The explanation you hear most often is “buyers are afraid of battery degradation.” Look at the actual numbers, though, and the main cause is far more straightforward.
New car prices fell, and a used car can never be worth more than the identical brand-new one.
The numbers that explain nearly all of it
| Model | Launch price, around 2023 | New price, 2026 | New car cheaper by |
|---|---|---|---|
| BYD Atto 3 | ฿1,190,000 (Extended) | ฿699,900 (Standard) · ฿769,900-849,900 (Extended) | over ฿400,000 |
| MG4 | ฿869,000 (Long Range) | ฿559,000 | ~฿310,000 |
| ORA Good Cat | ฿828,500 (500) | ฿599,000 | ~฿230,000 |
| MG ZS EV | ฿949,000 | ฿599,000 | ~฿350,000 |
| Tesla Model 3 | ฿1,759,000 (LR) | ฿1,599,000 | ~฿160,000 |
| NETA V II | over ฿500,000 | ฿429,000-459,000 | over ฿70,000 |
Read that table correctly: these are not used prices. These are brand-new showroom prices that came down on their own.
If you bought an Atto 3 Extended in 2023 at ฿1,190,000 and today someone can buy a brand-new one with full warranty for ฿769,900 — or ฿669,900 for the Premium during a promotion — your car has to sit well below that, however perfect its battery is.
That is the primary cause, not SOH. And it is entirely outside an owner’s control.
Four secondary factors (smaller than people assume)
1. Battery anxiety — partly real
Buyers worry about pack replacement costs running into the hundreds of thousands of baht. The concern is reasonable, but it affects willingness to buy more than it affects price, because most cars on the market are two to three years old, still hold high SOH, and remain inside an 8-year warranty.
What matters more is that a buyer cannot know the SOH without testing it. The market discounts to compensate for that uncertainty — which means an SOH certificate is a tool that genuinely raises the sale price.
2. Technology moves quickly
A 2026 model charges faster and goes further than a 2023 one, at a lower price. Older EVs date faster than petrol cars do.
3. The service network
Where a brand’s service network contracts, used values fall far below the average. NETA is the clearest example — once the parent company entered reorganisation and service centres closed, the used market effectively stopped functioning. Not because the cars were bad, but because nobody could price the parts risk.
This factor does not apply equally to every brand — and it’s something to weigh when buying new, not when selling.
4. Used-car finance
Several lenders treat used EVs more cautiously than used petrol cars, on loan-to-value, term and interest rate. When buyers can borrow less, the price the market will bear falls with it.
If you’re selling
Accept this first: the value lost to new-car price cuts is not recoverable, no matter how long you wait or how well you detail the car.
What genuinely still helps:
- Get a battery health (SOH) certificate. It is the one thing that converts a buyer’s uncertainty into a number, and it typically returns several times its cost
- Replace the 12V battery before selling. A few thousand baht that eliminates the “car won’t wake up during the viewing” scenario, which kills deals instantly
- Assemble the complete service history. If the car carries transferable cover — MG’s lifetime warranty terms do transfer — that is a selling point with monetary value. Show the documentation
- Clear any outstanding recalls before you advertise
- Wipe your personal data — linked accounts, trip history and paired phones
On timing: waiting doesn’t help when the cause is new-car price cuts, because those prices are still trending down. If you’re going to sell, selling sooner usually beats waiting.
If you’re buying used
A market with heavy depreciation is a buyer’s market — provided you know what to check.
Pre-purchase checklist
1. Measure the pack’s actual SOH. Don’t take anyone’s word for it A two-to-three-year-old car in normal use should be around 90% or better. Below 85% needs a specific explanation.
2. Ask about charging history Cars that lived on DC fast charging — rentals and transfer vehicles — degrade faster than home-AC-charged cars. Phuket’s used market has a meaningful share of these, so ask directly.
3. Check recall status by VIN Free, takes minutes, and an outstanding recall is clear negotiating leverage.
4. Check for flood history This matters more in Phuket than almost anywhere, given the monsoon flooding every year. Water damage usually shows no immediate symptoms and surfaces months later, particularly corrosion from brackish or sea water. If there’s flood history, walk away.
5. Inspect the underbody On many models the pack forms the structural floor. Underbody impact marks are a risk to have a technician assess — not a cosmetic issue.
6. Check remaining warranty and whether it transfers Some brands transfer cover, some don’t, and the terms usually depend on a complete dealer service history. Ask to see the original warranty booklet and service records.
7. Price in what’s coming The 12V battery is a certain cost. In Phuket it lasts around 18-24 months, so if the car is over two years old and it’s never been changed, assume it’s due.
Who gets the most from a used EV
- Anyone with home charging — very low running costs and no competing for public connectors
- Short urban journeys — reduced range from SOH loss barely registers
- Anyone planning to keep it 5+ years — the largest depreciation hit was absorbed by the previous owner
EV Phuket — Pre-Purchase Used EV Inspection
- High-voltage pack and 12V battery health measurement
- AC and DC charging system testing
- Recall status check by VIN
- Inspection for flood damage and underbody impact
- Vehicle health certificate — usable as documentation when negotiating or selling
- Inspection fee ฿1,500-3,000
📞 EV Phuket
- Call: 098-168-9907
- LINE: @evphuket
- We come to you, anywhere in Phuket
Related Reading
- China’s EV Price War - why new prices keep falling
- Used EV Buying Checklist - the full inspection walkthrough
- EV Battery Warranties - what transfers and what doesn’t
- The NETA Collapse - what happens when a network fails
Sources: Official 2026 Thai distributor pricing (BYD, MG, ORA, Tesla, NETA), 2023 launch prices, Motor Show 2026 campaign announcements, EV Phuket service records — verified July 2026.