Have you gone and checked with used car dealers in recent months
In recent years the average Malaysian car buyer has been very interested in the advancement of automotive technology but not all of them have been ready to buy an electric vehicle. The reason is because of the slow expanding charging infrastructure and the issue of replacement electric car battery costs after 8-10 years of usage.
Yes, the battery replacement costs remains high and the car buyers from the lower income group worry about resale value of an EV after 5-7 years as the battery healthy might push used prices down.
With any used EV car buyer in Malaysia, their concerns are battery degradation, battery healthy and cost of replacement. The answer to this concern varies from car to car and from automaker to automaker.
Yes, the battery pack in the average electric car can last more than 10 years and most people will and might sell their EV in 4-6 years of ownership, but do you think the next owner is going to pay you a premium for a used EV?
The chances are slim for you getting even 30 to 35 percent of your new EV value after 6 years of ownership. You would probably get 30 percent at best depending on your battery health check and the price of replacement batteries at the time of sale.
Look at the asking price of a popular model 4 years plus Tesla (before negotiations) right now.
The above is mostly due to the extensive discounts being offered right now for brand new electric vehicles in new car showrooms.
Almost every brand, including the premium EV brands are offering large 4 figure and even shockingly 5 figure discounts on brand new EV’s.
Fast forward to May 2025, today, and the sales of electric cars are moving forward fast with ‘heavy discounting’ from all electric car manufacturers and there are even brand new high technology electric cars being sold for almost 50 percent of its original launch price.
This move has created a major ‘stir’ in the used car market and value of used electric vehicles have dropped drastically.
This is why Sime Motors (which sells a large number of electric vehicle models) has set-up a dedicated used electric vehicle center in Glenmarie called EV Next.
EV NEXT offers top names like BYD, BMW, MINI, Hyundai, Jaguar, Porsche, Volvo and other brands NOT under SIME business as well. The dealership provides a seamless experience, from selecting the perfect EV to ensuring comprehensive after sales service and maintenance.
What’s more, with Sime Motors’ expert team delivering exceptional customer service, buyers can expect nothing less than the highest standards of quality and care. In addition to its impressive selection of vehicles, EV NEXT is supported by Drivecare, an independent after sales network under Sime Motors.
So, with all the information and facts shared above, it must be noted that we are directing this article the middle and lower middle class Malaysian car buyers.
