Used Electric Vehicle Sales Not Yet Significant

Jakarta – OLXmobbi’s director Agung Iskandar says that used vehicles in the electric segment have yet to show a significant volume of sales. This contrasts with new cars, which continue to display a positive trend.

‘The latest EV segment ads account for at most 1 percent of total listings on OLXMobbi. So our view remains that sellers for this segment are still very few,’ he told reporters in Jakarta on Thursday (5 March 2026).

The relatively weak demand for used EVs stems from several crucial issues for owners. Agung said there is a high likelihood that EV owners are reluctant to sell because depreciation is quite drastic.

‘Because electric cars have only really come into the market in the last couple of years, those who want to sell are the truly committed. If not, they feel regret because prices have fallen considerably,’ he said.

Regarding depreciation, he explained that it can reach up to 50 percent of the new price.

‘The Hyundai IONIQ and Wuling Air EV have fallen by quite a lot, more than 50 percent. The 2022 IONIQ 5 is now around Rp250–350 million,’ he explained.

Not only the price drop, but consumers interested in EVs also lack support from financing companies. Most financiers are not yet confident enough to finance EV purchases at this time.

Currently, EV segment ads on OLXMobbi are dominated by Wuling Air EV and Hyundai Ioniq. This is because these models are already quite popular in Indonesia’s automotive market. No wonder EV sales are still dominated by these models.