Vehicle pricing was a major concern during the inflationary environment that dominated headlines in 2022, however a new report shows sales of electric vehicles in California rose by more than 50% last year from 2021 with an estimated increase in market share of 17.1%.
That’s good for EV makers and dealers, and it looks good for the environment, but insurers doing business in California may be eyeing the bottom-line implications.
One major insurer in California reports EVs are more costly to repair, while the carrier’s share of customers with EVs has increased over time.
