Why used EVs are the cheapest they've ever been

However, a notable trend has emerged — used electric vehicles are experiencing a steeper price decline compared to their traditional combustion engine counterparts. iSeeCars.com Executive Analyst Karl Brauer joins Wealth! tdo shed light on this divergence.

Brauer attributes the wider price gap to the"much stronger appetite" for EVs among new car buyers, driven by the many incentives. However, he highlights that these buyers are also"more value-focused," perceiving electric vehicles as"somewhat a demerit" due to the elevated costs associated with the vehicles. Consequently, the used car market has responded by offering more compelling pricing for EVs to facilitate their sale.

However,"I think there is a psychological element here too," Brauer tells Yahoo Finance, suggesting that consumers may be"apprehensive" about purchasing EVs, influenced by developments such as Hertz's -Australia's central bank debated whether to raise interest rates at a policy meeting on Tuesday given there were upside risks to inflation, but decided to stay the course in a sign the hurdles to a hike remained high.

HOUSTON -A U.S. judge on Monday dismissed a lawsuit Exxon Mobil had filed against activist group Arjuna Capital after the group had agreed not to pursue future proxy filings at the company's annual meetings. The lawsuit by the largest U.S. oil company had raised alarm among activists and public pension investors who argued it would muzzle debate among shareholders and public companies. U.S.

A U.S. judge said Tesla vehicle owners can pursue a proposed class action accusing billionaire Elon Musk's electric car company of monopolizing markets for repairs and parts, breathing new life into a lawsuit she dismissed last November. U.S. District Judge Trina Thompson in San Francisco ruled on Monday that owners could try to prove that Tesla coerced them into paying high prices and suffering long waits to have their vehicles fixed, under fear of losing warranty coverage.

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