Editor’s Note
- Used electric car prices are falling: Depreciation could reach hundreds of millions of rupiah
- Electric car prices are falling by up to 20 percent
- This is the impact of depreciation on electric cars
Used electric car prices are falling: Depreciation could reach hundreds of millions of rupiah
The domestic market for used electric cars (Indonesia) has grown in recent years, paralleling the increase in electric vehicle sales.
It is striking that several models that previously sold for relatively high prices are experiencing significant depreciation after a few years of use.
Several popular electric cars, such as the Wuling Air EV, the Hyundai Ioniq 5, and the DFSK Series E1, are now available on the used car market at lower prices than when they were introduced.
In some cases, these price drops can even reach tens of percent in just one to two years.
Electric car prices drop by up to 20 percent
One of the most visible examples is the Wuling Air EV. This small electric car, launched in 2022 with a price tag of approximately 206 million to 243 million Indonesian rupees, is now widely available on the used car market, with prices ranging from 180 million to 230 million Indonesian rupees, depending on the model and condition.
Within this price range, the value of this car decreases by approximately 15% to 20% after a few years of use.
However, for some used cars, the price of the Air EV could drop even further. Some listings show the car selling for approximately 100 million to 128 million Indonesian rupees, down from the original price of approximately 252 million Indonesian rupees for the Long Range variant.
This means the price could drop by approximately 49% to 60% from its original market price.
Besides the Air EV, the DFSK Seres E1 is another electric car whose price has dropped significantly.
This model cost approximately 219 million Indonesian rupees when new, but is now often offered on the used market for around 130 million rupees.
As a result, the car’s value has decreased by approximately 40.6% compared to its original price in just one year.
More expensive electric cars, such as the Hyundai Ioniq 5, have also seen a price drop. This model previously cost approximately 816 million rupees for certain variants, but the used market price is now around 565 million rupees.
This Hyundai electric car has decreased in value by approximately 30.7% compared to its introductory price.
Other models, such as the Neta V, have also shown a significant decrease in value. Electric cars that previously sold for around 299 million rupees are now often found on the used car market for around 190 million rupees, a decrease of about 36% compared to their original price.
This is the impact of falling electric car prices
Generally, the price drop for used electric cars in Indonesia is greater than that of gasoline or diesel cars.
For some popular models on the market, the average depreciation of an electric car within one to two years of use can reach around 27% or even more, depending on the make and model.
Several factors contribute to the falling prices of used electric cars. In addition to rapid technological developments, the arrival of new models with more modern features has led to price adjustments for older generations of vehicles on the market.
Furthermore, consumer concerns about battery condition and the cost of replacing parts also affect the resale value of electric vehicles.
However, the falling prices of used electric cars offer opportunities for consumers who want to switch to an electric car at a more affordable price.
With prices now ranging from 100 million to 500 million Indonesian rupiah, depending on the model and year of manufacture, used electric cars are becoming a new alternative in the Indonesian car market.***obs
