No one wants used EVs, making new ones a tougher sell too

[Mkl22]

On 4/1/2025 at 6:43 AM, RadX said:

then u go ask him la...how much he lose...knn...

Lose? Not Bao jiak? 

[RadX]

On 4/1/2025 at 7:34 AM, Mkl22 said:

Lose? Not Bao jiak? 

Aiyah @Voodooman aldy say he want black… dunno y that fella asking to sell white…

 

and that other Cb… every other car want to Cb know how much lost.. knn

[Hubwee]

On 3/31/2025 at 9:15 PM, Voodooman said:

I am not so hardcore.  

I meant the fake M trim that will make my car go after. 😂

I am actually trying to get PML to think of a way to install the m sports side skirt on my G90 instead of the m performance side skirt lo … think the m sports side skirt is so much nicer ..

[Voodooman]

On 4/1/2025 at 10:29 AM, Hubwee said:

I am actually trying to get PML to think of a way to install the m sports side skirt on my G90 instead of the m performance side skirt lo … think the m sports side skirt is so much nicer ..

Wah, you also want to make your G90 faster har? Lol

Just kidding but I presume this is not your daily ride? 

[Hubwee]

On 4/1/2025 at 10:52 AM, Voodooman said:

Wah, you also want to make your G90 faster har? Lol

Just kidding but I presume this is not your daily ride? 

It will be my daily as I prefer something low profile but even though it’s my daily , annual mileage will be maybe 1.5 k 

[RadX]

On 4/1/2025 at 11:08 AM, Hubwee said:

It will be my daily as I prefer something low profile but even though it’s my daily , annual mileage will be maybe 1.5 k 

U drive to market ah😂

[Hubwee]

On 4/1/2025 at 11:30 AM, RadX said:

U drive to market ah😂

Yes , used for marketing only … owners 6th car , full self healing PPF since day 1 , always park under shelter … sounds familiar to those used car ads .. 

Edited April 1 by Hubwee

[Nf0rc3r]

On 4/1/2025 at 6:36 AM, ER-3682 said:

So fast regret or want to make Money.?

Lost my job bro. Not by choice lol. Thinking to downgrade

[ER-3682]

On 4/1/2025 at 3:04 PM, Nf0rc3r said:

Lost my job bro. Not by choice lol. Thinking to downgrade

Sorry to hear it,agreed,my Business also affected,except Funeral Directors Business not affected.

[SGCM928]

After many hearsay, it seems to be true as of current, specifically the part that buyer view EV as electronic gadgets.

IN FOCUS: Do electric cars have good resale value? (https://www.channelnewsasia.com/singapore/electric-vehicles-ev-resale-value-cars-market-5154696)

Although sales of new EVs have increased quickly, some drivers remain sceptical of their resale value. Comments on online forums discussing the viability of EVs have raised such concerns.

“There isn't much demand in the market for secondhand EVs, and in time to come, when EVs with newer or better technology are available, your resale value will tank even more,” read one comment on a Reddit thread discussing considerations drivers should have before buying an EV. 

Mr Anson Lee, director of car dealer Euro Performance Asia, said he has found it “extremely hard to sell” secondhand EVs compared with ICE cars. 

Of the 20 he has attempted to sell so far, he has only managed to move three. Some have been sitting in his shop for over a year.

For the three that he sold, all of them were about a year old, and he had to sell them at about 40 per cent below their initial price, he said, adding that he was able to sell similar ICE vehicles at about 10 to 15 per cent below their initial price.

One reason for the low demand for used EVs is that drivers see them as a “gadget”, he said.

Using a mobile phone analogy, he said: “If you compare it to an iPhone, for example, if you are using an iPhone 13, and the iPhone 15 comes out, will you still buy an iPhone 13?” 

He added: "Even if you look at Tesla, when the Model Y came out, everyone sold away their Model 3, and people no longer wanted a Model 3."

The Tesla Model 3 was first released in Singapore in 2021, and the newer Model Y was released the following year.

He added that the difference in functionality between secondhand and new EVs is “not that far off”, but drivers “want to buy the latest model”. 

Secondhand car marketplace SGcarmart has also seen slower sales for used EVs.

Its editorial manager, Mr Desmond Chan, said that EVs tend to take around a third longer to sell than ICE cars.

According to statistics compiled by SGcarmart last year, 56 per cent of used EVs took more than 42 days to sell, while this figure was 44 per cent for used ICE cars. 

