New cap hpi study debunks myths around EV write offs
A new study by automotive data experts at cap hpi has revealed that petrol and diesel cars are written off at twice the rate of fully electric vehicles.
The study analysed data from 2015 to August 2024.
It revealed that just 0.9% of electric vehicles under five years old have been written off compared to 1.89% of petrol and diesel vehicles. The ratio is similar in the one-year-old bracket, where 0.2% of EVs are written off compared to 0.4% of petrol and diesel vehicles.
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. 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.”
The analysis found that there are now 1.25 million fully electric vehicles under five years old on Britain’s roads, with 355,000 of them under a year old.
