electric vehicles: Used EV sales fail to take off: Why electric resale market lags
ETtech
Synopsis
Electric vehicles (EVs), including scooters, cars, and commercial vehicles, are surprisingly unpopular in the used vehicle market and often sell for less than similar fossil fuel-powered models, according to EV experts. One major reason is the challenge of precisely determining an EV’s remaining battery life. This is crucial because batteries can make up half the cost of a new EV, significantly impacting how much a used one is worth.
6 mins read,
Sales of new electric vehicles may be growing faster than the automotive industry, but in the second-hand market, it is a different story. EVs — from scooters to cars and commercial vehicles — have extremely low demand in the resale market and are often sold at prices that are cheaper than similar-sized vehicles powered by fossil fuels, according to experts on the electric vehicle segment. A key reason, they say, is difficulty in accurately
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