Traffic congestion continues to be a persistent problem throughout the world. As vehicle-to-vehicle communication develops, there is an opportunity of using cooperation among close proximity vehicles to tackle the congestion problem. The intuition is that if vehicles could cooperate opportunistically when they come close enough to each other, they could, in effect, spread themselves out among alternative routes so that vehicles do not all jam up on the same roads. Our previous work proposed a decentralized multiagent based vehicular congestion management algorithm entitled Congestion Avoidance and Route Allocation using Virtual Agent Negotiation (CARAVAN), wherein the vehicles acting as intelligent agents perform cooperative route allocation using inter-vehicular communication. This paper focuses on evaluating the practical applicability of this approach by testing its robustness and performance (in terms of travel time reduction), across variations in: (a) environmental parameters such as road network topology and configuration; (b) algorithmic parameters such as vehicle agent preferences and route cost/preference multipliers; and (c) agent-related parameters such as equipped/non-equipped vehicles and compliant/non-compliant agents. Overall, the results demonstrate the adaptability and robustness of the decentralized cooperative vehicles approach to providing global travel time reduction using simple local coordination strategies.