As the excitement of the Euros captivated fans across Europe, and we get ready for another exciting season in the football league, another competition is playing out on the roads: electric vehicles (EVs) versus internal combustion engine (ICE) vehicles.
Fleet managers and drivers are keenly watching the duel between EVs and ICE vehicles, particularly when it comes to repair costs. And much like footballers need to manage their fitness and injuries, vehicle owners need to consider the maintenance and repair costs of their cars.
So let’s dive into this showdown and see how the two contenders compare.
The Kick-Off: Initial Costs
Just like a football team’s budget influences their performance, the initial costs of purchasing or leasing a vehicle set the stage for the overall expense journey.
Traditionally, EVs have higher upfront costs compared to their ICE counterparts, however, this is often offset by lower fuel and maintenance costs, much like investing in a star player can lead to long-term gains for a club.
First Half: Fuel and Charging Costs
In the first half, we look at fuel and charging costs. ICE vehicles, powered by petrol or diesel, have historically been more expensive to run due to fluctuating fuel prices. EVs have initially offered significant savings, although the soaring cost of electricity has narrowed this gap, much like a sudden injury to a key player can level the playing field in a match.
Halftime Analysis: Service, Maintenance and Repair (SMR) Costs
As we reach halftime, it’s crucial to analyse the SMR costs, which can make or break the long-term viability of a vehicle, much like a team’s strategy can determine their success in the tournament.
Much like a team with fewer injuries, EVs have fewer mechanical parts, leading to lower chances of breakdowns and less routine maintenance.
According to managing director of Fleet Assist, Vincent St Claire, ‘all indicators are strong that SMR for BEVs (battery electric vehicles) will continue to be less than that for ICE vehicles’ – something which has been a significant advantage for EVs, akin to a football team having a robust defense that minimises the opponent’s scoring opportunities.
Equally, as more data becomes available with the increasing number of EVs on the road, the picture becomes more nuanced, as highlighted when Fleet Assist reported a 73% increase in BEV SMR jobs in 2022.
They also recoded that the average cost of BEV SMR was £171, 40% lower than that of ICE and hybrid vehicles (£243), but the average age of ICE vehicles was three-and-a-half years older, suggesting that older ICE vehicles might incur higher repair costs.
Second Half: Component Wear and Tear
In the same way player stamina affects their performance in the latter stages of a match, component wear and tear is a crucial factor in repair costs.
EVs tend to have lower wear and tear on components such as brake pads, oil filters and spark plugs, simply because they lack many of these parts, and in actual fact, the most commonly replaced components in EVs are pollen filters, bulbs, key fob batteries, wipers and brake fluid.
Tyres also play a significant role in this match-up, and conventional wisdom suggests that tyre costs for EVs would be higher due to their extra weight and high torque.
Latest data from Rivus supports this, stating that tyre costs are 15% greater for fully electric vans compared to ICE counterparts. However, EV-specific tyres, which are designed to withstand increased weight and torque, tend to last longer, much like a well-trained athlete can endure the pressures of a high-stakes match.
Injury Time: Accident Repairs
In the closing minutes, accident repair costs are akin to the injury time added on at the end of a match.
Here, Rivus found that repairing a fully electric car after a collision is around 25% more expensive than repairing an ICE equivalent, and for light commercial vehicles (LCVs), this figure rises further to 55%.
The data then goes on to explain that these higher costs are partly due to the complex technology and expensive batteries in EVs, in the same way star players require more expensive treatment for injuries.
Extra Time: Industry Challenges
Similar to how footballers must adapt to unexpected circumstances in a match, addressing industry challenges is a big issue that takes preparation.
For example,the SMR industry faces a critical shortage of trained mechanics qualified to work on EVs, with the Institute of the Motoring Industry (IMI) warning that only 11% of UK technicians are currently qualified to work safely on EVs.
This shortage could drive up service costs and limit the availability of maintenance services, much like a team struggling without enough substitutes.
The Final Whistle
It’s clear that both EVs and ICE vehicles have their pros and cons when it comes to repair costs.
EVs generally offer lower SMR costs and fewer mechanical issues, much like a football team with fewer injuries and a strong defense, whilst higher repair costs for accidents and a looming skills shortage present challenges, mirroring the unpredictability of injury time in a football match.
In the end, whether you’re a fleet manager or a football fan, understanding these nuances can help you make informed decisions. Just as every pass, tackle and goal counts in the Euros, every component and cost matters in the ongoing battle between EVs and ICE vehicles.
And whilst every team in the Euros strives for excellence on the field, we strive for reliability and efficiency in our services, making our system a highly dependable tool for any claims department.
Join the winning team with GT Motive and experience the unparalleled service that keeps you moving forward, no matter the challenge.
Request your free GT Motive trial today to find out more.