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Resource

The world’s most valuable resource is no longer oil, but data…

9 August 2021

big data

If data is the new oil what are insights and intelligence?

Automotive

Related Insights

Insights

Vehicle Configuration Complexity and Strong Used-Vehicle Market Wreak Havoc on Auto Insurance Valuation Models and Carrier Profitability

Vehicle configuration complexity has increased exponentially over the last 10 years, primarily driven by a shift from mechanical systems to "software-defined" architectures, with over 600,000 unique vehicle configurations sold in North America in the 2025 model yearAverage used-vehicle retail prices have risen 20% in the past five yearsAuto insurance actuarial models built on incomplete vehicle identification data could be off by upwards of $15,000 per vehicle Henry Ford famously said that customers “could have a Model T in any color they want—so long as it was black.” Today’s automotive market could not be more different. Vehicle customization has exploded over the past decade as automakers compete to meet increasingly specific consumer preferences. For example, in the large pickup truck segment, the Ford F-150 currently has upwards of 100,000 unique build configurations and, market-wide, more than 600,000 unique vehicle configurations were sold in the United States in the last year alone, according to JD Power data.While this level of customization has benefited consumers and automakers, it has created a growing challenge for auto insurers. Many actuarial models used to price and underwrite policies still rely on simplified vehicle identification data that cannot fully capture the configuration and replacement value of modern vehicles. At the same time, volatility in used-vehicle pricing and rising repair costs are further complicating valuation models that were built for a far more predictable market.This combination of vehicle complexity and market volatility is creating a widening gap between the values insurers assume during underwriting and the costs they ultimately face when repairing or replacing vehicles after a claim.This Insurance Intelligence Report explores key data points gathered from JD Power studies and proprietary market data to offer a data-driven perspective on the current state of insurance industry vehicle valuations. Widespread MSRP Variability Within the Same TrimOne of the most significant challenges insurers face today is the dramatic variability in vehicle pricing—even among vehicles that appear nearly identical on the surface. Automakers now offer a wide range of factory-installed options, packages and custom features that can dramatically affect a vehicle’s price. From advanced driver assistance systems (ADAS) and upgraded powertrains to premium interiors and specialty paint packages, two vehicles with the same year, make, model and trim can have vastly different original values.For example, a 2024 Ford F-150 Lariat 4WD SuperCrew with a 5.5-foot bed could have been sold for approximately $69,630 with standard options, while a fully optioned version of the same vehicle could reach $84,465, according to JD Power data. For insurers, this creates a consequential underwriting blind spot. Unless they have access to the full 17-digit vehicle identification number (VIN) and the corresponding OEM build data tied to that VIN, they may not know which configuration they are actually insuring—creating up to $14,835 in unknown price variability.Many insurers rely on a shortened VIN identifier—often referred to as a “squish VIN”—when building underwriting models or quoting policies. While this truncated VIN provides basic information such as year, make, model, and sometimes trim level, it lacks the detailed configuration data needed to accurately assess a vehicle’s full replacement value.As vehicle configuration complexity continues to increase, reliance on simplified vehicle identification methods can introduce significant pricing inaccuracies into underwriting models.The Great Used Vehicle Price ResetVehicle complexity is only part of the challenge. The used-vehicle market has also undergone significant structural changes over the past several years.The average used-vehicle retail price is now $29,488, reflecting a more than 20% increase over the past five years, according to JD Power data. Much of this increase can be traced to supply shortages caused by pandemic-era production disruptions, which limited the availability of late-model used vehicles entering the market. For insurers, this volatility creates another modeling challenge. Traditional valuation models have long relied on the assumption that most mass-market vehicles depreciate roughly 20% per year. However, recent market dynamics have disrupted those historical depreciation patterns.Take the earlier example of the 2024 Ford F-150. Today, that vehicle is worth