This is no caricature and to scale. Guess which one of the two vehicles is not available in the US and which one is not available in the EU.

This is no caricature and to scale. Guess which one of the two vehicles is not available in the US and which one is not available in the EU.

Rich people will always have their toys. But I think gas guzzlers will stick around longer for more poor people. They can’t afford new cars, and can barely afford used cars. The middle and upper class will transition to electric, and their old ICE cars will be sold (or occasionally given) to the poors.
I doubt that. The reason is simple, as soon as the EV used market balances out, used combustion engine cars will be more expensive to operate, making them an overall more expensive option, on top of being worse and more maintenance intensive. Norway is wealthy but not everyone there is rich. Yet they have 97% BEV among new sales now. Denmark will be next, soon enough and once Belgium and the Netherlands get there, the “only rich can afford BEVs” will be disproven for good. Without new ICE vehicles, also the used market will disappear eventually.