Keemut Launches Beta Version Of Its Contactless Vehicle Valuation Platform
Keemut, a vehicle valuation tool that uses patented technology to take telemetry data from either embedded or external hardware in a vehicle, has just launched a beta version of its platform. Its patented valuation engine uses both environmental and vehicle data to determine the value of your car based on how it’s been driven. It’s essentially a data logger and tracker platform. Whilst the platform caters to both ICE and electric vehicles as long as they are connected cars, it is particularly useful for owners, dealerships, and insurance companies for electric vehicles. Battery insights such as battery degradation, and which stations are best for your car, are very useful aspects of the platform.
Keemut uses the data it collects to create a more comprehensive valuation model where car owners can get feedback on how the value of their vehicle is affected by how it is treated, potentially providing useful information on things like the vehicle’s depreciation more accurately. Users can enter maintenance history to track the Total Cost of Ownership (TCO) of a vehicle and see how it compares to similar vehicles. Keemut means value in India & Pakistan. “This fits with Keemut’s goal of having car owners get a better value for their vehicle,” says Faheem Gill, Founder of Keemut. “The target market is the EV market since valuation of electric vehicles is not as clear as ICE vehicles for most people. Keemut patented the technology for battery/vehicle valuation in 2015 and has been collecting data on Tesla models in the past year with some pilot users.”
“Carfax is a tool that tells you public information about a car, such as was it a salvaged title. This is invaluable information and Keemut compliments this. As the car owner, you can decide what to put on it to sell it directly.” In addition, Keemut has developed a multitude of tools for car owners to get value from their subscription ($4.99 – $9.99 per month) with features such as battery health, trip history, mileage history, and features for Turo and other gig workers. One example is mileage tracking for personal and business use. Another example is seeing your car’s ROI if you rent it on Turo.
Users can sign up at Keemut.com and can connect their car via the manufacturer vehicle login. Keemut states that they do not store the password, rather they ‘fetch’ a token which gives them temporary access. Once a user is signed, they get access to a Keemut Report which they can sell when it’s time to sell their vehicle. To find out if your car is compatible, you can check this link. They have over 15 manufacturers on their platform already. The Keemut report is built to encourage contactless sales. Contactless sales and online car sales have been given significant attention since the start of the Covid-19 pandemic.
Unlike Carfax or other reports, where there is very little information on the history of the car, Keemut provides a daily driving point of view, and those reports are generally not available in emerging markets. This can be really useful for countries in Sub-Saharan Africa, where 90% of cars brought into the country are used vehicles from Europe and Asia. A lot of these are old ICE cars ordered online. As the inventory of used EVs grow in the source markets, more used EVs are becoming available for consumers in Africa to import. The Keemut style report could be a very useful addition for buyers in these emerging markets providing key information such as the engine/battery health, driving, and maintenance history. Keemut is looking for beta testers globally and has vehicles connected in North America, Europe, and Asia.
Another key feature of the Keemut platform is the ICE vs EV TCO for brand new vehicles and more importantly for used vehicles up to 5 years old. The TCO is an important subject and is an area well covered on CleanTechnica, and you can check out more information on TCO here. With stakeholders in some markets pushing for curtailment imports of used ICE vehicles by banning imports of vehicles older than 5, 8, or 10 years depending on the country, such a comparison — especially taking into consideration the depreciation of used vehicles — will help consumers pick the most viable vehicle available to import. With a Keemut report, a car buyer can request a report and much of the internal data points are available instantly to car buyers. The Keemut report will be a simple URL that can be shared in an ad or email with prospective buyers. To view the full report, a car buyer will purchase the report with majority of the proceeds going to the car owner. An added bonus is that the seller does not have to answer questions from people who are not serious.
In its vehicle valuation value proposition, Keemut emphasizes the importance of the integrity of the data in providing accurate valuation of a particular vehicle. This is how it aims to differentiate itself from the many vehicle valuation online websites, as well as other brick-and-mortar vehicle valuation services. By providing consumers with a proper valuation of a vehicle, the consumers will have a better understanding of the vehicle’s true value and market price, potentially saving or earning quite a bit of money during a sale.
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