Market Watch: Used EVs You Can Buy In Singapore At Different Price Points

There’s clearly an appetite for more comfortable, efficient and functional forms of motoring regardless of how the vehicle is propelled. Cast the net wide and most of the cars we see are higher riding, family-friendly and filled with tech. While the best internal combustion engine (ICE) vehicles can supply the efficiency none would have imagined a decade ago (we’re talking about 20km/l, easy!), zero emission motoring afforded by EVs, without doubt, shifts the game on to an entirely different playing field.

How is Singapore’s EV market doing?

Some have dipped their toes into the EV concept, while others dived in head first even when charging infrastructure was still in its infancy. Things are looking much brighter nowadays - VW held an “Electric City” showcase to display the ID.4, ID.5, Skoda Enyaq and ID. Buzz amongst others under the VW Group umbrella. Latest entrant Chery launched the Omoda E5 just weeks after GAC AION released the Y Plus crossover SUV. Cat A-friendly EVs are on the rise - Tesla’s Model 3 has jumped on the bandwagon. One thing’s certain - brands, both new and established, are striving to bring in as many relevant EVs as they can to the Singapore market.

Can I buy a cheap used EV in Singapore now?

Over at the more affordable end of the EV scale we’ll be looking at a used BYD e6, which depending on mileage, will set you back around S$12,000 to $14,000 of annual depreciation. That’s treading on BMW 216i Gran Tourer and Honda Jazz territory, if the ICE route is still an option for you. S$14k to S$15k annually will get you the MG ZS EV and OG Hyundai Ioniq. Keep an eye on used BYD Dolphins in the next couple of months - they are currently slightly pricier but should be easier on the wallet once more kilometres pile up.

What EVs can I buy in Singapore for S$20K - S$25k depreciation per year?

That’s a sizable amount of cash, which leaves you with a much larger pool to cast your net. Both near-new Tesla Model 3 and Y will not be an issue - even those with mileage as low as 13,000km. The Korean pairing of Hyundai Ioniq 5 and Kia EV6 is also well within reach - the former should see a friendlier price tag once more Cat A-friendly variants appear on classifieds. Similar money gets you a Polestar 2 and the “junior” of the Mercedes-EQ range.

What are some of the most expensive used EVs in Singapore?

This near-S$900k Porsche Taycan Turbo S costs a fair whack more than the others (S$100k depreciation per year). Less “manic” Taycans and the Audi RS e-tron GT sibling can be had for half of that depreciation. Audi e-tron Sportback and Mercedes-Benz EQC family haulers are going for low to mid S$30k depreciation, while the brilliant BMW iX3, OneShift’s Car Of The Year 2021, can be had for approximately S$26k depreciation annually.

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