Gecko Risk – Electric Vehicle Data Insights – March 2025

Vehicles on the Road Data

 

 

 

 

There were 22,497 new BEV registrations in the UK for the month of February. Although this was the lowest number of new BEV registrations since August last year, this figure alone does not tell the full story. BEVs made up 25% of all new registrations for February in the UK, closing in on the ZEV target of 28% that has been set by the Government for car manufacturers in 2025.

 

Despite Elon Musk’s rhetoric creating a whirlwind of negative headlines in the media, Tesla has remained by far and away the most popular BEV by new registrations in the last 12 months and indeed in February 2025, having previously dropped out of the top 5 in January. Mini also moves into the top 5 for the first time in the last 12 months, with both Mercedes and Kia dropping out.

 

In respect to other vehicle types, there have 2,593 fully electric LCV new registrations so far in 2025 and almost 20,000 in the last 12 months. Peugeot, Ford and Volkswagen have been the most popular makes.

 

 

 

 

 

 

Repair Costs Data

 

 

 

 

BEV repair costs for February 2025 were an average of £3,343 in the UK. This is a drop of almost 5% since January, having previously been trending upwards month on month since September 2024. Its also down from last year where average repair costs was £3,471 in February 2024. This seems to be driven by both marginally lower ‘Parts’ and ‘Labour’ costs, whilst ‘Paint’ costs are higher than the same time last year.

 

 

 

 

Costs – Top 5 Manufacturers by New Registrations (last 12 months)

 

 

 

 

The biggest mover amongst the top 5 manufacturers was Mercedes, with their average repair costs hiking up by an average of almost £500 per repair. This brings them back up in line with Tesla, Audi and BMW, which now all have no more than 3.5% difference between them. As mentioned last month, Tesla continue to be the least volatile, whilst Volkswagen repair costs remain 15% lower than all of the other ‘Big 5’.

 

 

 

 

Clearly the residual values of the vehicles in our data need to be taken into account when examining average repair costs as write off thresholds will be lower for the less expensive makes and models . It is therefore not surprising that from the major manufacturers Porsche is amongst the most expensive to repair, whilst Fiat is one of the least expensive.

 

Average Repair Costs by Manufacturer – Last 3 Months

 

 

 

 

n.b. Repair Costs are inclusive of discounts, but excluding tax.

 

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