Why used EV prices are falling

Studies show that used EV prices fell somewhere around 30% in September and October 2023 from the same period in 2022. Used overall vehicle prices including ICE, hybrid and EVs declined by only around 5%. It is mainly due to Tesla lowering its prices of its new cars. While it bodes well for buyers, some say it is yet another sign that demand is faltering and that American consumers see EVs as a bad investment. Others say those fears are overblown.