Electric vehicles ‘written off less’ than ICE vehicles

Internal combustion engine (ICE) cars are written off at more than double the rate of electric vehicles (EVs), according to new research Cap HPI.

The study, which examines data from 2015 to August 2024, found 0.9% of EVs under five years old have been written off, compared to 1.89% of petrol and diesel vehicles.
A similar gap remains at one year old, where the percentage falls to 0.2% for EVs and 0.4% for ICE.

Jon Clay, identification director at Cap HPI, said: “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 shows that there are 1.25 million fully electric vehicles (under five years old) on Britain’s roads, with 355,000 under one-year-old.

The Government has recognised the need to address misinformation around EVs.

Last year, Richard Bruce, director of transport decarbonisation at the Department for Transport (DfT), said: “I do think there has been an impact from a concerted campaign of misinformation over the last 14 months or so that has been pushing consistent myths about EVs that people absorb and which is reflected in their appetite (for purchasing EVs).

“There is an anti-EV story in the papers almost every day. Sometimes there are many stories, almost all of which are based on misconceptions and mistruths, unfortunately.”

Clay said: “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.”

According to SMMT data, BEV registrations increased 10.8% in August compared to the same time last year and accounted for 22.6% of all new vehicles.