Umm...no, not quite the picture.... the change in the laws only bans the sale of new ICE powered vehicles, not existing ICE powered vehicles.....and we probably need someone with a crystal ball to predict what's going to happen in the latter case B^)
Think of AU for instance ~ let's bullshit to ourselves and imagine the Aust. Govt. ended up with such a huge budget surplus, they were able to buy every aussie a brand new EV, and literally ban all ICE powered cars altogether at the same time...m'kay? IF that happened, would Australia be able to hit it's global CO2 emissions target?...Pffft!...not ever close....only around 8% of this country's CO2 emissions are directly attributed to ICE powered cars. In fact...in this country such a thing would require more govt. expenditure wrt green electricity generation.
IMHO, the whole global warming and CO2 emission reductions go on to veil a bigger reality ~ wind the clock back 2 or 3 decades, and it was the realization of being near to the point of exhausting the world's crude oil supplies that was considered the real threat, not how much CO2 was being belched into the air by ICE engines....this is why we ended up with so many 4cyl cars on the road, very little to do with emissions.
Imagine for a moment the world was still very much at risk of exhausting it's crude oil supply, and all these things including EVs and having to meet CO2 emissions targets...while supposedly trying to address global warming, also have the convenient side effect of reducing crude oil consumption. You think...why would they do this, and you have to look to which industries actually rely on crude oil based fuels....at the top of my list would be agricultural/food based industries ; at the top of other ppl's list will be ICE powered aircraft...read: air travel. If it came to the crunch of having deny ppl with ICE vehicles from being able to buy petrol for example, so that jet aircraft and other ICE powered planes can stay in the air, what do you think is going to happen? Likely petrol @ $20/litre ... 8)
The cost of 2ndhand ICE powered cars will likely drop and drop, with the rise of EV adoption and increasing up & up of fuel prices. The resale price of 2ndhand classic/veteran/vintage ICE vehicle should continue to rise, as aligned with their intrinsic worth as an antique/collectable item.
footnote: I should be pushing up the daisies by 2035 if my luck holds good...but there's always Murphy =)
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