The 2024 Arval Mobility Observatory Fleet & Mobility Barometer* report shows that 25% of fleets believe that EVs are cheaper for servicing and have less downtime than ICE cars and vans. Additionally, 57% say EVs are better for mechanical repair, but tyre wear between EVs and ICE vehicles is perceived as being similar.
It is important to say that this survey is based on impressions rather than actual servicing and repair data. There are not many fleets which have yet operated through one complete replacement cycle for EVs; so real on the road data is not yet available.
Service maintenance and repair forecasting data is however available and is independently compiled by data companies utilising manufacturers data and their own forecasting expertise. This data tends to indicate that, although servicing costs are lower, brake pad and tyre wear is higher for BEVs due to the extra weight of the battery compared to an ICE engine.
Servicing data is of course just one component in the total operating cost of vehicle. Current concerns about remarketing EVs due to the lack of private buyers combined with the higher initial capital cost of an EV compared to its petrol or diesel equivalent means that depreciation is notably higher for EVs. Data provided by AutoVista shows that a three-year old 60,000mile vehicle retains only 37.8% of its value compared to its price when new compared to 52.5% for an ICE vehicle. A vehicle’s whole life cost including depreciation as well as SMR and fuel cost needs to be considered when comparing EVs with petrol and diesel vehicles as well as hybrid vehicles.
Author: Ian Hare, Managing Director of Motor Management
*https://www.elementarval.com/mobility-and-fleet-barometer-2024/
