Dealers Candidly Explain Reasons for Plummeting Prices of Used Electric Vehicles
Jakarta, CNBC Indonesia - Several dealers have revealed that prices of used electric vehicles are plummeting, with a substantial gap compared to new models. One of them, Dini, a used car dealer at WTC Mangga Dua in North Jakarta, stated that the price of a used BYD Seal at her dealership reaches Rp600 million. In contrast, the new BYD Seal is priced at Rp750 million.
“Yes, the used price has dropped a lot; here it’s around Rp600 million, whereas when we bought it new, it was Rp750 million,” said Dini when met by CNBC Indonesia on Wednesday (15/4/2026).
She explained that the fall in used electric vehicle prices is due to the emergence of many new variants that are far cheaper and more flexible, which affects the prices of older electric vehicles, including their used counterparts.
“Perhaps because now there are many emerging electric vehicles that are cheaper and more compact,” she continued.
Additionally, concerns over the diminishing battery life in electric vehicles are also causing their prices to be much lower.
“It’s the battery that’s most influential, because it’s used, so the battery life has already decreased, even if the usage is only a year,” she clarified.
Echoing Dini, Feri, another used electric vehicle dealer, said that the much cheaper prices of used electric vehicles are caused by the increasing availability of new electric vehicles that are more affordable and feature advanced technology.
“Yes, used electric vehicle prices have fallen sharply, probably because there are now many new ones that are cheaper and have longer maximum ranges, so why would people look for used ones when new ones are even more affordable,” said Feri.
However, with the drop in prices for older-year electric vehicles, he hopes that some customers will still seek them out, due to news of impending fuel price hikes.
“But if the prices have already fallen, that means they’re even cheaper, right? That’s actually good; the prices are more affordable, especially now that people are starting to consider electric vehicles because there’s talk of fuel prices rising,” he explained.
Here is a list of used electric vehicle prices:
BYD M6 2025 for Rp320 million-Rp325 million
BYD Seal 2025 for Rp600 million
Hyundai Ioniq 5 2025 for Rp420 million
Hyundai Kona Electric 2024 for Rp395 million
Denza D9 2025 for Rp810 million