As prices top $4 a gallon, should you consider an electric vehicle? One consideration: They’re more expensive to insure and repair. Here’s why.

Not only are electric-vehicle sticker prices higher on average than comparable cars and SUVs with traditional internal-combustion engines (ICE), the cost to insure an EV outruns its gasoline-guzzling cousins.

Is that because it’s challenging a 100-year-old auto market, and an even older insurance industry with specialized technology? Or because it’s the Roadster, whose speedometer tops out at 250 miles per hour?

The answer is, well, both.

That’s because insurance premiums are built on damage and repair histories, which for EVs is small, yet expanding. EVs are, in many ways, more simply built, with less components, than traditional cars.

But the experts allocated to fix them are still getting up to speed. And parts —semiconductor chips, for starters — can be hard to source, or are subject to trade conditions, even before COVID-19 supply-chain issues disrupted the flow of goods.

“There’s a lack of data or experience with insuring and

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Cars Adds Digital Vehicle Acquisition

Online automotive marketplace Inc. has finalized its acquisition of the Accu-Trade Group, which was announced last month, bringing real-time, VIN-specific appraisal and valuation data, instant guaranteed offer capabilities and logistics technology to the platform.

Cars paid $65 million to complete the transaction and might have to make future payments of $63 million, an amount that will be adjusted based on performance in the next three years.

“The acquisition of Accu-Trade appraisal technology facilitates our entry into the rapidly growing multi-billion digital vehicle acquisition market,” Cars CEO Alex Vetter said in a Tuesday (March 1) press release.

“The acquisition of this scalable technology further advances our platform strategy and accelerates our end-to-end capabilities, while building on our competitive advantages and delivering additional shareholder value,” he said.

The company will soon offer sell-it-yourself capabilities, allowing the almost 11 million annual private-party car sellers in the U.S. the option to sell

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E.C.D. Automotive Design | Vehicle Restoration

Craftsmanship is a universal language, and a massive component of the aftermarket automotive industry. Whether that’s restoring your grandfather’s pickup or building out a modern hot rod from the ground up, we’re here to see it. That’s why we recently flew down to Kissimmee, Florida, to visit E.C.D. Automotive Design, a small but mighty shop that transforms classic Land Rovers into eclectic vehicles with modern components underneath.

Now, vehicle restoration and customization are divisive topics. While classic car enthusiasts may cry foul and wax poetic about the rides of yesteryear, we take modern automotive technology for granted. Purists often fail to mention that many of their old rigs are actually not the nicest to drive. That’s where a shop like E.C.D. comes in: applying its resto-mod approach to classic Land Rovers, allowing you (for a not insignificant amount of cash) to enjoy the timeless aesthetics without the pitfalls associated with

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The most common excuses for not buying an electric vehicle are mostly unfounded

As more Americans consider an electric car, many shoppers still have questions and concerns — some of which are actually outdated or unfounded.

This year will see the release of more electric cars — and even pickup trucks — prompting 27% of likely shoppers to say they would consider buying an electric car in the next four years, according to a study by J.D. Power. And the popularity of EVs continues to rise. While auto sales were down 21% year over year in the final quarter of 2021, mostly due to parts shortages, sales of electric vehicles rose 72%, according to Kelley Blue Book analysts.

Despite a surge in popularity and improved capability, the common objections to buying an EV continue to be “all the usual suspects,” says Stewart Stropp, senior director of automotive retail at J.D. Power.

What are the most common objections to buying an electric car?
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