By Jo Nova

The cost problem is solved (for all the wrong reasons), but it’s still not enough

Around the world, governments are trying to force people to buy electric vehicles because they are nice people who are worried about polar bears. And since drivers out there all believe in climate change, according to all the pollsters, it shouldn’t be a big ask. (Who wouldn’t want to save the Earth?)

Supposedly, just 10 years from now, they told us, we wouldn’t be able to buy a new combustion engine car at all. Instead, not only are sales of new EV slowing rapidly, to the point where there is a glut, but as prices fall for used cars customers are not rushing out to pick up the cheaper second hand EVs either.

Look at how fast the turnaround in this market has been in the last year — a 25% price premium– gone:

Used EVs are now selling for thousands of dollars less, on average, than comparable gas-powered vehicles.

Kaya Ginsky, CNBC

The difference between the price of a used Tesla Model 3 and BMW 3 Series shows how a “premium” associated with EVs in the […]