{"id":184552,"date":"2024-03-09T01:40:07","date_gmt":"2024-03-09T07:40:07","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2024\/03\/teslas-price-cuts-are-driving-down-car-values-so-much-that-ev-makers-are-sending-checks-to-leasing-firms-to-compensate-them"},"modified":"2024-03-09T01:40:07","modified_gmt":"2024-03-09T07:40:07","slug":"teslas-price-cuts-are-driving-down-car-values-so-much-that-ev-makers-are-sending-checks-to-leasing-firms-to-compensate-them","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2024\/03\/teslas-price-cuts-are-driving-down-car-values-so-much-that-ev-makers-are-sending-checks-to-leasing-firms-to-compensate-them","title":{"rendered":"Tesla\u2019s price cuts are driving down car values so much that EV makers are sending checks to leasing firms to compensate them"},"content":{"rendered":"

<\/a><\/p>\n

Ayvens<\/a>, the biggest multi-brand leasing firm, already has received checks in recent weeks to make up for slumping prices<\/a>, according to Chief Executive Officer Tim Albertsen. Leasing companies are demanding concessions from EV makers, including agreements that manufacturers will buy back vehicles, to protect against further erosion in the $1.2 trillion<\/a> second-hand car market.<\/p>\n

Prices for used EVs plummeted last year as weakening demand for new battery-powered cars prompted Tesla<\/a> to slash sticker prices, forcing others to follow suit. The moves are reverberating through leasing firms, such as Europe-focused Societe Generale<\/a> SA\u2019s Ayvens and BNP Paribas<\/a> SA\u2019s Arval, which serve as middlemen in the corporate car market that accounts for roughly 60% of sales in the region.<\/p>\n

\u201cManufacturers today need to keep selling EVs,\u201d Albertsen said during the company\u2019s earnings call this month. \u201cWe then need some kind of protection from the manufacturers in terms of their future pricing.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Ayvens, the biggest multi-brand leasing firm, already has received checks in recent weeks to make up for slumping prices, according to Chief Executive Officer Tim Albertsen. Leasing companies are demanding concessions from EV makers, including agreements that manufacturers will buy back vehicles, to protect against further erosion in the $1.2 trillion second-hand car market. Prices [\u2026]<\/p>\n","protected":false},"author":556,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,1491],"tags":[],"class_list":["post-184552","post","type-post","status-publish","format-standard","hentry","category-sustainability","category-transportation"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/184552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/556"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=184552"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/184552\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=184552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=184552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=184552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}