The automotive industry is undergoing a significant shift, with many manufacturers transitioning from internal combustion engine (ICE) vehicles to electric vehicles (EVs). Tesla may have pioneered the EV market, but China has taken the lead, surpassing many global competitors. Experts warn that the growing preference for EVs could drastically reduce the resale value (RV) of ICE vehicles, potentially spelling trouble for the second-hand car market.
Chinese EVs, known for their affordability, are often viewed as disposable, limiting their presence in the second-hand market. This trend poses a serious threat to the sustainability of the used car industry. Japan, after years of prioritizing hydrogen technology, has recently shifted its focus toward EVs, moving away from its earlier emphasis on hybrids and hydrogen-powered vehicles. Meanwhile, India is exploring the use of water as a potential fuel source.