Drivers who CNA spoke to shared concerns that their EVs might draw low resale values, with many buying EVs with the plan to use them for 10 years – the duration of the Certificate of Entitlement (COE).

Not all EV drivers are sceptics. One of them is 33-year-old Chee Xiu Bin, who in November last year bought a secondhand EV car. 

“The high depreciation of EV makes it a super good deal for the secondhand buyer,” said the financial adviser. 

He bought a Jaguar I-Pace at S$177,000 with over six years of its COE left. It was selling for about S$400,000 brand new. 

“The price is right, the car is good, (so) it felt like a no-brainer for me,” he said. 

On battery concerns, he said that the dealer had done a battery swap for the vehicle under warranty before he took over, so there were no issues with battery health.

 

[Volvobrick]

On 5/28/2025 at 8:41 AM, SGCM928 said:

After many hearsay, it seems to be true as of current, specifically the part that buyer view EV as electronic gadgets.

IN FOCUS: Do electric cars have good resale value? (https://www.channelnewsasia.com/singapore/electric-vehicles-ev-resale-value-cars-market-5154696)

Although sales of new EVs have increased quickly, some drivers remain sceptical of their resale value. Comments on online forums discussing the viability of EVs have raised such concerns.

“There isn't much demand in the market for secondhand EVs, and in time to come, when EVs with newer or better technology are available, your resale value will tank even more,” read one comment on a Reddit thread discussing considerations drivers should have before buying an EV. 

Mr Anson Lee, director of car dealer Euro Performance Asia, said he has found it “extremely hard to sell” secondhand EVs compared with ICE cars. 

Of the 20 he has attempted to sell so far, he has only managed to move three. Some have been sitting in his shop for over a year.

For the three that he sold, all of them were about a year old, and he had to sell them at about 40 per cent below their initial price, he said, adding that he was able to sell similar ICE vehicles at about 10 to 15 per cent below their initial price.

One reason for the low demand for used EVs is that drivers see them as a “gadget”, he said.

Using a mobile phone analogy, he said: “If you compare it to an iPhone, for example, if you are using an iPhone 13, and the iPhone 15 comes out, will you still buy an iPhone 13?” 

He added: "Even if you look at Tesla, when the Model Y came out, everyone sold away their Model 3, and people no longer wanted a Model 3."

The Tesla Model 3 was first released in Singapore in 2021, and the newer Model Y was released the following year.

He added that the difference in functionality between secondhand and new EVs is “not that far off”, but drivers “want to buy the latest model”. 

Secondhand car marketplace SGcarmart has also seen slower sales for used EVs.

Its editorial manager, Mr Desmond Chan, said that EVs tend to take around a third longer to sell than ICE cars.

According to statistics compiled by SGcarmart last year, 56 per cent of used EVs took more than 42 days to sell, while this figure was 44 per cent for used ICE cars. 

Drivers who CNA spoke to shared concerns that their EVs might draw low resale values, with many buying EVs with the plan to use them for 10 years – the duration of the Certificate of Entitlement (COE).

Not all EV drivers are sceptics. One of them is 33-year-old Chee Xiu Bin, who in November last year bought a secondhand EV car. 

“The high depreciation of EV makes it a super good deal for the secondhand buyer,” said the financial adviser. 

He bought a Jaguar I-Pace at S$177,000 with over six years of its COE left. It was selling for about S$400,000 brand new. 

“The price is right, the car is good, (so) it felt like a no-brainer for me,” he said. 

On battery concerns, he said that the dealer had done a battery swap for the vehicle under warranty before he took over, so there were no issues with battery health.

 

And people saying dealer margins not an important consideration.....

 

 

[Tianmo]

Why would the dealer do a battery swap for the Jaguar I-Pace which is less than 4 years of age?

 

[Beregond]

On 5/28/2025 at 12:38 PM, Tianmo said:

Why would the dealer do a battery swap for the Jaguar I-Pace which is less than 4 years of age?

 

Make sense if the cost is not huge.

Once any buyer hear new battery. The car is 1/2 sold. Does not matter even if the old battery is still in good condition.

Sale tactics. 

 

[Mancypher]

On 5/28/2025 at 8:41 AM, SGCM928 said:

After many hearsay, it seems to be true as of current, specifically the part that buyer view EV as electronic gadgets.