approximately $50,965, representing a 28% decline from its original MSRP. Under traditional depreciation models, insurers might have estimated the vehicle’s current replacement value at roughly $55,165, resulting in a $4,200 gap between projected and actual value. EV’s are further complicating traditional valuation models as EVs are projected to lose 59% of their value over five years, compared to an industry average of 46% for all vehicle types, according to JD Power data.Across millions of insured vehicles, valuation discrepancies like this can meaningfully impact claims severity and insurer profitability. More Tech, More ProblemsAnother major factor complicating insurance valuation models is the rapid expansion of vehicle technology. Modern vehicles increasingly include ADAS such as automatic emergency braking, adaptive cruise control, lane-keeping assistance and collision avoidance technologies. While these features improve safety and help reduce the likelihood of severe accidents, they can significantly increase repair costs when collisions occur.Sensors, cameras and radar modules are often embedded in bumpers, mirrors, windshields and body panels. Even minor accidents can require expensive sensor replacements and complex recalibration procedures.Accurately modeling this risk requires insurers to know precisely which safety technologies are installed on each vehicle they insure. Without accurate, detailed VIN-level configuration data, insurers may not have visibility into which vehicles contain these systems and which do not—introducing further uncertainty into repair cost projections. AI TransformationAs insurers increasingly adopt AI-driven underwriting, claims automation and pricing optimization tools, the importance of accurate foundational data becomes even greater. Artificial intelligence models are only as effective as the data used to train them. Without precise vehicle configuration and valuation inputs, AI systems risk amplifying inaccuracies rather than improving decision-making.Insurers that modernize their vehicle data infrastructure will be better positioned to price risk accurately, control claims severity and maintain profitability in an increasingly complex automotive landscape. Cracking the CodeWith the average new-vehicle transaction price now exceeding $46,000, insurers should expect continued upward pressure on vehicle repair and replacement costs. However, rising costs do not necessarily mean insurers must accept greater pricing uncertainty.Insurance has always been about accurately measuring and pricing risk. In today’s competitive environment, doing so requires more precise data about the vehicles being insured.As vehicle complexity has accelerated, insurers need to be able to track more detail than what’s currently available in “squish vin” datasets. Access to full 17-digit VIN configuration data, OEM build information, real-time vehicle valuation insights and feature-level vehicle attributes can help insurers build more accurate underwriting models, improve claims severity forecasting and better align pricing with actual risk. What Lies AheadFor an insurer, moving from generic VIN decoding to precise, configuration-level data transforms the business from reactive to surgical. As vehicles have become "computers on wheels," with significant price variations, knowing the exact build data—not just the year, make, and model—is the difference between profitability and a loss ratio spike.After years of record rate increases and now that pricing issues have been resolved, auto insurance carriers are pulling out all the stops to grow. By shifting from broad vehicle categories to precise, VIN-level configuration data, insurers are gaining the pricing confidence needed to aggressively target new growth opportunities by selling to a broader set of consumers with varying degrees of risk. Find out MoreThis Insurance Intelligence Report was authored by James Vecchio, Head of VIN Products at JD Power. The analysis draws on JD Power studies, proprietary market data, and VIN‑level configuration and valuation intelligence, including insights derived from the JD Power StudyPrice 2.0 tool, which decodes the full 17‑digit VIN to reflect a vehicle’s exact build profile.JD Power Specialty Vehicles provides P&C insurance carriers with advanced decoding and valuation products for powersports, marine, recreational vehicles, classic cars, commercial trucks, and manufactured housing. Available via subscription, our data is the most accurate and robust in these industries—trusted by more than 90% of the market.To learn more about the research, underlying methodology, or vehicle valuation capabilities available to insurers, please contact the JD Power Insurance Intelligence team.Media ContactsBrian Jaklitsch; East Coast; 631-584-2200; [email protected] LaMuraglia, JD Power; East Coast; 714-621-6224; [email protected]

