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Used-EV Prices Crashing, Cheaper Than Gas Cars Amid Shift Back to Hybrid
Prices for used EVs are tumbling far faster than their gas counterparts as buyers sour on range and battery limits.
For industry players that wagered on a coming wave of EV consumption, faltering demand has not done any favors for production, Bank of America said this month. The prior acceleration in EV launches is doing a U-turn in favor of extending [internal combustion engine] programs and new hybrids," analysts wrote. For instance, below-estimate deliveries have dented the performance of Tesla and Rivian stocks, and these companies have been among many to enact workforce cuts due to strained demand.
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