There also higher tariffs and transport cost. Shipping cars from China to the EU can cost up to a few thousand per car. Local production seems less competitive. But the bottom line is that there are now a lot of relatively affordable EVs in the market. The cheapest cars in most markets now include EVs.

For example the Dacia Spring that is selling for around 17K Euros in Germany. And then there are tax rebates, discounts, etc. that are causing some of these cars to be available for a lot less occasionally in some markets.

Markets where EVs have been available in larger numbers for a while now have a sizable EV market. Australia is relatively early with its adoption, so the second hand market is a lot smaller there. The EU as a relatively early adopter has a lot of EVs from 2020 or earlier that are still under warranty and being traded in quite large numbers now. In the last few months these been a very hot commodity as lots of people are feeling the pain of high fuel prices.

All these new small cars will become a large part of the second hand car market in a few years. There will many be millions of them on the roads in a few years. And they last quite long.

Isn't it just different levels of import duty and/or proximity to China?

(normally something being essential drives the price up)

Jeez, cars are absolute necessity in US, and yet still ave cost new runs $50,000 US or about 44,000 euros.

Interesting in which part of Europe are you living to make such a statement for the bit of luxury. The only country I could think of is the Netherlands and probably Belgium.