Jeff Gritchen | Medianews Group | Getty ImagesA car loses value as soon as you drive it off the lot, but electric vehicles are taking this adage to a new level.
That's becoming a major barrier to wider adoption, according to some industry and investment experts.
While lower used EV prices could increase their desirability to some buyers, they can also reduce demand for new electric vehicles, according to Karl Brauer, executive analyst at iSeeCars.
Kuo further argued that the software and computing capabilities of used EVs may become outdated and incompatible with updates by the time they are sold or even beforehand.
According to iSeeCars, dramatic drops in used electric vehicle values in the U.S. have largely been driven by aggressive price cuts by Tesla amid a broader price war in the EV market.
Persons:
Jeff Gritchen, Karl Brauer, David Kuo, Kuo, EVs, iSeeCars, Tesla
Organizations:
Medianews, Getty, iSeeCars.com, Smart, Industry, Bloomberg, VW, Toyota
Locations:
Fountain Valley , California, U.S