Overview

• Used electric vehicle prices have fallen by up to 27% year-over-year, making them more accessible to budget-conscious buyers.
• The rapid depreciation of EVs is causing financial losses for owners who purchased their vehicles before the price drops.
• Experts attribute the price decline primarily to Tesla's aggressive pricing strategy, which has influenced the broader market.
• Insufficient public charging infrastructure is hindering the increase in EV sales, despite lower prices.
• Leasing rates for EVs are significantly higher than those for gas-powered cars, as owners seek to mitigate depreciation risks.