Real-world data highlights significant gap in EV service and repair revenue potential

Electric vehicles (EVs) offer considerable savings in service, maintenance, and repair (SMR) costs when compared to internal combustion engine (ICE) counterparts.

Latest real-world data from epyx whose 1link platform helps improve the efficiency of major fleets who parc totals more than four million vehicles, shows clear advantages in both the cost of service, maintenance and repair (SMR) and the frequency of garage visits for EVs.

In the first year of operation, the average SMR cost for an EV was just £141, compared to £195 for hybrids and £199 for ICE vehicles.

By the second year, these costs increased slightly to £174 for EVs, £266 for hybrids, and £290 for ICE vehicles, with the gap widening even more in the third year.

Notably, by the end of year three, the SMR costs for ICE vehicles were 81% higher at £401, compared to just £221 for EVs and £341 for hybrids.