European drivers are facing a double blow as the global energy crisis continues to wreak havoc on the continent: not only are oil prices skyrocketing, but the cost of buying a second-hand electric vehicle (EV) is also on the rise. As Chinese automakers like BYD and Geely cash in on the trend, prices for previously owned EVs have surged by as much as 20% in some markets, leaving many potential buyers struggling to get behind the wheel of an affordable electric ride. With the European Union's ban on new internal combustion engine sales looming in 2035, the demand for used EVs is expected to increase, further driving up prices and fueling the profits of Chinese manufacturers. As the EV market continues to evolve, will consumers be priced out of the transition to sustainable transportation?
Rising Oil Prices Lead to Soaring Second - hand Electric Vehicle Prices in Europe, Chinese Automakers Reap Profits eu.36kr.com
