Automotive Industry Grapples with Plummeting Resale Values of EVs

Shares in names like VW, Mercedes and Stellantis were lower this week, heading into Wednesday's session, after news of 'falling demand' in Europe. In the first quarter of this year, Europe's top two car manufacturers faced a downturn due to diminished demand in China and domestic markets, Financial Times reported on Tuesday this week. Volkswagen Group saw a significant decline in profits, dropping by a fifth from the previous year to €4.

worried about the Cars operations,' the report notes. Meanwhile, Jefferies said it was a “downbeat start” to the year for VW. As we have been pointing out on Zero Hedge, the automotive industry, previously buoyed by supply chain disruptions driving up prices, is now grappling with challenges stemming from plummeting resale values of electric vehicles. The EV industry, especially in China, is winning by going smaller, we noted last week.

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