carVertikal offers a blockchain-based solution that collects as much information as possible about the history of a vehicle from various sources (leasing, insurance, private owner) in a single register. Vehicle owners can thus check data about their car, such as whether the mileage of the vehicles are correctly specified or any accidents were logged.
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CB Insights Intelligence Analysts have mentioned carVertical in 1 CB Insights research brief, most recently on Mar 9, 2022.
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Latest carVertical News
Sep 19, 2023
The electric car market is not slowing down Matas Buzelis, head of communications at car history verification company CarVertical, says that the growth of the electric car market is still accelerating. According to the interviewee, this trend is particularly pronounced in Western Europe. “In some countries, such as Germany, France or Great Britain, the market share of new electric cars is already about one-sixth or even one-fifth of the total new car market. However, due to the higher prices of cars with internal combustion engines, electric cars are still rarely found in Eastern European markets”, M. Buzelis shares his insights. This is confirmed by the data published by The Wall Street Journal, according to which the worldwide sales of electric cars in 2022, compared to 2021, increased by 68 percent. – they sold 7.8 million Looking at the European market alone, nearly 14 out of 100 new cars registered here last year were purely electric. True, in 2022, it was possible to notice a growing gap between fully electric and plug-in hybrid cars – sales volumes of the latter were decreasing, and fully electric accounted for as much as 60 percent. of all electrified vehicle sales in Europe. Market leaders increased sales volumes Among the manufacturers that showed the best sales figures for electric cars in Europe, Volkswagen Group, which even owns several brands of electric cars, was in first place. In second place is Tesla, and in third is the Stellantis group, which also includes many different brands under one umbrella. In fourth place is the Hyundai-Kia group, which recorded 15 percent. sales growth compared to 2021. Also, this group stood out with the highest growth in the top ten of the plug-in hybrid market – Hyundai-Kia’s sales swelled by as much as 38 percent. “The Koreans rushed to produce electric cars in a very timely manner. For example, Toyota only recently launched its first electric car, and buyers and the entire market have already acquired the inertia of buying electric cars. Another is to be able to please customers – both Kia and Hyundai have offered bold solutions in the last decade and chased their rivals by seven miles. That’s why they caught up”, M. Buzelis comments on the strong position of such manufacturers in the sales table The interlocutor also thinks that the mentioned manufacturers are perfectly capable of offering the market what it needs. According to Mr. Buzel, for example, Kia models are no longer what many were used to seeing a few decades ago. Now they delight both with interesting design elements and eye-catching interiors, which is exactly what buyers expect. It is true that electric cars produced by Koreans are usually compared with each other, because it is difficult to find competing models in the same price segment. They stand out in various aspects. For example, the 800-volt charging system installed in the Kia EV6 is only found in much more expensive models such as the Audi e-tron GT, Porsche Taycan or its relative, the Hyundai Ioniq 5. The market is changing – there is no need to look back It is with the latter model that the aforementioned Kia electric car is often compared. Doug Newcomb, an electric car reviewer at the popular pcmag.com portal, was tight-lipped about the EV6 in his conclusion: “The 2023 Kia EV6 is similar to its corporate sibling, the Ioniq 5, in many ways, but with a longer range and better dynamic performance.” For his part, Mr. Buzelis adds that, in addition to the fact that Koreans have learned to produce the kind of cars that Europeans like, electric cars can basically be like a new page in the history of manufacturers. Therefore, buyers should not look back. “Some of the problems specific to the brand may not be reflected in electric cars. For example, if a particular manufacturer’s automatic transmissions or certain engines had problematic or weak spots, electric cars will not have them because they do not need these components. Technically, electric cars are simpler, have significantly fewer moving parts, and it would be quite right to forget the myths and stereotypes about one or another manufacturer that floated 20 years ago. “Cars from different manufacturers in the same segment have never been so similar as they are now,” the interviewer emphasizes. And indeed, a couple of decades ago, Koreans could not boast of bright cars. When the era of electric cars began, the situation began to change. Here’s what car review portal caranddriver.com wrote about the Kia EV6: “The handling is excellent, especially as a crossover, and it’s fun to drive on country roads. The new EV6 GT model is suitable for the enthusiast driver as its 576 horsepower is enough to make Stinger owners jealous. Thanks to the quiet and spacious interior, the EV6 justifies its place in the SUV market and is not inferior to such competitors as the Ford Mustang Mach-E, the Ioniq 5 and the Volkswagen ID.4.” 2023-09-17 10:46:44
carVertical Frequently Asked Questions (FAQ)
Where is carVertical's headquarters?
carVertical's headquarters is located at 5, Kesklinna District, Tallinn.
What is carVertical's latest funding round?
carVertical's latest funding round is Seed.
How much did carVertical raise?
carVertical raised a total of $20K.
Who are the investors of carVertical?
Investors of carVertical include Volkswagen Future Mobility Incubator.