Indonesia’s Electric Vehicle Market Faces Rapid Depreciation

Jakarta – Unlike gasoline-powered cars, the resale value of used electric vehicles (EVs) in Indonesia is experiencing a significant decline, with some models depreciating as much as 50% within three to four years. This rapid depreciation is driven by a combination of factors, including the introduction of newer, more affordable models and concerns surrounding battery health and warranty coverage.

Factors Contributing to EV Depreciation

According to Agung Iskandar, Director of OLXmobbi, the primary drivers behind the steep depreciation of EVs in Indonesia are the frequent release of more advanced and competitively priced models, and the degradation of battery performance over time.

“Depreciation is still occurring. The decline is quite substantial. Now, manufacturers are employing different strategies. For example, the first 2,000 units purchased often receive a special price, making it difficult for older models to compete,” Iskandar explained. Source

Another key concern is the diminishing condition of EV batteries over time. Battery warranties often grow void when the vehicle is resold, adding to the uncertainty for potential buyers.

Impact on Specific EV Models

The impact of this depreciation is particularly noticeable in models like the Wuling Air ev and the Hyundai Ioniq 5, which have been on the Indonesian market for several years.

Iskandar noted that a three-year-old Hyundai Ioniq 5 can currently be traded in for around IDR 350 million, a significant drop from its original price of IDR 800 million. The Wuling Air ev is also experiencing similar price reductions, influenced by aggressive discount policies on new electric cars in Indonesia. Source

“But when prices are stable, like the Air EV and Ioniq 5, the price reduction is quite significant, in three years it can (drop) 50 percent,” he added. Source

OLXmobbi’s Role in the EV Market

OLXmobbi is actively involved in facilitating the trade-in of EVs, offering a platform for consumers to sell their used vehicles and upgrade to newer models. The company participated in the Gaikindo Indonesia International Auto Show (GIIAS) 2025 as an Official Trade-in Partner, offering cashback of up to IDR 6.8 million for all car brands. Source

OLXmobbi aims to provide a secure and straightforward solution for buying, selling, and trading in vehicles, addressing consumer concerns about the complexities of the used car market. Source