Electric vehicles are written off at less than half the rate of petrol and diesel vehicles, a new study from Cap HPI reveals.

Petrol and diesel cars are written off at over double the rate of fully electric vehicles

The analysis, which examines data from 2015 to August 2024, found 0.9% of EVs under five years old were written off, compared to 1.89% of petrol and diesel vehicles.

A similar gap remains at one-year-old, where the percentage falls to 0.2% for EVs and 0.4% for ICE.

It’s the latest research to challenge widely held misconceptions about electric vehicles after new analysis by Geotab found that EV batteries degenerate more slowly than internal combustion engine (ICE) drivetrain components.

Commenting on Cap HPI’s analysis, Jon Clay, identification director, said: “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.

Jon Clay, identification director at Cap HPI

“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 shows that there are 1.25 million fully electric vehicles (under five years old) on Britain’s roads, with 355k under one year old.

According to SMMT data, BEV registrations increased 10.8% in August compared to the same time last year and accounted for 22.6% of all new vehicles; up from 20.1% for the same month last year.

A Lords enquiry earlier this year warned that the Government must do more to counter misinformation on electric vehicles published in parts of the UK press.

Providing evidence to the Lords Climate Change Committee, Richard Bruce, director of transport decarbonisation at the Department for Transport, 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 papers almost every day. Sometimes there are many stories, almost all of which are based on misconceptions and mistruths, unfortunately.”