Earlier quoted context omitted.
Why wouldn't the used market eat them up? The existing infrastructure of gas station is realistically not going away until enough people have ditched their old vehicles, and cars are thankfully an industry where consumers still expect their cars to last 10+ years. Don't know what everyone else's experience is, but coming from a middle class family, my first car was a 1993 Ford Fiesta (which was ~20 year old at the ti…
> consumers still expect their cars to last 10+ years Much longer than that. I'm in my mid 20s in the UK, and I only know one person who drives a car that's less than a decade old, and she leases it. Everyone else has cars 1995-2011. Mine is a 2010 fiesta which I bought last year. The used car market is huge here.
In a lot of the EU, the used-car sector has lost a lot of ground, particularly since governments figured that a cheap way to stimulate tax revenues is to pass emission rules, effectively forcing sales of new vehicles. We had a similar effect in UK (also powered by the rise of PCP), but the somewhat-constrained supply of new vehicles kept up prices of used ones.