News
The Value Of Chinese Used Cars In Europe Is Falling Dramatically
The value of Chinese electric cars is falling twice as fast as the average used electric car market in Europe.
According to DAT, Germany’s leading car appraisal organization, the residual values of Chinese electric cars and plug-in hybrids fell twice as much as the overall market decline.
Martin Weiss, head of valuations at DAT, warns that a good car is not enough: spare parts, a dealer network and service must also be available if drivers are to have confidence in used electric cars. And that’s where the Chinese lag behind.
There is another serious reason for the drop in prices. DAT’s survey shows that half of all Germans believe that several Chinese brands could become a thing of the past in Europe within just 5 years.
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