EVs range degrades in a meaningful fashion with time and new EVs are improving faster than ICE cars, thus faster depreciation.

The flip side of this is a general over correction as the new car tax break ends used EVs are really compelling today. A slightly used Long Range Model 3 is a far better option than their new Base Model 3.

Eventually ICE cars were designed for their resale value so people buying a new car every 3 or 5 years could afford to spend more money. That’s coming for EVs as the technology improves battery degradation means the range sweet spot will be chosen to keep the used market happy not just new buyers etc.