Research shows that the service cost of electric vehicles is much lower than that of cars with internal combustion engines.

Published: Nov 3, 2021 15:25
[research shows that the service cost of electric vehicles is much lower than that of internal combustion vehicles] according to foreign media reports, the latest data show that in the first year after buying electric vehicles, the service cost of electric vehicles may be higher than that of internal combustion engine vehicles, but in the long run, the average service cost of electric vehicles is much lower. According to data released by We Predict, the average American electric car owner spends $123 on service in the first three months and $306 in the first year. By comparison, the average service cost of a new internal combustion engine car was $53 in the first three months and $189 in the first year.

According to foreign media reports, the latest data show that in the first year after the purchase of electric vehicles, the service cost of electric vehicles may be higher than that of internal combustion vehicles, but in the long run, the average service cost of electric vehicles is much lower.

According to data released by We Predict, the average American electric car owner spends $123 on service in the first three months and $306 in the first year. By comparison, the average service cost of a new internal combustion engine car was $53 in the first three months and $189 in the first year. However, over time, the service cost of electric vehicles will also become cheaper, with an average cost of $514 in the first 36 months, compared with $749 for internal combustion cars.

We Predict's research shows that the gap between the two is mainly due to lower maintenance costs for electric vehicles. For electric car owners, they spent only $77 on maintenance in the first three years, compared with an average of $228 for fuel-fueled cars.

The agency studied more than 13 million vehicles in 400 models, and the results were based on 65 million service and maintenance orders, including more than $7.7 billion for spare parts and more than $9.5 billion for labor. James Davies, chief executive of We Predict, said: "the data show that electric vehicles have lower maintenance costs and significantly lower costs of maintaining motors in the medium to long term and fewer major maintenance problems than internal combustion vehicles."

The study also shows that the cost of vehicle maintenance is increasing at present. The results show that the average maintenance cost of the 2018 models in the first three years was $731, 11% higher than that of the 2016 models. The results also showed that vehicle maintenance costs increased by 4%, maintenance costs increased by 11%, and the cost of service activities increased by 35%.

"at present, the average labor cost of electric vehicles may be two to three times higher than that of internal combustion vehicles, because they take longer to identify the problem and then solve it," Davies said. But once technicians figure out these problems and share the information with other technicians, labor costs will fall. "

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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