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What insurers pay to repair EVs

Although electric vehicles in Canada cost an average of $1,328 more to repair than vehicles with internal combustion engines (ICE), EVs are less likely to be written off as a total loss, says a Mitchell report.

The cost of the average EV repair in Canada increased from about $5,500 in 2020 Q1 to about $6,000 in 2023 Q2, peaking at just under $7,000 last quarter, says the report, Plugged-In: EV Collision Insights Q2 2023.

But EV repair severity increases for Tesla vehicles, which cost an average of $1,600 more to repair than ICE vehicles. The average cost of repairing a Tesla EV peaked at more than $7,000 in the first quarter of this year, and has fallen to roughly $6,000 in the second quarter.

Tesla, the largest EV manufacturer in the world, has more or less cornered the EV market share in Canada, producing 70.67% of EV cars sold in the country – up from 67.87% in the first…

Read more at www.canadianunderwriter.ca

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