EVs written off FAR less frequently than petrol and diesel cars

Regardless of varied studies stating the opposite, a brand new research has discovered that EVs are being written off in Britain much less steadily than petrols and diesels.

Inside combustion engined (ICE) automobiles are written off at over double the speed of totally electrical autos, automative knowledge consultants Cap HPI says. 

The research, which examines knowledge from 2015 to August 2024, discovered 0.9 per cent of EVs below 5 years outdated have been written off, in comparison with 1.89 per cent of petrol and diesel autos. 

 An identical hole stays at one 12 months outdated fashions, the place the share falls to 0.2 per cent for EVs and 0.4 per cent for ICE.

The report is the newest excellent news piece surrounding EVs, following claims earlier this week that batteries within the newest electrical fashions now final for 20 years or longer – and customarily have an extended lifespan than elements in typical engines. 

Jon Clay, identification director at Cap HPI, mentioned: ‘The research challenges one of many many misconceptions about electrical autos. 

‘The info clearly exhibits that EVs are written off at half the speed of petrol and diesel autos. 

‘We work laborious to supply an correct image of the automotive sector to the business and shoppers alike, from valuation knowledge to provenance checks and pattern evaluation. 

‘The motor business has to collectively handle the wave of misinformation round EVs that’s current on-line to allow shoppers and fleet prospects to make knowledgeable and well-balanced selections about their subsequent car.’ 

The evaluation reveals there are at the moment 1.25million EVs below 5 years outdated on Britain’s roads. Of those, 355,000 are lower than 12 months outdated. 

In response to the newest official automobile registration figures revealed by the Society of Motor Producers and Merchants, BEV registrations elevated 10.8 per cent in August in comparison with the identical time final 12 months and accounted for 22.6 per cent of all new autos – the best market share seen since December 2022.

Cap Hpi’s knowledge goes in opposition to a lot of studies within the final 12 months or in order that have made daring claims that EV write offs are way more widespread.

An investigation by Reuters in March 2023 instructed insurance coverage firms are more and more being left with little to no alternative however to completely take electrical automobiles off the street after minor collisions, which in flip is pushing premiums greater.

The report warned of scratched and mildly broken battery packs ‘piling up in scrapyards in some nations’ with consultants saying batteries in costly Tesla Y SUVs have ‘zero reparability’ as a result of they’re a structural a part of the automobile.

Additional analysis final 12 months compiled by UK-based automotive threat intelligence firm Thatcham Analysis additionally warned that EVs are dearer to restore, take longer to repair and are extra generally written off because of injury to their batteries. 

Its Impression of BEV [Battery Electric Vehicle] Adoption on the Restore and Insurance coverage Sectors report revealed final July – funded by Innovate UK, the federal government’s innovation company – says that street collisions involving an electrical automobile are sometimes ‘catastrophic for the car’.

This chart exhibits the electrical car and excessive voltage battery repairs as a proportion of complete repairs

Thatcham Analysis confirmed the affect of a low severity affect on a Tesla and the injury it might probably trigger to the battery casing, which might then should be repaired or changed

The casing – by which the batteries are saved – typically have a large construction, making them susceptible significantly to side-on collisions

That is due to a ‘regarding lack of inexpensive or accessible restore options and post-accident diagnostics’, which regularly sees EVs written off as uneconomical to be returned to the street.

That is mostly the case if the high-voltage battery pack has sustained injury because of a collision. Batteries in electrical automobiles characterize a considerable proportion of the unique car worth and if harmed in anyway typically sees insurers deem the price to restore or exchange them exceed the automobile’s complete current worth.

The research mentioned the price of substitute EV batteries assorted broadly relying on the mannequin – although this can be very costly course of irrespective of the automobile in query.

For a premium electrical automobile, as an example, the price of a brand new battery is round £29,500, Thatcham Analysis mentioned. That is greater than the worth of a brand new petrol Volkswagen T-Roc SUV.

And for ‘budget-friendly’ electrical fashions, it estimates the common value of battery substitute to be £14,200 – that is greater than a Dacia Sandero, Britain’s most cost-effective automobile.

Earlier this 12 months, That is Cash reported on the difficulties some house owners of Chinese language EVs had been having attempting to insure their autos.

This was on account of an absence of accessible components and experience to restore them, which in flip was seeing autos being written off for comparatively low ranges of crash injury.

Drivers of BYD and GWM Ora fashions defined how they had been going through extraordinarily steep quotes for canopy as a result of only some insurance coverage suppliers will underwrite them because of the difficultly to repair them.

The federal government has recognised the necessity to handle misinformation round EVs. 

Final 12 months, Richard Bruce, director of transport decarbonisation on the Division for Transport, mentioned: ‘I do suppose there was an affect from a concerted marketing campaign of misinformation over the past 14 months or in order that has been pushing constant myths about EVs that folks take in and which is mirrored of their urge for food [for purchasing EVs]. 

‘There’s an anti-EV story within the papers virtually on daily basis. 

‘Typically there are various tales, virtually all of that are based mostly on misconceptions and mistruths, sadly.’