Mitchell International’s Post

And some well qualified buyers I have spoken with, when faced with the EV-ICE decision in the past year chose ICE, effectively locking them in (for that one vehicle at least) for the foreseeable future. (They are the owners who buy and hold vice buy and upgrade or lease). The industry must make changes and the current favorable government policies seem to have come up far short. There are use cases for EV adoption, but could it be that personal vehicles was never one of them?

Read more about the "Plugged-In: EV Collision Insights" report in this Carrier Management article, which highlights Mitchell's latest claims data on electric, hybrid and ICE vehicles—demonstrating how differences in their complexity and construction affect claim costs and repair operations. When it comes to average claims severity, mild hybrids are comparable to ICE vehicles in the U.S., having 2% higher severity based on estimatics data from the first half of 2024. However, in Canada, they are 7.5% costlier to repair. Read more: https://bit.ly/3MouEkh

Interesting chart showing repair costs of *major components* in EVs. The big question: If the average person owns a vehicle for 8-years, how will these costs compare to an ICE vehicle? Check out the full EV report here: https://lnkd.in/gMkJpAHp (Data via CDG Partner: CNA National #cnanationalpartner)

Experts say that while gas-powered cars may have more parts that require maintenance, the cost of maintaining an EV, on a per-part basis, can be more expensive.

The popularity of electric vehicles has been steadily increasing as consumers and the automotive industry move away from standard internal combustion engines. With this rise, concerns around EV charging safety and parking structure precautions have also become more important. Check out our latest blog to learn more about the risks of EVs in parking structures: https://ow.ly/2WSw50TjhKN #ElectricVehicles #RiskManagement #AcentriaInsurance

Have you ever heard about this until now? More things the Whitehouse and Democrat are hiding in it's drive to force EV in our future. Are electric cars heavier than regular cars? An EV is, on average, about 30 percent heavier than its gasoline counterpart. That weight means less efficiency, longer stopping distances, more impact on collision, more road wear, and a lot of added components to accommodate the bulk.Aug 24, 2023 - weight damage to roads, imagine parking garage design changes too!

Experts say that while gas-powered cars may have more parts that require maintenance, the cost of maintaining an EV, on a per-part basis, can be more expensive. https://lnkd.in/gWftmDJ5

Experts say that while gas-powered cars may have more parts that require maintenance, the cost of maintaining an EV, on a per-part basis, can be more expensive. https://lnkd.in/ge9F_R-2

Can EV owners wait to May to buy RUCs? Find out below & how Bonnet can help keep track of another thing to pay for!

Why are consumers losing interest in EVs? Some data suggests that this is, in part, because EV value is depreciating. Mitchell's research shows that the price difference between EVs and internal combustion engine (ICE) vehicles is closing—the average transaction for a new EV was only about two thousand more than an ICE vehicle. According to Mitchell, this presents issues for consumers concerned with EV financial viability. Used EV prices have fallen 31.8% since last year, compared to a decrease of 3.6% in prices of used ICE vehicles. Read the Digital Insurance article, "Are consumers over the EV hype?" featuring highlights from Mitchell's latest Plugged-In: EV Collision Insights report ▶️ https://bit.ly/3Rmk7J6