High Mobility adds a VIN lookup service and residual value estimation to offer static and live data through one single platform

May 30, 2024
High Mobility enhances its data platform with a static data service provided, continuously improved, and maintained by Deutsche Automobil Treuhand GmbH. With this latest addition, companies benefit from an easier way to combine static and dynamic vehicle data for advanced use cases such as residual value monitoring.

Identifying vehicles by using the Vehicle Identification Number

Managing large car parks can be challenging due to the diversity of car brands, models, and individual car capabilities. To be fully operational, the most important requirement is to have an accurate overview of the respective manufacturers, main models, and subtype designations. More complex demands arise for car pools, corporate fleets, and rental companies, where vehicles need to be filtered and assigned according to their vehicle types (e.g. rental vehicle class) or by their performance. Some drivers might even request specific features such as all-wheel drive, which can be part of the base or special equipment individually configured when purchasing the vehicle.

Each car is associated with a vehicle identification number, a 17-digit ID that can be used to determine the brand, model series, car body design, engine, details of the basic and special equipment and many other data items. Deutsche Automobil Treuhand GmbH (DAT) is one of the few trusted lookup service providers offering professional access to static vehicle data for fleet operators, dealerships and insurances, specifically for repair cost calculation and value estimation purposes. For example, referencing the German market, there is 99.8% coverage, supporting more than 47 brands through the service. For both the static data provided via DAT and live vehicle data offered through High Mobility, it is always ensured that the service is provided based on direct manufacturer agreements. 

High Mobility significantly lowers the usage barriers for those looking to consume both static and live vehicle data, as both data types can now be accessed via a single platform offering, implemented during one single integration project.

One Data Platform for the entire Vehicle Administration process 

There are four key pillars to consider in vehicle administration: vehicle identification, checking car compatibility with hardware-free live data services and managing the beginning and end of the live data transmission. For the onboarding process, two basic questions need to be answered: what kind of vehicle should be managed and is the car capable of providing live data without installing additional hardware?

With DAT’s VIN lookup service fleet operators now get a full overview of the respective brand, model, vehicle type, performance, and equipment. This enables them to distinguish cars by their capabilities that are not visually identifiable. High Mobility’s eligibility check API provides a secure and trusted result that outlines if a car comes with the required connectivity features to provide dynamic information such as upcoming service requirements or mileage data.

If the car is compatible with the service, data transmission can be triggered using the fleet clearance interface. As soon as the vehicle is actively sending data updates, insights about vehicle utilisation can be generated and incorporated into the vehicle management workflows. When the vehicle is sold or is no longer part of the fleet, the same interface can be used to off-board the car from the system. From this point, no further data will be transmitted. All interface operations of the vehicle administration process are normalised and feature multi-brand coverage.

Combining static and live vehicle data: Continuous monitoring of the residual value estimation

Cars and vehicles are essential parts of the company inventory and therefore require special attention when it comes to asset valuation procedures. Vehicle valuation needs to consider both static and dynamic data, as not only the initial vehicle list price and the added value of the respective special equipment but also the current mileage must be taken into account to get an initial idea of the residual value.

DAT’s valuation service is based on a detailed vehicle identification, the expertise of professional market researchers and vehicle transaction prices executed by real dealerships. High Mobility’s connected car data interface is the best way to receive a trusted odometer reading, which is essential for accurate valuation results. The combination of both endpoints can now be easily achieved without changing the platform and API technology.

Continuous and automated monitoring of residual values leads to completely new opportunities for numerous businesses that deal with cars and drivers regularly. Leasing companies can now track utilisation and the impact on a car’s residual value even during the leasing period. This helps proactively manage the relationship between the leasing company and the driver and supports risk reduction accordingly. Repair shops and dealerships can now identify the ideal point to replace a customer’s car, potentially increasing customer retention. Insurance companies can use live data enabled valuation information to calculate premiums more accurately based on the current value and condition of the vehicle. This ensures fair pricing for customers, reduces the risk of under or over-insuring and paves the way for dynamic insurance offerings.

The use of the DAT VIN lookup service and the residual value interface via the High Mobility platform requires a separate product contract with Deutsche Automobil Treuhand GmbH, the vehicle eligibility check and live data transmissions are direct products offered by High Mobility. 

Learn more about static data, vehicle value estimation and connected car data in a free online consultation.

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