A decline in interest in electric vehicle (EV) ownership in Singapore is drawing attention across Southeast Asia, including Indonesia, where EV adoption has increased but the readiness of the ecosystem remains under review.

A recent report by a research firm found that consumer interest in purchasing EVs in Singapore declined from 73% to 58%. Although this level remains above the global average of 43%, the decrease indicates a more cautious stance 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 respondents in Singapore cited concerns regarding the reliability and interoperability of public chargers.

Despite a charging ratio of 1:3, users continue to report concerns related to convenience and usability.

Used market trend for EVs

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 all influence consumer decisions.