A new study by Cap HPI has revealed that internal combustion engine (ICE) vehicles are being written off at more than twice the rate of electric vehicles (EVs).
The research, which analysed data from 2015 through to August 2024, found that just 0.9% of EVs under five years old have been written off, compared to 1.89% of petrol and diesel vehicles.
The trend remains consistent for one-year-old vehicles, with only 0.2% of EVs written off compared to 0.4% for ICE vehicles.
Jon Clay, Cap HPI’s Identification Director, commented: “The study challenges one of the many misconceptions about electric vehicles. The data shows that EVs are written off at half the rate of petrol and diesel vehicles.”
The analysis indicates that there are currently 1.25 million fully electric vehicles under five years old on British roads, with 355,000 of them being under one year old.
The UK Government has acknowledged the need to address misinformation about EVs. Some people feel there has been a targeted misinformation campaign over the last year, pushing persistent myths about electric vehicles, which may be influencing consumer attitudes and slowing EV adoption.
The automotive industry should work together to tackle these myths and provide accurate, balanced information, ensuring that both consumers and fleet buyers can make well-informed decisions when choosing their next vehicle.
Data from the Society of Motor Manufacturers and Traders (SMMT) shows that battery electric vehicle (BEV) registrations rose by 10.8% in August compared to the same month last year, accounting for 22.6% of all new vehicle sales.
Motor Assist is championing the adoption of electric vehicles, having introduced its EV-for-EV guarantee in 2021. Its latest initiative, EValuate, provides petrol and diesel car drivers with the opportunity to choose an EV as their replacement vehicle following an incident, giving drivers a far better, real-world experience of EV ownership compared to a standard test drive.
