As the electric vehicle (EV) market in India continues to grow, many prospective buyers are curious about the resale value of these eco-friendly cars, and here, we see the probable resale value of top-five EVs in India after three years.
Resale value is an essential factor to consider when purchasing an EV, and it can significantly impact a car buyer’s overall investment.
Tata Nexon EV
The Tata Nexon EV is the most popular electric vehicle in India. Known for its robust build and impressive range, it has quickly gained popularity among Indian consumers.
After three years, the Nexon EV is expected to retain around 60-65 per cent of its original price.
This strong resale value is supported by Tata’s reputation for reliability and the growing demand for electric cars. Its maintenance cost is also low.
MG ZS EV
MG Motors’ ZS EV is another top contender in the Indian EV space. With its stylish design and advanced features, it has become a favourite of tech-savvy buyers.
The MG ZS EV is projected to retain approximately 50-55 per cent of its original price after three years.
This high resale value is attributed to MG’s commitment to quality and the vehicle’s continued popularity.
Hyundai Kona Electric
Hyundai’s Kona Electric offers a premium driving experience with its high range and upscale technology.
After three years, the Kona Electric is estimated to have a resale value of about 50 per cent of its initial price.
Hyundai’s strong brand reputation and the vehicle’s advanced features contribute to its favourable resale value.
Mercedes-Benz EQB
For those looking at luxury electric options, the Mercedes-Benz EQB is among the favourite.
This high-end EV combines luxury with sustainability, appealing to a niche market.
After three years, the EQB is expected to retain around 40-45 per cent of its original price.
The luxury brand’s image and the vehicle’s advanced technology will help it maintain value in the resale market.
Audi e-tron
Audi’s e-tron is a high-performance electric SUV that has captured the attention of premium car buyers.
Known for its sophisticated design and outstanding performance, the e-tron is projected to retain about 35-40 per cent of its price value after a period of three years.
Audi’s reputation for quality and the vehicle’s advanced features play a significant role in its resale value.
Factors affecting resale value
Several factors influence the resale value of electric vehicles in India:
1. Brand reputation: Established brands like Tata, MG, Hyundai, Mercedes-Benz, and Audi tend to have higher resale values due to their reputation for quality and reliability.
2. Vehicle condition: Well-maintained vehicles with high mileage and no major accidents generally have higher resale values.
3. Market demand: As the EV market grows, the demand for popular models can drive up resale values. High-demand models typically retain more value.
4. Technological advancements: Vehicles with the latest technology and features are likely to have better resale values, as buyers prefer advanced and hi-tech options.
5. Government policies: Incentives and subsidies for electric vehicles can influence their resale value. Positive policies can boost demand and, consequently, resale values.
E-Vroooom’s views
Electric vehicles are becoming increasingly popular in India, and understanding their resale value is crucial for making a smart investment and even though we have projected certain figures, there is an element of uncertainty regarding the resale value as this will hinge mainly on factors like demand for these vehicles and condition of battery also, among others.
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