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In a ‘bone-headed’ move, the UK to roll back gas car phase-out and other net zero policies (electrek.co)

submitted 11 months ago by NewsPosterBot to c/[email protected]

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[–] [email protected] 1 points 11 months ago

Nobody's banning the sale of secondhand ICE cars, they would have still been sold as new up to the end of 29, so there would be a good supply of used cars for more than a decade post that.

Second hand EV prices have been returning to more normal prices in the UK, and I would expect that downward trend to continue as we see greater availability on the secondhand market. Cars that were 10k last year can be had for almost half that this year.

Finance in the UK of new (and nearly new) cars is heavily dependent on lease style agreements with the total cost massively offset by future value (thus EVs had been fantastic value new on finance) and the liability held by the car finance company. At the moment they had been trying to hold used prices to offset that liability, it hasn't been working very well with dealers left with cars they can't sell without losing big time.