Posted 2/21/2024, 10:42:00 AM
Tesla Discounts Shake Up EV Market, Causing Ripple Effects Across Auto Industry
- Carmakers compensating leasing firms due to plunging used EV prices caused by Tesla's discounts
- Leasing companies demanding buyback agreements from automakers to protect against further used EV value drops
- Corporate fleet vehicles popular in Europe, needing more EV sales to meet tightening emission rules
- Without stable used EV pricing, Europe's 2035 combustion engine phase-out target looks uncertain
- SAP and rental companies dropping Teslas due to unpredictable pricing complicating planning