EVs are holding value better than expected – and it has a lot to do with Australia’s cost of living

AI Summary

Electric vehicles are retaining their value better than expected, with affordability helping sustain buyer interest in Australia. A sharp rise in fuel prices linked to the US-Israel war with Iran contributed to a bidding surge for 40 repaired BYD vehicles at auction.

The appeal of electric vehicles is financial as much as environmental for many drivers Sign up for climate and environment editor Adam Morton’s free Clear Air newsletter here The electric vehicles were splattered after a concrete spray incident, but repairable. Eager to recoup their costs, insurers sent the 40 BYD vehicles to an auction run by asset sales company Pickles in late March. With fuel prices soaring in response to the US and Israel war on Iran, a bidding frenzy erupted. Continue reading...