Automotive industry experts review scrapping data
Despite the myths around the long term life of EV's that continue, and industry fears, there is no evidence to suggest that EV cars are being scrapped at a higher rate than equivalent ICE vehicles according to the data from market data experts Cap HPI.
Despite higher repair costs related to the electric drive train, electric cars are being written off at half the rate of their petrol and diesel equivalents. This review of the data came from demands of the automotive industry as a whole to review the rates at which the various vehicles were being scrapped.
When looking at purely EV to ICE vehicles at 5 years old or newer, of the 1,130,581 EV's registered, only 1,433 had been written off or scrapped. This compares to 10,278,745 ICE vehicles registered in that time, with 33,700 being scrapped. Moving Hybrid vehicles to reflect their electric elements of the drivetrain doesn't significantly change the end result at this 5 year stage.
Jonathan Clay, Cap HPI identification director, commented: “It’s essential that the industry has an accurate picture of emerging trends as the EV market continues to develop. With repair costs for EVs running up to 29% higher than ICE vehicles, according to a Solera study, it’s important to understand the impact on scrappage rates.”
From a consumer and market point of view, this data helps put aside the myth that persists of current EV's having a limited lifespan, and that overall, the market for these vehicles will continue to grow as more of the cars being registered make it to 2nd and 3rd owners. With as high as 35% of dealers reporting that consumers being concerned that used EV would have a degraded battery.
The importance of a home charger grows with this used EV market place. Where the 1st owner of a new car is likely to have an offer at point of sale for the manufacturers choice of charger, as a 2nd or 3rd owner, you will need a charger that can provide the power needed to drive your vehicle. In a recent study, over 50% of dealers came up against the objection of not having an EV charger at home being a barrier to entry to Zero Emissions motoring. To find out more about the Lemac Chargers and how we can help charge your new or used EV, get in touch.
