Any reason why you decided to create that page and claim that the Krakken was his car? Is there an episode I didn't watch where Kevin refers to his current car (which is the same as it has always been, as far as I know) as "Krakken"?
I agree with Blaziken about making a page each time Kevin's car is rebuilt it will only be repeative information. The only reason the Blue car has it's own article because it is a different car built from the remains of the old.
Was it mentioned or not that it was an entirely new car? As far as we know, it could have simply been painted. If so, it'd be noteworthy in the "Appearance" section, but not much else. This would be like creating a new article for Carl Nesmith after his plastic surgery, if that's the case.
I agree with OneoftheseDF. If you compare the two cars, there are at least 5 differences. These include: the wheels are different, the top of the engine is now visible and uncovered, the rear end has a much higher ground clearance, there's exhausts in front of the rear wheels and the paint job is obviously different.