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Several factors contribute to the decline in used EV prices. Notably, reductions in government rebates for new EV purchases have started to drive up their costs, leading to diminished consumer interest. This downturn can be further attributed to the insufficient charging infrastructure in many regions, causing anxiety among potential buyers regarding the practicality of owning an electric vehicle.
Range anxiety – the fear of running out of battery power while away from a charging station – remains a significant concern for consumers. However, for those with access to home charging, the appeal of owning a Tesla becomes much stronger.