Remarketers Group Generates More In-Depth EV Topics – Remarketing

The IARA Summer Roundtable hosted meetings of all of its standing committees on August 17, 2022 in Nashville, Tennessee to discuss a wide range of remarketing industry topics, including evaluation and the management of used electric vehicles.

Photo: Martin Romjue/Bobit

Roundtables are not just meant to be discussed, but can be loaded with issues and agendas, like a convoy of hard-to-digest pans.

At International Automotive Remarketers’ annual summer roundtable on August 17, its Industry Advancement Committee, responsible for overseeing electric vehicle standards, technology and policy, raised a list of questions which could fuel many future discussions and stimulate the necessary guidelines for shippers and auctions. to refurbish and resell fleets of electric vehicles.

As the global market for electric vehicles grows, the sector poised to be among the first mass users is fleet transportation, given its more controlled and predictable usage and duty cycles.

The committee has announced that it has a basis for supporting electric vehicles: it has developed a glossary of electric vehicle terms that members can commonly refer to, and it has formed a working relationship with the National Auto Auction Association on the development of remarketing standards for used electric vehicles. These would include assessing battery life and installing charging infrastructure.

Venkat Krishnamoorthy, committee member and CEO of AutoIMS, said the committee wanted to focus on the logistics and transportation aspects of electric vehicles, getting them to and from auctions, dealerships and customers. The committee seeks diverse representation from the many professional and professional roles within remarketing that touch on electric vehicles, he said.

Participants seated along a crowded “square” committee panel quickly became immersed in a ricocheting discussion about all-electric vehicles that raised mounting challenges and concerns:

  • How will heavier electric vehicles affect the weight capacities of trucks and transport vehicles and affect decisions about which vehicles to use?
  • Will the new load distributions increase the risk of damage to electric vehicles and the trucks that transport them?
  • Will the auto transport industry need newer, larger truck models that can handle heavier EVs, and how would heavier trucks affect road weight capacities?
  • Will the trailers be large enough to accommodate wider and heavier EVs? How do you prevent drivers from getting stuck in electric vehicles with conventional vehicles for
  • What is the risk of damage to the chassis of an electric vehicle, and what happens if the battery is positioned there? Does minor damage cause the car to be totaled?
  • What are the fire risks given that electric vehicle battery fires can burn for hours before being extinguished with sediment in addition to water?
  • And would it increase insurance compensation limits in the event of a catastrophic fire in a transport truck loaded with electric vehicles?
  • How do weight and safety issues affect insurance policy and liability calculations in general, and will new policies with higher rates be needed?
  • Will car transporters have to raise their prices to maintain their margins?
  • When EVs are dead and won’t start, will a starter pack work? What equipment should be installed on a transport truck to start an EV?
  • How do shippers, auctions, and captive finance companies coordinate with repo operations to successfully pick up and transport EVs?
  • Will there be new competitive opportunities for transport companies that specialize in electric vehicles and can charge higher rates?
  • How do you put in place the support structure to educate all industry workers involved in the handling and evaluation of electric vehicles, including transporters, technicians, mechanics, drivers, report writers, etc. state, lenders, financiers, floor managers, etc. ?
  • How do you reconcile the practices and standards of legacy carriers with those of broker-carriers who do not use the same equipment?
  • How do you establish consistent auction standards to handle what happens when an EV out of its first life cycle beyond warranty goes up for auction a second or third time?
  • What are the risks of subscribing to an electric vehicle?
  • Do you repair electric vehicles through auctions or specialist third-party services?
  • What are the expectations of wholesale buyers regarding the costs of purchasing and transitioning electric vehicles? Do you incur the cost of certain repairs to make an EV more salable?
  • What will be the pool of buyers for end-of-life electric vehicles? Do foreign countries have the same capacities to manage them?

“There are so many variables, and we’re all still learning,” said committee member John Mathiowetz, who started a series of blogs and podcasts about electric vehicles from a remarketing perspective. “There are so many considerations we have to take into account.”

As the roundtable fizzled out, IARA President Jeff Bescher boiled the discussion down into a series of “rabbit holes” worthy of much greater investigation and scrutiny.

Originally posted on Vehicle Remarketing

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