Recent data released by Epyx* shows that electric vehicle service and repair costs are starting to show cost savings compared to hybrid and internal combustion engine ICE vehicles.
Based on the sample of over 400,000 EVs on the platform, data showed that the average SMR spend on an EV was £141 compared to £195 for hybrids and £199 for ICE vehicles in the first year of operation. By year three this was £221 for EVs versus £341 for hybrids and £401for ICE vehicles.
In relation to the number of garage visits, the average for EVs after three years was 1.36 compared with 1.53 visits for hybrids and ICE vehicles.
Although these numbers are compelling, further data concerning wear and tear components – in particular tyres and brake pads – will be needed for a full comparison as the fleet of EVs grows older. SMR forecasting data projects an increased number of tyres and brake pads on older EVs due to the extra weight being carried with battery power as opposed to internal combustion engine vehicles. In addition costs relating to failing batteries is a big imponderable yet to be encountered.
SMR and AI
Earlier articles have debated the impact of AI on vehicle acquisition and re marketing. It will be interesting to see how AI affects service maintenance and repair management in the future also. Data is already available to forecast the likelihood of component failure on a particular vehicle over the next 12 months based on artificial intelligence being applied to a Make and Model’s MOT history. Fleet management software also has built in automated invoice approval for routine invoices but there is undoubtedly room for AI to streamline this management process further going forwards.
At Fleet Mobility Live I was interested to see how AI can alert fleet operators to vehicle issues before a fault code is triggered. This can also create substantial savings in operating costs by improving fuel efficiency and reducing vehicle downtime. The business behind the initiative is Intangibles, which has developed a system capable of reducing fuel use and maintenance costs by 10% with the number of breakdowns being reduced by 75%.
The system monitors data which is processed in the vehicles CAN bus in real time. This is used to create an accurate model of current vehicle health and raise alerts to the fleet manager with recommendations to address the area of concern.
Ian Hare, Managing Director, Motor Management
