Automotive Industry Grapples with Plummeting Resale Values of EVs

Shares in names like VW, Mercedes and Stellantis were lower this week, heading into Wednesday's session, after news of "falling demand" in Europe.  In the first quarter of this year, Europe's top two car manufacturers faced a downturn due to diminished demand in China and domestic markets, Financial Times reported on Tuesday this week. Volkswagen Group saw a significant decline in profits, dropping by a fifth from the previous year to €4.6bn, largely attributed to declining resale values and supply issues at Audi, a key brand within the…