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Thomas Schäfer, the chief executive of Volkswagen, has described the market for small electric cars as the “Champions League” of automobile manufacturing as he and his colleagues wrestle with the increasingly energetic challenge from China. “If you are going to win,” he said, “you have to make money on it – and that’s the difficult bit.”
The value of second-hand EVs have taken a battering as a result of falling demand, increasing supply entering the market and more appealing deals on brand-new electric models. These are the 30 worst hit.
With consumer demand for EVs waning, the average combined cash and finance discount on a new battery-powered car has grown to a whopping £4,399 in the last 12 months, a study found.