EV costs have been coming down, with the average price of a new electric model almost 10% lower than a year ago and used models down a whopping 32%. But new research shows that would-be buyers are more likely to be saddled with expensive EV repair costs, which remain well above maintenance expenses for gas—otherwise known as ICE (internal combustion engine)—cars.
A new report from auto insurance analytics company Mitchell shows that repairable EV insurance claims have increased by 40% since this time last year, following the trend of growth in the number of electric cars on the road—but average repair costs were 29% higher for EV owners than their ICE-owning counterparts, and the average repair took almost twice as long.
