Think your EV holds its value? China has some bad news for you

“Exporting the car is the easy part. Building the ecosystem that supports its second and third owner is much harder.”

Four out of five Chinese used-car dealers will not touch an EV older than five years. A three-year-old EV resells for 45 percent of sticker, down from 55 percent in 2023. China ships 2.5 million of these a year, so the West is about to import the depreciation curve along with the cars. The automakers already booked the first sale. The second owner is somebody else’s problem.