Lana

So when people want to buy a cheap-ish EV, China can make it fast.

domestic story was less positive chinese demand for evs and hybrids dove 14 in march to 848 000 the third straight monthly decline china's consumer spending has been under pressure for years thanks to a stubborn property slump weak consumer confidence and a softer jobs market

EVs and hybrids have long been cheaper to run, but today's energy costs have made that gap harder to ignore.

Higher gasoline prices make drivers feel like they're paying off that EV sticker price faster, and sometimes that's the nudge folks need to go from pump to plug.

Still, analysts argue that EVs won't seriously challenge their fossil fuel rivals in the US until a brand new one costs less than $40,000 versus $55,000 today, which would make the savings feel immediate, not just theoretical.

And with U.S.

tariffs on Chinese EVs still clocking in at 100% or more, American consumers are effectively locked out of cheaper Chinese models.

So EV shoppers are scouring the booming used market instead.

Secondhand EV sales rose 12% last quarter, compared to the same time last year.

That's it for today.

I'm Lana.

I'll see you tomorrow.

Hey, I'm Lana with your Daily Brief for Friday, April 3rd.

Coming up... With no end in sight, the war is causing market chaos.

And Amazon's eyeing a deal with satellite operator Global Star.

We'll also check in with Carl to get his answers to your burning questions.

More on the way, but first...

Market unrest was even unrestier on Thursday, after a Wednesday night address from the U.S.

president that offered no clear timeline for resolving the war in Iran.

World leaders gathered without the American president on Thursday to talk through how to best reopen the Strait of Hormuz after the conflict ends.