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Why Most Electric Cars Are Leased, Not Owned (bloomberg.com)
Bloomberg's research shows that drivers in the U.S. lease almost 80 percent of battery-powered vehicles and 55 percent of plug-in hybrids. "The lease rate for the country's entire fleet hovers around 30 percent," reports Bloomberg, noting that Tesla does not divulge how many of its vehicles are leased since it sells its cars directly rather than through dealerships. From the report: The lopsided consumer preference for leases is fueled by the meager demand for battery-powered vehicles on the used market. Partly this is a consequence of public policy meant to spur electric vehicle adoptions: buyers of pre-owned cars can't grab thousands of dollars in federal and state incentives. The high lease rate is also fueled by the bet [many] are making that upcoming models will far exceed today's in value and capabilities. Perhaps electric vehicles will truly arrive when they are no longer compared to smartphones, which become obsolete after three years.
A conventional automobile, properly maintained, can last for a very long time and repairs can be performed incrementally. Any component that fails can be replaced with a used part from a junk yard if you want to save money, so used vehicles are still quite valuable,
Electric vehicles have a very expensive component -- the battery pack -- that cannot be repaired. Once it reaches end of life it must be replaced, you have no choice. This makes used electric vehicles much less attractive because they have a very expensive, unavoidable cost lurking in the future. Ultimately it affects the sale of new vehicles as well -- most people don't want to buy a car that nobody will want when they need to trade it in for a new one.
Maybe someday this problem with be solved, but it's still a very long way off.