Insights

How Automotive Marketers Can Capture Shopper Attention in 2026

Automotive Insights from JD Power ResearchIn an era of record-high vehicle prices and extended ownership periods, the decision-making process for purchasing a vehicle is more complex than ever. To explore strategies for standing out in this competitive landscape, Frank Hanley, senior director of auto benchmarking at JD Power, shared his perspective on empowering shoppers to make informed decisions, the importance of highlighting dependability and driving EV adoption. These insights can help to inform or shape automotive marketing strategies in 2026. Why Access to Unbiased Information is Critical for Today’s Consumer Today’s automotive shoppers face overwhelming choices, making unbiased and reliable information more valuable than ever. While vehicle shoppers can access countless online reviews and editor ratings, these sources often fail to capture the full picture, relying on feedback from a small, unrepresentative sample of consumers. JD Power’s approach is different: We collect data from more than 6 million consumers annually, delivering insights grounded in real-world experiences.The research behind our rankings is independently funded and based on feedback from a large, representative sample of verified customers—not testers, editors, or so-called experts.We identify areas of satisfaction and common problems, helping consumers make better-informed decisions. This unbiased data empowers shoppers to make their choices with confidence and select a vehicle that genuinely aligns with their needs and expectations. The Importance of Promoting Long-Term Dependability Consumers are keeping vehicles longer than ever—on average, 12 years or more1— beyond the typical 3-year/36,000-mile warranty period. Unsurprisingly, expected reliability has become the top reason buyers choose one model over another. 2 The JD Power 2026 U.S. Vehicle Dependability Study highlights this growing customer focus on dependability, underscoring the fact that not all vehicles age equally.While some brands see a reduction in problems from 90 days of ownership to three years by as much as 12%, others experience as high as a 39% increase in problems during this period.The average rate of increase in problems from 90 days to three years is 6% for the industry. Marketers promoting makes and models with strong dependability have powerful messaging opportunities that meet the expectations of modern car buyers. Rethinking EV Marketing to Drive Adoption As electric vehicles (EVs) gain momentum, marketers face unique challenges in connecting with consumers. Current marketing often emphasizes aspects of the EV experience, like advanced technological features, that don’t resonate as well with first-time EV buyers. To maximize resonance, EV marketing should focus on: Convenience: Highlight the benefits of home charging and reduced trips to refuel.Performance: Emphasize the smooth, powerful driving experience of electric engines.Range: Consumers might be promised a 350-mile range on a single charge, but real-world conditions—such as driving style, HVAC use and temperature—can have a significant effect on their overall range. Be transparent about range variability due to factors like driving style and weather to build trust.By addressing shopper pain points and focusing on practical benefits, automakers can accelerate EV adoption while aligning with shoppers’ needs. Final Thoughts As the automotive market evolves, understanding shifting shopper expectations is essential for standing out in 2026.Empower consumers with reliable information: When featuring third-party information in marketing, ensure that it comes from a credible, independent source.Highlight vehicle dependability: Emphasize vehicle reliability in marketing and advertising, recognizing that consumers are keeping their vehicles for longer periods.Focus on EV benefits: Emphasize key aspects of the EV experience, including convenient home charging, realistic range, and the high-performance driving experience. By leveraging these data-driven insights, marketers can better connect with today’s automotive customers and stand out in a highly competitive market. Learn more about these automotive awards:U.S. Vehicle Dependability StudySMU.S. Electric Vehicle Experience (EVX) Ownership StudySMU.S. Customer Service Index (CSI)SMU.S. Electric Vehicle Experience (EVX) Home Charging StudySM 1JD Power 2026 U.S. Vehicle Dependability StudySM2JD Power 2026 U.S. Sales Satisfaction Index (SSI) StudySM

Insights

EV Sales Down, but Not Out: U.S. Consumer Interest Continues to Grow, Led by Current EV Lessees Coming Back to Market

