National Alternative Fuel Vehicle Training Consortium Director, Bill Davis spoke at the Automobile Equipment Appraisers’ Association of North America at a recent meeting in Pittsburgh about appraising natural gas, propane, and electric drive vehicles. Association members complete appraisals for insurance issues, bankruptcy, mergers and a variety of legal issues, and other reasons, with bank financing being the most common.
NAFTC Director Bill Davis recently discussed alternative fuel vehicle appraisals with the Automobile Equipment Appraisers’ Association of North America. Credit: NAFTC.
Davis discussed how appraisals are different for alternative fuel and advanced technology vehicles. Appraisers must consider the life expectancy of natural gas tanks, how to determine if tanks have been damaged, if a vehicle is powered by propane, and how to determine additional value for alternative fuel and advanced technology systems.
“Alternative fuel and advanced technology vehicles are going to keep growing even with lower petroleum gas prices. They play a critical role in reducing pollution and increasing energy independence. And – the EPA has increased CAFE standards for 2025 and manufacturers will have to use alternative fuel and advanced technology vehicles to attain those standards,” said Davis.
The Environmental Protection Agency Corporate Average Fuel Economy (CAFE) standards require vehicle manufacturers to comply with gas mileage, or fuel economy standards set by the Department of Transportation. Fleet owners will have to utilize alternative fuel and advanced technology vehicles to comply with these standards and insure a clean energy future.