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.