Used Electric Vehicle Prices Now Discounted by up to 40%, Here's Why

Jakarta – Indonesia’s used electric vehicle market is beginning to develop as sales of electric vehicles have increased over the past several years. Notably, several models previously sold at relatively high prices are now experiencing significant depreciation after a few years of use.

Popular electric vehicles such as the Wuling Air EV, Hyundai Ioniq 5, and DFSK Seres E1 are increasingly found in the used vehicle market at lower prices compared to their original launch prices. Price declines in some cases have reached tens of percentage points within just one to two years.

The most visible example is the Wuling Air EV. This compact electric vehicle, launched in 2022 at a price of approximately IDR 206 million to IDR 243 million, is now commonly sold in the used market at a range of IDR 180 million to IDR 230 million depending on the variant and vehicle condition. Within this range, the price decline is approximately 15% to 20% after several years of use.

However, for some units in the used vehicle market, the Air EV price has dropped even further. Some listings show this vehicle being sold in the range of IDR 100 million to IDR 128 million from an original price of approximately IDR 252 million for the Long Range variant. This represents a price decline of approximately 49% to 60% from the original market price.

Beyond the Air EV, the DFSK Seres E1 electric vehicle has also experienced considerable price depreciation. This model was previously sold for approximately IDR 219 million when new, but in the used vehicle market is now commonly offered at around IDR 130 million. Consequently, the vehicle’s value has declined approximately 40.6% from the original price in just around one year of use.

Price declines are also evident in more expensive electric vehicles such as the Hyundai Ioniq 5. This model was previously sold for approximately IDR 816 million for certain variants, but in the used vehicle market its price is now in the region of IDR 565 million. This means the electric vehicle has experienced depreciation of approximately 30.7% compared to its original launch price.

Other models such as the Neta V have also experienced considerable value declines. This electric vehicle, previously sold for approximately IDR 299 million, is now commonly found in the used vehicle market at around IDR 190 million, or a decline of approximately 36% from the original price.

In general, used electric vehicle price depreciation in Indonesia tends to be considerably larger compared to petrol or diesel engine vehicles. From several popular models in circulation on the market, the average depreciation of electric vehicles within one to two years of use can reach approximately 27% or more depending on the vehicle brand and model.

Several factors are influencing the decline in used electric vehicle prices. Beyond the very rapid development of technology, the emergence of new models with more modern features has caused previous-generation vehicles to experience price adjustments in the market. Additionally, some consumers’ concerns about battery condition and component replacement costs have also influenced the resale value of electric vehicles.

Nevertheless, declining used electric vehicle prices are opening opportunities for consumers wishing to switch to electric vehicles at more affordable costs. With prices now potentially ranging from IDR 100 million to IDR 500 million depending on the model and production year, used electric vehicles are becoming a new alternative in Indonesia’s automotive market.