Aftermarket October 2022

OCTOBER 2022 AFTERMARKET 61 www.aftermarketonline.net ssociation ent A quipm ge E a e Gar Th 5 e 194 c ds sin dar y stan dustr s of In older e Uph d ! ar ation c ed it r or his ac f gin our e n y Ask eer c IS Y . Y ent A For peace of mind always use a Garage Equipm ssociation member. GEA accredited engineers work to an industry code of conduct our assurance their skills and knowledge have been independently assessed. OUR EQUIPMENT ENGINEER GEA ACCREDITED? Th .c www.gea o.uk xpDat GEA ACCREDITED ENGINEER Name Company Discipline E e IDNumber XX123456 XX123456 XX123456 XX123456 XX123456 Very few drivers will see the pump price indicator race towards three figures with anything other than dread and dismay.” However, there is more to consider than just the fuel versus charging dichotomy. While the average EV purchase price is £51,924, for ICE cars the average is £26,752: “Those fortunate enough to have the money for a new car might consider an EV on the basis of its relatively low running costs, but they should remember that the purchase price premium means they won’t earn back the higher cost for a long time.” Laura added: “Anyone looking for immediate savings to ease the stress on their wallet should look for other ways to cut the cost of motoring, from shopping around for a better insurance deal to ditching the heavy roof-rack.” Cost of running EV leads to increase in GAP and warranty cover Demand for GAP insurance and extended warranties for alternative fuel vehicles (AFVs) such as EVs is increasing every year, a study has found. Intelligent Motoring, which brings together the vehicle ownership solutions of MotorEasy, Warranty Assist, Motokiki and Motor Angel, has seen the number of requests for GAP insurance quotes rise by more than 10% since 2018. June 2022 alone saw a 3.2%, while there was an 86% increase in quotes across the first six months of 2022, compared with the same period in 2021. AFV extended warranty quotes now account for 5% of all quotes, up from 2018’s 2%. Repairs can cost up to 400% more for EVs than their combustion engine counterparts according to Intelligent Motoring’s data, drawn from MotorEasy GAP and Warranty quotes. The organisation cited the coolant pump repair for a BMW i3, which costs £2,293.99 at one of its approved garages, compared to around £400 at a franchise dealer for the equivalent part on a BMW 3 Series. CEO of Intelligent Motoring Duncan McClure Fisher commented: “Many AFV owners are unaware that the shortfall in technicians qualified to work on EVs, alongside the higher cost of EV parts, is pushing up the repair bill when things go wrong. This presents an income opportunity for retailers and garages who are EV- ready as they can help educate drivers on the value of both GAP and warranty cover for their AFV.” He added: “Not only could this save their customers considerable money in the longer-term but also build lasting customer relationships.” Report: Common repair standards required for EVs Common crash repair standards for EVs are going to be vital going forward, a new report looking at the impact on bodyshops and the insurance industry has suggested. The report from Trend Tracker; ‘Electric Vehicles (EV), What Happens When Things Go Wrong,’ puts forward the conclusions of a cross-industry group assembled by NBRA Chief Executive Chris Weeks and Kirsty McKno, Managing Director of Cogent Hire. Chris commented: “EVs/AFVs are not necessarily any more unsafe than ICE vehicles, but whereas the industry has had more than 100 years to develop experience and understanding of ICE, EV/AFV are relatively new. It should really be against the law to work on these vehicles without the required accreditation, methods, and skills. An EV is fine when you are driving it, but when it crashes it is dangerous goods.” Kirsty pointed out several organisations are looking into common standards for EV, including the ABI and Thatcham, but at present there is no united approach: “EVs may ignite up to four weeks post-accident, which means that having a consistent standard is vital to industry and consumer safety.” Electrified vehicles are the fastest growing segment within the vehicle parc. According to production figures from the SMMT, In April 26.4% of cars made in the UK were electrified, boosted by BEV output up 38.2%. Despite this, the group noted with concern how easy it was to set up a recovery business with no qualifications. The conclusion was that the industry needs better regulation. Other concerns highlighted included the provision of short-charges to broken-down EVs from recovery vans fitted with large batteries, as well as the conversion of existing ICE vehicles into EVs. There is little-to-no legislation to cover either area. Kirsty added: “Clearly the industry needs to invest in approvals, tooling, additional space requirements and technical skills. That means alternative fuelled vehicles will cost more to repair, but consumers will not want to pay more for insurance, particularly not in this cost of living crisis.” To view the report, go to: www.trendtracker.co.uk/electric- vehicles-what-happens-when-things- go-wrong www.aftermarketonline.net