Mitchell, an Enlyte company and technology and information provider for the Property & Casualty (P&C) claims and Collision Repair industries, announced the availability of its latest trends publication: Plugged-In: EV Collision Insights. The new quarterly report provides auto insurance and collision repair executives with up-to-date information on electric vehicle claims and market data.
In 2022, EV sales hit a tipping point, representing 5.6% of all new vehicles sold according to Kelley Blue Book. As consumer adoption increases, vehicle manufacturers including Audi, GM and Volvo are pledging to go all-electric in the future — putting more of these automobiles on the road and, potentially, in a collision repair shop, Mitchell says.
“EVs introduce some unique challenges to both insurers and repairers,” said Ryan Mandell, director of claims performance at Mitchell. “Their more complex, interconnected electronic systems and reliance on lightweight materials can complicate the repair process and increase claims costs. With the release of our new report, we hope to provide the industry with the information it needs to prepare for this growing segment of the car parc and the impact it will have on auto insurance claims.”
Mitchell adds that based on data from Q4 2022, the inaugural issue of Plugged-In: EV Collision Insights documents an increase in the:
- Number of EV repairable claims of 1.1% in the U.S. and 2.26% in Canada;
- Average percentage of EV parts repaired, suggesting that collision facilities may be improving their ability to repair the lighter weight substrates that are common in these automobiles;
- Average number of mechanical hours on EV estimates of 1.7 as compared to labor time listed on collision damage appraisals for vehicles with internal combustion engines.
The report also features current claims data on EV average repairable severity, repairable claims frequency by market, and frequency by vehicle manufacturer and model, according to Mitchell.
For more information, visit www.mitchell.com/plugged-in.