drivers attuned to their needs, especially those navigating shorter distances. These vehicles offer tangible value, provided the buyer is savvily aligned with their lifestyle and mobility expectations.
In the ever-dynamic used EV market, the light of transparency must burn brightly. As more early models and fleet vehicles circulate through the market, they bring with them the untold stories of their battery health. Here, certification of battery health emerges as a beacon of assurance, much like a service history or MOT certificate once served in traditional car sales. Major players like Polestar are already steering into this new lane by introducing battery state of health certificates, offering customers both clarity and confidence as they make significant purchases.
As retailers and platforms navigate these changing tides, the road ahead is clear—the narrative of used EVs is no longer just about numbers on a dashboard but the invisible strength of a battery, echoing forward with promise and potential.
Why Electric Vehicle Battery Health is the New Mileage Metric
Understanding Battery Health and Its Impact
The landscape of electric vehicles (EVs) is changing rapidly, and so is the way we evaluate them. In 2023, the focus is shifting from mileage to battery health as the primary determinant of an EV’s value. This transition is driven by significant advancements in battery technology, offering longer life and improved performance. Below are additional insights and facts that enhance our understanding of this transformative shift.
Advancements in Battery Technology
Enhanced Longevity and Performance
– Battery Health Metrics: A 2023 EV with 90,000 miles shows an 86% battery health, a testament to technological strides since 2016-2017 models, which registered below 76% for similar mileage. This improvement illustrates the enhanced durability and efficiency of newer battery technologies.
– Thermal Management Systems: Modern EVs come equipped with advanced thermal management systems that help sustain battery efficiency by preventing overheating and optimizing performance across various temperatures.
Real-World Use Cases
– Urban Commuters: For city dwellers who primarily drive short distances, older EV models with slightly reduced battery health can still offer substantial savings and functional utility.
– Long-Distance Drivers: Those who frequently undertake long commutes will benefit more from newer models that promise greater battery longevity and reliability.
Industry Trends and Market Forecasts
– Rising Demand for Certified Used EVs: The East coast is experiencing an uptick in the demand for certified used EVs, driven by consumers’ growing awareness about battery health.
– Market Expansion: According to Allied Market Research, the global EV market is expected to reach $802.81 billion by 2027, registering a CAGR of 22.6%. The growing availability of battery health metrics will likely fuel the resale market.
Pros & Cons Overview
Pros
– Accurate Value Assessment: By focusing on battery health, consumers can make informed decisions about vehicle performance and longevity.
– Sustainability: Enhanced battery life contributes to reduced electronic waste and a smaller carbon footprint.
Cons
– Evaluation Complexity: Accessing and interpreting battery health data can be complicated, requiring specialized tools not always readily available to consumers.
How-To Steps: Assessing Battery Health
1. Use Diagnostic Tools: Leverage platforms like Generational’s, which connect through a vehicle’s OBD port to provide a detailed analysis of battery health.
2. Compare Against Benchmarks: Evaluate the collected data against the manufacturer’s original specifications to gauge battery performance accurately.
Expert Opinions and Predictions
– Oliver Phillpott from Generational emphasizes that understanding battery health will illuminate a car’s potential longevity and performance. As tools for diagnosing this evolve, they’re becoming increasingly accessible to potential buyers.
Actionable Recommendations
– For Sellers: Certify the battery health of EVs before listing them for resale to boost buyer confidence and potentially command higher market prices.
– For Buyers: Insist on a battery health report before purchasing a used EV. Consider platforms offering these analyses to ensure you’re getting a reliable vehicle.
For further information on electric vehicles and their innovations, visit Tesla and Polestar.
With these insights, navigating the used EV market and making informed purchasing decisions becomes not only possible but empowering. Embrace the new standard—battery health, the definitive measure of value in EVs.