Expensive e-waste…
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– Porsche Taycan’s Values Plunge; Mercedes, Stellantis Pause EV Battery Factory On Sliding Demand:
Troubling news for the electric vehicle market emerged from Europe on Tuesday. The first was the collapse of Porsche Taycan prices, and second, a battery plant owned by Stellantis and Mercedes-Benz halted development. All of this signifies sliding EV demand across the EU.
Let’s begin with a new Bloomberg Intelligence report titled “Taycan’s 33% Value Drop Makes Even Tesla Owners Cringe,” highlighting that the high-end luxury EV market is experiencing “significant declines in value as demand decreases.”
The report, citing Experian data, found Porsche Taycan values in the first quarter sank 33% compared to the same period one year ago. This was an even more significant drop than the Tesla Model Y’s 28%.
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