Analysis from cap hpi has found that electric vehicles are written off at less than half the rate of petrol and diesel models.
The study, which looked at data from 2015 to August 2024, revealed that just 0.9% of EVs under five years old have been written off. This compares to 1.89% of petrol and diesel vehicles.
Meanwhile, in the one-year age category, just 0.2% of EVs have been written off compared to 0.4% of petrol and diesel vehicles.
These findings are completely contrary to the common misconception that electric vehicles are more likely to be written off than ICE models due to battery degeneration and high repair costs.
Cap hpi director Jon Clay said, “We work hard to provide an accurate picture of the automotive sector to the industry and consumers alike, from valuation data to provenance checks and trend analysis.
“The motor industry has to collectively address the wave of misinformation around EVs that is present online to enable consumers and fleet customers to make informed and well-balanced decisions about their next vehicle.”
