WARNING: Your Electric Car is Losing Value Faster Than You Think!

Okay, picture this:

You walk into a showroom, eyes shining, ready to buy a brand-new car. You spot a shiny Tata Tiago petrol – ex-showroom price? Around ₹4.99 lakh.

Now your brain whispers, “Go electric, bro, save the planet.”

So, you turn to the Tiago EV.

Boom. Price jumps to about ₹8 lakh.

Same car. Same size. Same badge. But 60% costlier just because it runs on electrons instead of dinosaurs.

But what if we told you that while they’re great for saving on running costs, they lose their resale value much faster than petrol or diesel cars?

Sounds confusing?

EV Resale Value? More Like EV “Re-sale” Value

Turns out, electric cars drop value faster than you drop your phone on the bathroom floor.

Globally, here’s what’s happening:

* One-year-old Audi E-Tron GT? Already lost ~27% of its price.

* Lucid Air? Being resold for half price after just a year.

* Ford F150 Lightning EV? Lost almost 48% value in three years.

* Compare that with the regular Ford F150 petrol, which lost just 22%.

It’s like buying a brand-new iPhone and seeing it on OLX the next year for half the price. Hurts, right?

And It’s Not Just Luxury EVs

Even everyday models aren’t spared:

* Hyundai Kona petrol? -7%

* Kona EV? -14%

* Mercedes S-Class petrol? -40%

* Mercedes EQS electric? -60%

On average,

ICE cars lose ~35% in resale.

EVs?

About 42%.

But What About India?

India’s EV market is still young, so there isn’t enough long-term data.

Yet, early signs show similar patterns:

* Many nearly-new electric cars listed online at significantly lower prices than new

* EV owners worry about resale and demand in the second-hand market

But Wait, Why Do EVs Become “Sadboi” Cars So Quickly?

Here’s the tea:

* No Roadside Romeo Can Fix Them

* Got an old petrol car? Warranty over?

Your friendly neighbourhood Guddu Mechanic can fix clutch, AC, even repaint the bonnet for ₹2,000.

But EVs? Sorry, bro.

Local garages get scared just hearing “battery” or “motor”.

Even small stuff like charging port or cooling system? Nah.

Plus, EVs run on software. Replace a part, and the car might say, “System not recognized, please see dealer.”

Back to the expensive service centre you go.

Parts Are Like iPhones: No Child Parts, Only Whole Unit

In petrol cars, if your clutch dies, you replace the clutch plate.

In EVs? Battery, motor, BMS – tightly packed.

Small fault?

“Sir, poora unit badlega (whole unit will be replaced).”

That’s lakhs of rupees gone.

Battery Degradation

Batteries naturally lose capacity over time.

Even the best EV batteries degrade by ~2–3% per year

Over 10 years, a good EV battery can lose up to 20% capacity

For a new car buyer, this isn’t a big worry.

But in the used market, this is a huge concern:

You can’t “fix” a degraded battery; replacement is the only option

A new battery can cost up to 60% of the car’s value

For example, a car worth ₹12 lakh could need a battery costing ₹7 lakh

In contrast, ICE cars rarely have single components this expensive.

Lifetime Battery Warranties: Do They Help?

Some brands promise “lifetime warranties” on batteries.

But:

* Usually covers only the first owner, often for 8–15 years

* Warranty typically applies only if capacity drops below 70%

* Second owners may get reduced coverage (e.g., only 8 years total)

* Many buyers never claim it because battery health stays just above the threshold

So, Should You Buy a Used EV in India?

Yes – but don’t do it blind.

Always:

* Check battery health at an authorised service centre (a local mechanic can’t do this)

* Confirm how many years of battery warranty are left

* Check if the car has had a major battery or motor replacement

Don’t:

* Buy a 5+ year old EV with no warranty

* Assume resale will be great when you sell (it probably won’t)

Why EVs Lose Value (And Why That’s Good for Some)

* EV resale tanks fast: battery fear, expensive repairs, no roadside support

* New EVs overpriced, used EVs suddenly look like bargains

* Used EV buyers get cheap car + cheap running cost + some warranty

* But battery check is mandatory

EVs are like fancy smartphones, Expensive to buy, cheap to run, terrible resale.

But if you let someone else take the depreciation hit, you can scoop up a barely-used EV for the price of a new petrol hatchback.

Drive silently, charge cheaply, and laugh all the way to the bank