Slumping EV prices force carmakers to repay leasing firms

Without stable pricing in the used-EV market, Europe’s target for phasing out sales of new combustion-engine cars by 2035 looks less likely.

Carmakers need to comply with tightening fleet emission levels or pay fines.

Carmakers have begun compensating leasing companies for the sliding value of used electric cars as Tesla’s price cuts rip through an industry that must sell more EVs or face hefty fines.

Ayvens, the biggest multi-brand leasing firm, already has received checks in recent weeks to make up for slumping prices, according to chief executive Tim Albertsen.