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The original was posted on /r/worldnews by /u/Cubezzzzz on 2024-06-24 05:59:27+00:00.
Used-EV prices are crashing as buyers shift back towards hybrid vehicles
Submitted 2 years ago by bot@lemmit.online [bot] to worldnews@lemmit.online
https://www.businessinsider.com/used-electric-vehicles-price-crash-gas-cars-ev-demand-tesla-2024-6
autotldr@lemmings.world [bot] 2 years ago
This is the best summary I could come up with:
Consumers are pumping the brakes on electric-vehicle demand as technological limitations erase the premium buyers used to be willing to pay.
That slide is easy to explain for the broader auto industry, where improved post-pandemic supply chains have led to declining prices.
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.
If consumers don’t lead an industry embrace, US emissions regulation will ensure continued production, just at a tempered pace, Bank of America said.
The original article contains 561 words, the summary contains 143 words. Saved 75%. I’m a bot and I’m open source!