Electric vehicles (EVs) are written off at half the rate of internal combustion engine (ICE) cars according to a recent study by Cap HPI.
Drawing on data from 2015 to 2024, the research found that 1.89% of petrol and diesel vehicles under five years old have been written off, compared to just 0.9% of EVs.
For ICE cars under one year old, the figure stands at 0.4% and this drops to 0.2% for EVs.
Speaking on the study, Identification director at Cap HPI, Jon Clay said: “The study challenges one of the many misconceptions about electric vehicles.”
Tackling misinformation about EVs has been recognised by the Government as a necessary action.
Director of transport decarbonisation at the Department of Transport (DfT), Richard Bruce 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 paper almost every day. Sometimes there are many stories, almost all of which are based on misconceptions and mistruths, unfortunately.”
Clay added that the motor industry also had a role to play in “collectively address[ing] the wave of misinformation around EVs that is present online.” He added that this would “enable consumers and fleet customers to make informed and well-balanced decisions about their next vehicle.”
Despite the many myths around EVs, a promising 22.6% of all new vehicles were battery electric vehicles (BEV) in August.
