The fall in the resale price of electric vehicles is still a major concern. This phenomenon can only be suppressed, if there is positive sentiment from battery manufacturers.
Electric vehicles , both cars and motorcycles, are still not a priority for financing industry players (multi-finance/ leasing ) for several reasons.
Jodjana Jody, an observer in the automotive and financing industry and former boss of Astra Credit Companies, sees the fear of finance who focus on serving car loans, especially for battery electric vehicle (BEV) types.
"The price of BEV cars is almost half the battery. So in the short term, it's difficult to know value of the used car , because the battery has an age, and it must be damaged along with the length of time used," he said when contacted, Wednesday (22/6/2022) .
According to him, the resale price which is still unclear is the main obstacle looming over the financing industry. Moreover, the average tenor of car financing installments is around 3 years, then most consumers are used to changing vehicles in the same period of time.
In addition, the BEV car consumer segment is similar to plug-in hybrid (PHEV) and hybrid (HEV) car consumers, where they tend to already have several car units, aka not the first car buyers. This type of consumer is actually less sensitive to the trend of resale prices for used cars.
"The climate for used BEVs in Indonesia may strengthen in about 5 years. The initial picture can be benchmarked to the US, because Tesla is over 5 years old there. Meanwhile, positive sentiment for used electric cars here is also supported by Indonesia Battery Corporation [PT Industri Indonesian batteries]. If it is possible to produce local batteries at low prices in 2025, this can determine future sales volumes," he added.
In addition to the resale price, according to Jody, there are other issues that hinder the leasing industry from prioritizing electric vehicles, one of which is the lack of support from the insurance industry. This is because the risk of accidents that have a direct impact on electric car batteries is a significant potential loss for leasing and insurance.
Similarly, PT Mandiri Utama Finance (MUF) is one of the finance companies that has started to provide electricity-based car loans through the MUF Premium business line.
MUF President Director Stanley Setia Atmadja revealed that the resale price is not only a spotlight for his party, but also a consideration for consumers in making decisions.
"Now with unit prices above Rp600 million, consumers have thought twice about how much to prepare later if they want to replace or resell. The trend of electric cars already exists, but interested consumers tend to see the readiness of supporting infrastructure, also waiting for technology to improve. up-to-date, especially regarding mileage," he said when Bisnis some time ago.
Meanwhile, President Director of PT Clipan Finance Indonesia Tbk (CFIN) Harjanto Tjitohardjojo is optimistic that the portion of financing for the latest BEV, PHEV and HEV cars will continue to increase every year, although the portion is still minimal.
"This year, the projected financing for new cars, both batteries and hybrids is only around Rp. 30 billion and we are not too aggressive, because of the total CFI financing target of Rp. 6 trillion, half of it is still supported by used cars," he told Bisnis .
PT Mandiri Tunas Finance as leasing company that focuses on serving new car financing is one example that has received the blessing electric vehicle .
This is because the realization of new financing for BEV, PHEV, and HEV types in the first quarter of 2022 is in the range of Rp. 50 billion, which is equivalent to last year's achievements.
However, the Director of Sales & Distribution of Mandiri Tunas Finance, William Francis, sees that public interest is still hampered by the high cost of down payment (DP), because the unit price of the car is also higher than conventional combustion engine cars.
Turning to finance companies that have a jumbo portfolio related to two-wheeled vehicle loans, PT Adira Dinamika Multi Finance Tbk alias Adira Finance (ADMF) also highlighted the drop in the resale price of electric motorcycles, so that financing distribution was carried out very selectively.
Most recently, ADMF has provided financing for electric motorcycles of various brands, such as Viar, Gesit, Selis, Volta, and United. ADMF also accommodates several car brands that issue electric variants, especially through their automotive exhibitions.
Meanwhile, PT BRI Multifinance Indonesia (BRI Finance), which recently collaborated with electric motorcycle manufacturer PT Smoot Motor Indonesia, also admitted that they are still hesitant to accommodate electric vehicle loans for the retail segment.
Therefore, the President Director of BRI Finance, Azizatun Azhimah, sees that the potential for electric vehicle financing is currently in the corporate segment that is interested in using electric cars and motorbikes as operational vehicles.
"This collaboration with Smoot, where BRI Finance uses their products as operational vehicles, is also our effort to educate the wider public that electric vehicles are increasingly relevant for everyday use. We are ready to provide financing to corporations who are interested in using electric motorcycles as operational vehicles, " he said.
EmoticonEmoticon