European electric car sales growth is expected to decline due to rising insurance costs and expiring subsidies. Additionally, concerns over out-of-control MG EVs are causing potential buyers to hesitate. These issues are challenging some of the optimistic claims made about the electric car revolution. Experts predicted that prices would decrease rapidly, making battery electric vehicles (BEVs) more affordable for average earners. However, the reality is that most BEVs start at around €30,000 after tax, which is double the price of comparable combustion vehicles.
Contrary to popular belief, insurance for electric cars is actually more expensive due to the costly and hard-to-find parts they require. The larger market for combustion engine vehicle parts brings their prices down. Additionally, there are fewer mechanics who specialize in BEVs, so repair costs can be higher. The perception that BEVs have fewer moving parts and are less prone to issues is not substantiated by data. In fact, the failure rate is similar, and the increased weight of BEVs puts more strain on suspension and braking components.
In terms of sales, BEVs have experienced a boom in Western Europe this year. However, a significant portion of this growth was driven by government subsidies that expired in September. As a result, experts predict a sharp decline in the last third of the year. Despite this temporary setback, the long-term forecast remains positive, with projected sales of 2.7 million BEVs in 2025 and 9.2 million in 2030.
One notable concern regarding BEV adoption is the rising cost of insurance. Insurance companies are grappling with the expense of replacing batteries, which can account for up to half the purchase price of a car. The vulnerability of batteries to damage and their sensitivity contribute to higher insurance rates. Moreover, there is a lack of affordable and available repair solutions and post-accident diagnostics for BEVs, which poses challenges for repair capacity and training in the industry.
The weight and potential fire risks associated with BEVs also impact insurance costs. Repairers require expensive equipment to handle these issues, further driving up the overall cost. In light of these challenges, extensive research is being conducted to address the specific risks and repair needs of BEVs.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
