Depreciated Leased EVs Could Kick Off A Nice Little Financing Crisis For Automakers [Yahoo! Finance]
General Motors Company (GM)
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Source: Yahoo! Finance
vehicles, reports Automotive News . And that's up from the 7.7% we saw in Q1. The exponential growth in electric vehicle leases in a post-pandemic America around 2022 is coming back to bite automakers in the butt now that EV credits have disappeared , carbon penalties have been erased, and general EV sentiment has waned. Used lots will be absolutely crammed with electric vehicles that are proving a harder sell, and to make matters worse for the automakers the lease returns are worth significantly less than had been predicted. This over leveraged EV influx isn't going to stop any time soon. According to credit reporting agency Experian, off-lease EV volume will peak in 2028 when nearly 800,000 lease return EVs will hit the market at the same time. The used EV market is growing, but we don't yet know if there will be enough demand to accommodate this prodigious influx of supply. Everyone who has taken an introductory economics class knows, when supply outstrips demand, prices plummet
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