EV claims up 370%

New research by MotorEasy has revealed a 370% increase in electric vehicle warranty claims over the past three years.

While this is partly down to the number of EVs MotorEasy now has on its books, it is also attributable to an ageing EV fleet with more problems starting to emerge.

Alongside the increasing volume of repairs, the average cost of an EV warranty claim has also shown a significant uptick. For example, in 2021, the average claim across the MG EV range was £430 and in 2023 it is £2,200, a 390% uplift. A similar trend can also be seen with Tesla, with the cost of claims rising 231% since 2021.

Duncan McClure Fisher, CEO of MotorEasy’s parent company Intelligent Motoring, said: “While there remains a perception that EVs have fewer moving parts and less can go wrong with them, in reality we’re seeing an equivalent mix of failures to petrol and diesel vehicles.

“Despite the drivetrain components being obviously very different, the suspension and braking components are often very similar, and are put under greater strain due to the increased weight of EVs. This creates a similar breadth of failures for EVs versus ICE vehicles, though a slight swing from drivetrain issues to suspension and braking issues can be observed.”