We are seeing all EV brands aggressively cutting prices and is this a sign of healthy market competition—or desperation?
Well, this is all good news for Malaysian EV buyers. When EV manufacturers slash selling prices to gain market share it benefits first time EV buyers.
However, this is NOT healthy for the market in the long run and IS IT just desperation? ……… Well the best thing to do is to take a drive to Westport and have a look at the stock of EV’s siting there waiting for buyers. This only fuels more discounts and better prices for Malaysians.
Meanwhile, after sales is often ignored by some and this should be considered when buying any new EV. Look at a smaller EV brands, they will NOT suffer a price war like this and so the BIG EV BOYS will come on top in the long run ….. which in EV calculation might be just 2 years or so.
The backfire will be low for the dominant brands and this is why? Right now R&D on battery tech, battery management and battery software is getting better and better. Which means in the long run Malaysian EV buyers will benefit from better driving range.
BUT …… it will be interesting to see HOW MANY current EV buyers/owners who bought their EV’s at peak selling prices will return to EV ownership in 5-7 years’ time when their EV’s have little or no value.
So, it is only a handful of used car dealers taking in used EV’s and that at very low prices. Sime Motors recently launched EV NEXT which is a dedicated EV used dealer that takes in all and every used EV brand in order to stabilize the used EV market.
First time EV buyers mostly knew the depreciation risks …… EV FOR LIFE!
Meanwhile, our Government incentives and tax exemptions have played a big role in spurring EV sales…… will it remain in 2026?
However, is the car financing and insurance sectors reacting to this volatility in EV pricing? Is the industry structurally ready for a future where values fluctuate this dramatically?
Think about it, how to repossess an EV when values are dipping much much lower than discounted selling prices! How will the finance company get back their capital?
Is it game time for EV brands and is it time for some brands to pack up and leave if they can’t play the heavy discounting game.
