Previously on our website, we had discussed how electric vehicles are rapidly losing their value and showing up in used car marketplaces with unbelievably low resale prices. While these prices can concern early adopters, first-time EV buyers may find them interesting. If a person is looking to buy an EV as his/her second car, it makes a lot of sense to find the best deal from the used car market. Even if we take all the uncertainties and challenges into account, an unbelievably low price (read: an incredible deal) could compensate for all those fears and help him/ her get a first taste of EV ownership. If you are someone looking for such deals on mass-market EVs, here are five options to consider...
The ZS EV is a popular choice among EV buyers. Here’s a four-year-old ZS listed for sale with an asking price of just 11.75 lakh! Back in its day, this electric SUV had a starting ex-showroom price of Rs 20.99 lakh. The variant in this case is the top-spec ‘Exclusive’, which had an ex-showroom price of Rs 24.18 lakh. The on-road price in Bengaluru was approximately Rs 25.8 lakh when this car was purchased in 2021. In just four years, this EV has lost 54.5% of its value (approximately 14 lakh rupees).
In 2021, MG gave the (facelifted) ZS a larger 44.5kWh battery pack that had a claimed range of 419km per charge. Earlier this year, the EV’s prices were revised, making it cheaper and better-positioned against rivals. Up to Rs 4.5 lakh was shaved off its price tags, pumping more value into the higher trims. Early adopters were, however, deeply disappointed by the revision.
This listing is from Bengaluru, Karnataka. The Nexon.EV received a facelift in 2023. This is, however, the pre-facelift model. The ad mentions it to be in excellent condition and still with its first owner. The odometer reading, it says, is 48,000 km. The owner is asking Rs 8 lakh for this electric SUV.
Back in its day, the Nexon EV XZ+ used to have an ex-showroom price of Rs 15.99 lakh. The last recorded on-road price in Bangalore was Rs 17.52 lakh. This translates to a depreciation of Rs 9.5 lakh. This EV has lost 54% of its value in 2 years.
Launched in August last year, the Curvv.EV is part of Tata’s modern EV portfolio. It is available with two battery options- 45kWh and 55kWh. The ad here shows a top-spec Empowered+ A 55 variant for sale in Sector 18, Noida. It has an asking price of Rs 17 lakh.
The on-road price of this variant in Noida is Rs 23.26 lakh. This vehicle has just 10,650 km on its odometer and is still under warranty. Despite these, it has lost nearly 27% (Rs 6.26 lakh) of its value in under a year!
The ad also mentions this vehicle to have no accident history and adds that all services were done at Tata service centres. Going by these, this Curvv.EV seems to make a lot of sense to someone planning to buy this year.
When we say ‘Mahindra’s electric SUV’ today, many might think of the XEV 9e or the BE6. The XUV400, launched in January 2024 was, in fact, the first electric SUV from the Indian carmaker. It is a rival to the hot-selling Tata Nexon, which unfortunately, failed to mirror its success.
Here’s an interesting OLX find- a 2024 XUV 400 EL Fast Charger (Pro) variant with an asking price of Rs 11 lakh, from Bengaluru. It has an on-road price of around Rs 18.9 lakh, in Bangalore. The EV has thus lost around 41% (approximately Rs 7.9 lakh) of its value in just a year!
Here’s the cheapest EV in this list- a 2020 Tata Tigor EV with an asking price of Rs 2.99 lakh! This ad is from Bengaluru. The car here seems to be a 2020 Tigor EV XM Plus with 58,000 km on its odometer. Back in the day, this variant had an on-road price of Rs 11.40 lakh in Bengaluru, indicating a depreciation of Rs 8.4 lakh (73% of vehicle value!) in just five years. Crazy!
For perspective, this ad from Sector 49, Noida shows a 2020 Tigor petrol AMT with an asking price of Rs 5.65 lakh. This car has 75,421 km on its odometer- much more than the EV’s number. Back in its day, this variant had an on-road price of 8.26 lakh in Noida, translating to a depreciation of Rs. 2.6 lakh ( 31.6% of vehicle value).