more negative overtones about ev'sBecause most new vehicles in Europe are sold via leases, automakers and dealers who finance these transactions are trying to recover losses from plummeting valuations by raising borrowing costs. That’s hitting demand in some European markets that were in the vanguard of the shift away from fossil fuel-powered propulsion. Some of the biggest buyers of new cars, including rental firms, are cutting back on EV adoption because they’re losing money on resales, with Sixt SE dropping Tesla models from its fleet.
The problems are expected to intensify next year, when many of the 1.2 million EVs sold in Europe in 2021 will come off their three-year leasing contracts and enter the secondhand market. How companies tackle this problem will be key for their bottom lines.
“There isn’t used-car demand for EVs,” said Matt Harrison, Toyota Motor Corp.’s chief operating officer in Europe. “That’s really hurting the cost-of-ownership story.”
https://www.zerohedge.com/technology/ev-graveyard-reckoning-hardly-anyone-wants-buy-used-one?utm_source=&utm_medium=email&utm_campaign=2119
Wake Up Mr. President, Consumers Want Hybrids, Not EVs
https://mishtalk.com/economics/wake-up-mr-president-consumers-want-hybrids-not-evs/