Another EV stumbling block? Electric car claims are 25% higher than petrols and battery damage means they’re often written off - which may push insurance premiums higher
New report says high battery costs makes EVs difficult - and expensive - to repair
It means damaged EVs are written-off as ‘uneconomical’ to return to the road
https://www.thisismoney.co.uk/money/electriccars/article-12263633/Electric-vehicles-claims-25-higher-petrol-cars.html
It found that electric cars are being written-off for having the slightest damage to battery packs following accidents because there is no way of repairing them.
It said insurance companies are increasingly being left with little to no choice but to permanently take the cars off the road after minor collisions, which in turn is pushing premiums on EVs higher.
The report warns of scratched and mildly damaged battery packs ‘piling up in scrapyards in some countries’.
And experts claimed batteries in expensive Tesla Y SUVs have ‘zero reparability’ because they are a structural part of the car.
________
Plummeting EV values is making write-offs more common
Write-offs are also becoming more common due to the increasing ‘depreciation curve’ of used electric cars, which have plummeted in value since the end of 2022 as a result of declining consumer demand.
This means the cost of a replacement battery is often more than the used price of the vehicle after only one year of it being on the road, the report said.
Case in point, I just traded in my 2022 Toyota corolla hybrid for a 2023 Chevy Silverado pick up. At nearly 3 times the cost. Yet my insurance payment went down $35 per month.
People are noticing. The socialists gov’t politicians are ignoring reality.
Volkswagen to cut electric car production in Germany due to ‘strong customer reluctance’ as demand for battery vehicles slumps
Car giant to scale-back production of EVs for six weeks at its Emden plant
Company execs said demand for its all-electric models is down 30% on forecasts
https://www.thisismoney.co.uk/money/electriccars/article-12250631/Volkswagen-cut-electric-car-production-Germany-demand-slumps.html
_____________________________________________
What drains an electric car battery most? From air-con to smartphone charging - how much range is wiped-out when using these nine common features
https://www.thisismoney.co.uk/money/electriccars/article-12097813/Common-features-drain-electric-car-battery-most.html
1. Air conditioning - wipes 7.5 miles of range per hour
2. Heater - wipes 5.7 miles of range per hour