Warrantywise has launched a new warranty plan based on data sets specifically for electric vehicles (EVs). The new EV Plus warranty plan covers essential and often complex components such as the AC power inverter, DC to DC converter, power regeneration braking system, complete electrical system, and auxiliary and drive batteries.
This new plan addresses the 79% increase in reliability issues for EVs compared to petrol or diesel cars. It aims to boost consumer confidence in used EVs, which are now more affordable, with an average cost of just under £20,000. Used EVs are also about 8.5% cheaper than their internal combustion engine (ICE) counterparts after three years, with the price gap widening as the EVs age.
The new Warrantywise EV warranty is expected to be a game-changer for car dealers and trade buyers. It provides an attractive selling point that can help reassure and protect customers. By offering a robust warranty, including the option to add the drive battery, dealers can demonstrate their commitment to customer satisfaction and long-term vehicle dependability. This partnership with Warrantywise not only helps build trust but also drives sales and fosters loyalty.
“We understand that owning an electric vehicle can bring some reliability and cost-of-repair concerns, but there is help available,” said Antony Diggins, Managing Director of Warrantywise. “Our latest data highlights just how vital an EV warranty is and why we’re investing in a new plan for our customers. For example, we recently authorised a repair request for a Renault ZOE that cost £5,043 due to an electrical fault. High costs like these show why a robust extended warranty is essential to avoid financial strain and keep your vehicle running smoothly.
Our EV warranty is designed to ease these worries by including essential components. By offering this protection, we can help EV owners avoid unexpected repair costs and make their transition to electricity smoother and more secure. At Warrantywise, we support the entire used car market, not just petrol and diesel vehicles. We aim to safeguard our future sustainably and economically by protecting EVs, which are often more challenging to warranty once they become classified as ‘used’. This commitment to the used car market ensures our customers feel secure in their investment.
A recent report by Cox Automotive suggested that the year-to-date share of battery electric vehicles (BEVs) in April was just 15.7%, a 3% increase from the previous year. The slow growth highlights the need for a confidence boost within the automotive industry, indicating that government stakeholders must recognise that addressing the challenges faced by the sector requires more than legislative measures. With used EV prices continuing to fall, consumers have strong incentives to consider buying pre-owned EVs.
Warrantywise, with 24 years of industry experience, offers transparent, reliable warranty plans and consumer insights into the used car market. Edd China, a renowned TV presenter and master EV mechanic, ensures that every warranty meets the highest standards of quality and reliability. This wealth of experience and expertise should instil confidence in our potential customers and partners.
Warrantywise’s EV Plus package includes the drive battery as standard and covers mechanical and electrical parts with specified exceptions. Moreover, customers can customise their plans with EV warranty addition packages, empowering them to tailor their warranty to suit their needs. This flexibility ensures our customers feel in control and confident in their investment.
Explore Warrantywise’s enhanced EV warranty options, including its standard EV and optional EV Plus and EV warranty additions, and confidently drive into the future.
- For more information, visit www.warrantywise.co.uk. (On selection you will be directed away from Motoring Echo)
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