Second-hand EV values lag petrol cars despite emissions targets

The Albanese government must provide more incentives for electric vehicle uptake to meet ambitious emissions reduction targets, say car industry analysts and lobby groups, who warn that lagging second-hand EV values are threatening buyer confidence.

Despite many EV models now matching petrol or diesel-powered models on price, market analysis by Cox Automotive, the owner of car auction house Manheim, reveals EVs may only hold between 55 and 60 per cent of their original value after three to four years on the road, compared to between 75 and 80 per cent for standard vehicles.

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