[dmix]

That and governments pushing to ban non-EV cars over a certain timeline while subsidizing more expensive EVs.

The most important thing right now in addition to fuel prices is how much cheaper EVs are getting because of innovation in China.

[netsharc]

Interesting point, I wonder why governments haven't planted the idea in buyers that ICE cars will be getting more expensive to own (e.g. through taxes) in the coming 5-10 years. Then the thought of buying an ICE car now will also be less attractive because people know they won't be worth much in the 2nd hand market in 5-10 years.

But I suppose I see the answer, it's because of the car manufacturers employing many EU voters (in particular in Germany which is the 400kg gorilla in the EU), no government wants to piss off their voters.

[Symbiote]

It's not as direct as a future tax, but ICE cars have been gradually made less useful in many EU countries including Germany and France. You can't drive one into the centre of Paris, and older ICE cars are banned from the centre of larger German cities.

Even people who never go to these cities know it reduces the second hand value.