IN FOCUS: Do electric cars have good resale value? (https://www.channelnewsasia.com/singapore/electric-vehicles-ev-resale-value-cars-market-5154696)

Although sales of new EVs have increased quickly, some drivers remain sceptical of their resale value. Comments on online forums discussing the viability of EVs have raised such concerns.

“There isn't much demand in the market for secondhand EVs, and in time to come, when EVs with newer or better technology are available, your resale value will tank even more,” read one comment on a Reddit thread discussing considerations drivers should have before buying an EV. 

Mr Anson Lee, director of car dealer Euro Performance Asia, said he has found it “extremely hard to sell” secondhand EVs compared with ICE cars. 

Of the 20 he has attempted to sell so far, he has only managed to move three. Some have been sitting in his shop for over a year.

For the three that he sold, all of them were about a year old, and he had to sell them at about 40 per cent below their initial price, he said, adding that he was able to sell similar ICE vehicles at about 10 to 15 per cent below their initial price.

One reason for the low demand for used EVs is that drivers see them as a “gadget”, he said.

Using a mobile phone analogy, he said: “If you compare it to an iPhone, for example, if you are using an iPhone 13, and the iPhone 15 comes out, will you still buy an iPhone 13?” 

He added: "Even if you look at Tesla, when the Model Y came out, everyone sold away their Model 3, and people no longer wanted a Model 3."

The Tesla Model 3 was first released in Singapore in 2021, and the newer Model Y was released the following year.

He added that the difference in functionality between secondhand and new EVs is “not that far off”, but drivers “want to buy the latest model”. 

Secondhand car marketplace SGcarmart has also seen slower sales for used EVs.

Its editorial manager, Mr Desmond Chan, said that EVs tend to take around a third longer to sell than ICE cars.

According to statistics compiled by SGcarmart last year, 56 per cent of used EVs took more than 42 days to sell, while this figure was 44 per cent for used ICE cars. 

Drivers who CNA spoke to shared concerns that their EVs might draw low resale values, with many buying EVs with the plan to use them for 10 years – the duration of the Certificate of Entitlement (COE).

Not all EV drivers are sceptics. One of them is 33-year-old Chee Xiu Bin, who in November last year bought a secondhand EV car. 

“The high depreciation of EV makes it a super good deal for the secondhand buyer,” said the financial adviser. 

He bought a Jaguar I-Pace at S$177,000 with over six years of its COE left. It was selling for about S$400,000 brand new. 

“The price is right, the car is good, (so) it felt like a no-brainer for me,” he said. 

On battery concerns, he said that the dealer had done a battery swap for the vehicle under warranty before he took over, so there were no issues with battery health.

 

"Newly registered EVs typically have lower ARF values than ICE cars, as drivers enjoy up to S$40,000 off the initial fee: 

- They are eligible for the EV Early Adoption Incentive. Up to the end of this year, they can receive rebates of up to 45 per cent off the ARF, capped at S$15,000. 

- A Vehicular Emissions Scheme rebate of S$25,000 will also apply to most electric cars until the end of the year, which would be subtracted from the ARF. 

Since the ARF determines the PARF rebate, the lower the ARF, the lower the PARF rebate an EV driver would get upon deregistration.

For example, drivers Mr Loh and Mr Haqqim received the maximum S$40,000 off the ARF. This meant they did not have to pay the fee when they registered their EVs.

This means that upon deregistering their car, they would not get a PARF rebate."

=====================================================================================================================

$0 ARF.. That's y COE sky high.. Aft 5yr, scrap still can get back 50k... [referring only to Cat A]

[Wt_know]

when will spore reach the “no queue” level?  

 

[ER-3682]

On 6/2/2025 at 8:39 AM, Wt_know said:

when will spore reach the “no queue” level?  

 

No Queue because not 100% of staying HDB Car Owners bought EV,imagine 90% of HDB Car Owners have EVs & only 3-5 Charging Bays in each Carpark..

[inlinesix]

On 6/2/2025 at 8:46 AM, ER-3682 said:

No Queue because not 100% of staying HDB Car Owners bought EV,imagine 90% of HDB Car Owners have EVs & only 3-5 Charging Bays in each Carpark..

I said previously, it is a chicken and egg problem.

Charge+ set up 8 bays in 2022 (can’t rem exactly). There was 1 Tesla.

Charge+ add another 10 bays in Dec 2024. There were 2 Tesla, 2 BYD and 1 Aion.

It is waste to achieve 1:1 unless entire estate is PHV drivers.

[ER-3682]

I EVs still best have Landed Houses or Factories.