During the second quarter of the year, average claims severity for repairable MHEVs (mild hybrid electric vehicles) was $4,726 in the United States and $5,302 in Canada, according to a Q2 2024 Plugged-In: EV Collision Insights report published by Mitchell.
“Although BEV (battery electric vehicle) sales have slowed in 2024, sales of mild and plug-in hybrid automobiles remain strong,” said Ryan Mandell, Mitchell’s director of claims performance, in a statement.
The company, a technology and information provider for the Property & Casualty (P&C) claims and Collision Repair industries, said in a news release that claims for internal combustion engine vehicles were $4,806 in the U.S. and $4,958 in Canada, a difference of $80 and $344, respectively.
Its report 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). It highlights how differences in vehicle type complexity and construction impact claim costs and repair operations.
“Like BEVs, these vehicles can be costlier to repair after a collision when compared to their internal combustion engine, or ICE, counterparts,” said Mandell in a statement. “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.”
The company also said the total loss frequency of BEVs along with 2021 and newer gasoline-powered vehicles, known to be comparable in their complexity and cost to repair, remains similar: 9.16% for BEVs in the U.S. versus 9.45% for ICE vehicles, and 7.24% versus 8.52% respectively in Canada.