E-Vision Intelligence ReportNovember 2025Key FindingsReturning EV Lessees Double-Down on New EVs: A total of 243,000 franchise EV leases[1] will come to an end in 2026, more than three times the volume of EV lease returns in 2025. Based on the behavior of returning franchise EV lessees in 2025, 62% replace their vehicles with new EVs. Among current EV owners, 94% say they “definitely will” (79%) or “probably will” (15%) consider an EV for their next purchase or lease.EV Consideration Surges in October: The percentage of active new-vehicle shoppers who say they are “very likely” to consider buying or leasing an EV in the next 12 months increased to 24.2% in October, up from 21.6% in September. This is the highest level of EV consideration since January 2025.Lower Cost of Ownership is Top EV Purchase Driver: The number one reason EV owners select an EV over a gasoline-powered vehicle is expected lower running costs. In the majority of cases (86%), EVs end up delivering on that expectation.Executive SummaryConsumer response to the repeal of the $7,500 EV tax credit has been swift and dramatic. For the month of October 2025, the first full month following the expiration of the federal incentive program, EV sales plummeted by 53% and now represent just 6.0% of total monthly new vehicle sales, down from 12.9% in September. The big question now is whether that decline represents a true shift in consumer sentiment away from EVs or more of a rebound-effect following several months of surging sales as new-car shoppers raced to take advantage of the tax credits while they were still available.Based on JD Power data, which captures both real-world sales and lease volumes, and consumer sentiment and ownership experience data among current and prospective EV buyers, the future of EV demand in the United States is a bit more nuanced. While the end of the EV tax credit will significantly affect EV sales volumes over the next several months, the bottom will not fall out of the EV market.This E-Vision Intelligence Report dives into key data points gathered from JD Power studies and proprietary market data, to offer a data-driven consumer perspective on the EV customer experience.Current EV Owners Still Hooked on EVsOne variable that’s been largely absent from recent analyses of EV demand has been the loyalty to EVs among current EV lessees. The data suggests that a significant number of current EV owners will be back in the market for a new car within the next year, and the majority of them plan to get another EV.The 2025 U.S. Electric Vehicle Experience (EVX) Ownership Study found that 94% of current EV owners say they “definitely will” (79%) or “probably will” (15%) consider an EV for their next purchase or lease. Furthermore, 243,000 franchise EV leases will come to an end in 2026, putting those customers back into the market for a new vehicle. According to JD Power data, 62% of returning franchise EV owners in 2025 chose to purchase or lease another EV. EV Consideration Rates Climb in OctoberConsumers currently planning to purchase or lease a new vehicle in the next 12 months appear undeterred by the end of the EV tax credit. More than half (59.7%) of new-vehicle shoppers say they are “very likely” (24.2%) or “somewhat likely” (35.5%) to consider buying an EV in the next 12 months. The number of shoppers who are ”very likely” to consider an EV is up 2.6 percentage points from September and is now at its highest level since January.EVs Deliver on Promise to ConsumersAnother important variable in the longer-term health of the EV market is customer satisfaction. According to JD Power data, the top five reasons current EV owners give for selecting an EV are expected lower running costs (57%), tax credits/incentives (51%), driving performance (48%), purchase price/lease offer (47%), and model design and styling (35%). While the end of the federal tax credit will certainly affect that value equation, it is important to note that EVs have consistently met or exceeded owners’ expectations on running costs.Among current EV owners, 60% say their vehicles are much less expensive to own than gasoline-powered vehicles, and another 26% say they are slightly less expensive to own and operate. Just 7% of current EV owners say they are more expensive.MethodologyThis JD Power E-Vision Intelligence Report is based on data and insights from the JD Power 2025 U.S. Electric Vehicle Experience (EVX) Ownership Study, the JD Power 2025 U.S. Electric Vehicle Experience (EVX) Public Charging Study, the EV Volumes Country Share Tracker, and the JD Power 2025 U.S. Electric Vehicle Consideration (EVC) Study. Find out MoreThis report was authored by Brent Gruber, executive director, electric vehicle practice. The JD Power E-Vision initiative is a company-wide program focused on maximizing JD Power industry-leading EV data, analytics, insights and solutions. Please contact us at the numbers below to connect with Mr. Gruber or to learn more about the underlying research.Media ContactsShane Smith; East Coast; 424-903-3665; [email protected] LaMuraglia, JD Power; East Coast; 714-621-6224; [email protected]

7 November 2025

Insights

Despite Improvements in Reliability and Availability, Public Charging Remains Top Stumbling Block to EV Adoption

