A decline in interest in the electric vehicle ownership (EVs) in Singapore is drawing attention across Southeast Asia, including Indonesia, where EV adoption has increased but ecosystem readiness remains under review.
A recent report by a market research firm found that consumer interest in EV purchases in Singapore fell from 73% to 58%. Although this remains above the global average of 43%, the decrease indicates a more cautious position among buyers.
Globally, 50% of respondents stated that they were considering returning to internal combustion engine vehicles, representing an increase compared with the previous year.
According to the report, the shift reflects practical considerations rather than opposition to green technology. Approximately 56% of Singaporean respondents cited concerns regarding public charger reliability and interoperability. Despite a charging ratio of 1:3, users continue to report concerns related to convenience and usability.
Used market trend for EV
Industry observers state that the used car segment may reflect consumer behaviour more quickly than the new car market, which may be influenced by government incentives and promotional campaigns.
“The used car market tends to reveal consumer realities faster than the new car market. Technology may be developing rapidly, but consumer behaviour will change if it feels reasonable. As long as there are obstacles or friction in usage, consumers will naturally choose what is more practical. This is clearly visible in the used car market,” said Co-CEO & Director of OLX Indonesia, CK Yap.
The situation in Singapore indicates that EV adoption involves factors beyond sales volumes. Infrastructure reliability, interoperability, long-term ownership costs, and resale values influence consumer decisions.
As Indonesia continues its electrification efforts, the long-term outcome will depend on policy measures, incentives, infrastructure development, and overall cost considerations for consumers.
