EVs Are Losing Half Their Value In Just Three Years

1st Gear: Depreciation Is Hurting Used EVs Electric vehicles are starting to make a real splash on the used-car market, but EVs are having a much harder time holding their value than internal-combustion-powered vehicles. EVs have more than doubled their presence on the wholesale market in the past couple of years it's still a small sliver at just 1.7 percent of the market. That's down 70 percent from just a year ago, but it is up 33 percent from October 2019, probably because those early EVs were sort of terrible. Chinese rival BYD, with its Dynasty and Ocean series of EVs and petrol-electric hybrid models, saw passenger vehicle deliveries set another record at 301,378 vehicles in November, up 0.09% from October and 31% from a year earlier. The boards of both airlines have agreed on the deal, which is expected to close within the next year and a half. Continental, whose market value has shrunk some 40% in the past five years, is among German industry stalwarts facing a wrenching transition to a cleaner economy. Additional measures announced Monday include shrinking the number of the auto unit's 82 research sites to help cut the businesses' R&D expenses to 11% of sales in two to three years and less than 10% in three to five years, from an expected 12% this year.