E-Vision Intelligence ReportJune 2025Key FindingsPublic Charging Concerns Remain Top Barriers to EV Adoption: Nationwide, 59% of vehicle shoppers say they are “very likely” or “somewhat likely” to consider purchasing an electric vehicle (EV)—a rate that is unchanged since 2024. Among the remaining 41% of shoppers who are unlikely to consider an EV, concerns related to public charging infrastructure continue to grow, while concerns about cost of ownership and reliability have begun to fade.Public Charging Reliability and Availability Increases Significantly: The percentage of public charging station visitors who were unable to charge their vehicles fell to 16% in the first quarter of 2025 from 20% in the fourth quarter of 2024, marking the largest quarterly improvement in charging station reliability. Customer satisfaction with the availability and speed of charging also improved in the first quarter of 2025.Consumer Demand for Public Charging Availability Highlight Opportunities to Educate: Among EV rejectors who are unlikely to consider an EV based on public charging station availability, 44% said they would reconsider their decision if charging stations were available at least every 25 miles, which is the case in most populated areas of the U.S. today.Executive SummaryThe auto industry has some work to do to help consumers get over the stigma surrounding the U.S. public charging network if they want to sell more EVs. Even as public charging station availability and reliability continues to improve, and lingering consumer concerns about EV costs and reliability fade into the background, people who still reject the idea of owning an EV are largely motivated by fears that public charging infrastructure is just not where it needs to be. However, when these concerns are measured against real-world EV ranges and current patterns of EV charging, it becomes clear that the real stumbling block to wider EV adoption is consumer education.This E-Vision Intelligence Report dives into key data points gathered from JD Power studies and pulse surveys, to offer a data-driven consumer perspective on the EV customer experience.The Public Charging StigmaFrom the first moment EVs became widely available to consumers, two concerns have consistently surfaced as the top barriers to adoption: cost and range anxiety. Cost concerns seem to have reached an inflection point, with key criteria such as purchase price and total cost of ownership declining significantly as the top reasons for EV rejection. Concerns about public charging, however, continue to pose a problem. Among the 41% of new-vehicle shoppers who say they are “very unlikely” or “somewhat unlikely” to consider an EV for their next purchase, lack of charging station availability, limited driving distance per charge and time required to charge continue to be top stumbling blocks.Source: JD Power U.S. Electric Vehicle Consideration (EVC) StudySMInfrastructure Improvements Not Enough to Offset Consumer AnxietyMeanwhile, despite rising consumer concerns, public charging infrastructure has shown considerable improvement during the first three months of 2025 on a nationwide basis. Overall customer satisfaction with public DC Fast Charging increased 6 points (on a 1,000-point scale) in the first quarter of 2025, while satisfaction with Level 2 charging increased 8 points during the same period. This performance improvement was driven most notably by increased satisfaction with the availability of DC Fast Chargers and the speed of Level 2 charging. EV drivers also experienced fewer issues using public chargers. The percentage of public charging station visitors who were unable to charge their vehicles declined to 16% in the first quarter of 2025, down from 20% in the fourth quarter of 2024. The improved public charging success rate has played out on a nationwide basis.Source: JD Power U.S. Electric Vehicle Consideration (EVC) StudySMConsumer Education is an IssueThe widespread—and growing—consumer concern about public charging exposes a disconnect between current perception among new-vehicle shoppers and the real-world experiences of EV owners. When asked about their reasons for not considering an EV for their next vehicle, 44% of EV rejectors said they would reconsider their decision if charging stations were available every 25-100 miles. Additionally, when asked about individual vehicle range, 66% of EV rejectors said they would need an EV to cover 500 or more miles on a single charge before they would consider purchasing one. This public charging availability list and lofty range target exposes key aspects of the current consumer psyche that EV manufacturers and dealers will need to address if they want to win more customers. It also highlights some important opportunities to educate consumers on the evolution of the EV experience. In fact, there is currently a public charge point available every 41 miles across the country. Moreover, data from current EV owners shows that 81% of EV charging currently occurs on home chargers, and the majority (56%) of EV owners say their battery range “never” or “rarely” affects their driving habits. Despite those facts, EV rejectors are still not convinced they will not end up stranded on the side of the road. Source: JD Power U.S. Electric Vehicle Consideration (EVC) StudySMConsumer desire for 500 miles per charge may be more difficult for the industry to reconcile. The average real-world range cited by owners in the JD Power 2025 U.S. Electric Vehicle Experience (EVX) Ownership StudySM is 281 miles, and the average range for gasoline-powered vehicles is 403 miles.[1] While EV manufacturers continue to make gains in range with new battery formulations, the prospect of getting 500 miles per charge may not be a reality for several years. MethodologyThis JD Power E-Vision Intelligence Report is based on data and insights from the JD Power 2025 U.S. Electric Vehicle Experience (EVX) Ownership Study, the JD Power 2025 U.S. Electric Vehicle Experience (EVX) Public Charging Study and the JD Power 2025 U.S. Electric Vehicle Consideration (EVC) Study. Find out MoreThis report was authored by Brent Gruber, executive director, electric vehicle practice. The JD Power E-Vision initiative is a company-wide program focused on maximizing JD Power industry-leading EV data, analytics, insights and solutions. Please contact us at the numbers below to connect with Mr. Gruber or to learn more about the underlying research.Media ContactsShane Smith; East Coast; 424-903-3665; [email protected] Effler, JD Power; West Coast; 714-621-6224; [email protected] [1] U.S. Department of Energy, https://www.energy.gov/eere/vehicles/articles/fotw-1221-january-17-2022-model-year-2021-all-electric-vehicles-had-median

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