WE ALL know that a lack of processing chips was a prime reason for the infamous vehicle shortages of the recent past, and numbers of between 1400 and 1500 semiconductor chips for each car, and even some cars said to have as many as 3000 chips, have made the industry realise the extent to which microprocessor production is controlling automotive production.

But another symptom of chip proliferation is vehicle complexity.  

Every new chip comes with a new function or feature, or a series of features or functions, and when it comes to cataloguing these the list is becoming massive across the scores of brands and hundreds of models and variants.

New brands are arriving almost monthly with an array of vehicles brimming with new devices, displays, drivelines and multiple sources of power technology. 

The proliferation of advanced driver assistance systems (ADAS) and their various features adds massive complexity. So too does the virtual explosion of various EVs, hybrids etc, all with their own unique specifications and features. 

These have all added tens of thousands of new lines of data that need to be documented and sorted.  

It is against this background that leading global automotive data firm JATO Dynamics and recently-minted auto market analyst AutoGrab have ventured into a partnership.

The task has become so complex that both parties sought each other’s help by way of a partnership to shape the future of automotive intelligence data.

The partnership sees the two firms sharing data, with JATO gaining a greater insight into Australia’s used car market and AutoGrab gaining international data to support its international expansion into the ASEAN region and key European markets in 2024, including Malaysia and the UK.

Data from the partnership, which began in January 2024, has already begun flowing through to the AutoGrab platform. This includes AutoGrab’s valuation data, price forecasting and insurance records.

The companies say that every single car has a story and that it is essential that each story is as complete as possible if the data captured for it is to be meaningful and have value.

“Every single car has a story and that it is essential that each story is as complete as possible if the data captured for it is to be meaningful and have value.” AutoGrab.

AutoGrab chief executive and co-founder Chris Gardner said in a statement: “Vehicles are evolving at an unprecedented pace, with advancements like ADAS features, intricate safety systems and bespoke options becoming standard. 

“This complexity demands a deeper understanding and visibility of their unique attributes. We as an industry have to ensure that every car’s story is told in full or we risk undervaluing their true potential and even their safety.

Chris Gardner, chief executive and co-founder, AutoGrab

“This partnership brings us closer to a future where the stories are known, where insurers can assess assets with precision, and where the industry as a whole benefits from better transparency and better data.”

Mr Gardner said to “think of it as creating a comprehensive passport for every vehicle, shedding light on every detail you need to know”.

Mr Gardner told The Australian that more complete data on the safety features of a car could mean, for example, a lower premium for the owner because the insurance risk allocated to that car was lower.

“If a consumer goes to, let’s say AAMI, and types in their registration plate and some information about their vehicle, it’s very important that AAMI knows that you have a lane departure warning system because that can increase or decrease the likelihood of an accident,” Mr Gardner said.

“But they haven’t been getting this data upfront, which means that the cost of premiums have been skyrocketing globally. So there’s a very big incentive for insurance companies to really understand the asset that they’re insuring to help bring that price down for consumers.”

He said the alliance would “create the most comprehensive view of the vehicle than we’ve seen before”.

AutoGrab’s platform captures and aggregates real-time, market-wide data on all vehicles listed online, using an AI-driven machine learning model.  He said JATO’s expertise and global reach make it an ideal ally as AutoGrab ventures into new territories, including a strategic expansion into the UK

Peadar Walsh, Global Head of Digital Marketplaces, JATO