Mitchell, a technology and information provider for the Property & Casualty claims and Collision Repair industries, published its Q2 2024 Plugged-In: EV Collision Insights report.
This edition features the latest U.S. and Canadian claims data on battery electric vehicles (BEVs), mild hybrid electric vehicles (MHEVs) and plug-in hybrid electric vehicles (PHEVs) — highlighting how differences in their complexity and construction are affecting claim costs and repair operations.
“Although BEV sales have slowed in 2024, sales of mild and plug-in hybrid automobiles remain strong,” said Ryan Mandell, Mitchell’s director of claims performance. “Like BEVs, these vehicles can be costlier to repair after a collision when compared to their internal combustion engine, or ICE, counterparts. However, with both an ICE and small electric battery, mild hybrids are remarkably similar to gasoline-only powered automobiles when it comes to claims severity.”
In Q2 2024, average claims severity for repairable MHEVs was $4,726 in the U.S. For vehicles with an ICE, it was $4,806 in the U.S., a difference of $80 and $344, respectively. Since PHEVs rely on a larger, high-voltage battery in addition to a secondary ICE, their average severity is more closely aligned to BEVs at $5,059 versus $5,753 in the U.S.
Other notable findings in this quarter’s report include: