Reports of coming challenges for EV drivers are making the Christmas news cycle.
The transition away from traditional combustion engine vehicles is encountering a new challenge: reluctance among buyers to purchase used electric vehicles, thereby undermining the market for both new and pre-owned EVs.
In response to declining resale values, major buyers of new cars, including rental firms such as Sixt SE, are scaling back on EV adoption.
Secondhand EV prices experienced a significant decline, around one-third, in the year through October, compared to a mere 5% decline in the overall used car market.
In Germany, a key auto market, the slowdown in new EV orders is leading to a surplus of used models, impacting the secondhand market.
Handling secondhand EVs presents a unique challenge as there are no standardized tests to determine the quality of a battery, which constitutes around 30% of an EV's value.
Despite some EVs performing well in the secondhand market, consumer hesitation remains, and manufacturers are actively working on new technologies to address concerns.
https://americafirstreport.com/the-electric-vehicle-revolution-is-doa/
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