Poor resale values of EVs threaten adoption, warn some experts
Publishing timestamp: 2024-04-04 20:15:59
Summary
Study shows that average price of EVs has fallen significantly in the past year compared to internal combustion engine vehicles, leading to concerns about depreciation rates and potential impact on wider adoption. Industry experts and analysts are wary of investing in EVs due to their inability to retain value, with concerns about outdated technology and compatibility issues. The depreciation of EVs is attributed to aggressive price cuts by Tesla and overproduction relative to demand. On the other hand, hybrids are seen as a potential alternative with less depreciation and increasing popularity.
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Keywords: u.s. economy, autos, technology, tesla inc, elon musk, volkswagen ag, toyota motor corp, electric vehicles, breaking news: business, transportation, business news, business, breaking news: technology,