Posted 2/21/2024, 1:48:54 PM
Plunging Electric Car Resale Values Create Turmoil for Leasing Firms and Corporate Fleets
- Plummeting residual values of EVs are causing problems for leasing companies who based lease rates on higher predicted values
- EV buyers are worried about losing more money than expected when trading in down the road
- Leasing giant Ayvens has started receiving compensation from automakers for lower-than-expected EV values
- Corporations may turn away from offering EVs to employees without reassurance of buyback programs to protect values
- Rental car companies like Hertz and Sixt are scaling back EV offerings due to uncertain values, especially for Tesla