The mid-size SUV segment in India is the segment in which there is the most action. Manufacturers keep updating their mid-size SUVs with new features and variants. The segment leader was the Hyundai Creta before Kia launched their Seltos. Then Hyundai launched the new generation of the Creta which is currently the most selling mid-size SUV. Now, the pre-owned market is also quite strong and many people are considering pre-owned vehicles now. Here, is market research of the mid-size SUVs that reveals the resale value.
The Seltos has had very strong demand in our market. It is the most successful product for Kia. The waiting periods of the Seltos are very high and there have been price hikes. Due to this, many people are considering buying the Seltos from the pre-owned market. This has led to high demands of the Seltos even in the used market. So, the Seltos is holding its resale value very well in the used market. Some owners are even asking for a premium over the price that they bought the SUV for.
The Creta is the king of the mid-size SUV segment. Because of its high demand, even the previous generation Creta is holding its value quite well. Having said that, depreciation on a 2019 or a two-year-old Creta is the highest but in its third, fourth and fifth year the depreciation starts to slow down. The petrol engine mated to an automatic gearbox has held its value much better than other variants. The reason behind this could be that the government has allowed a longer lifespan of the petrol engines and people are now preferring automatic transmissions over manual gearboxes.
Renault Duster might seem like the oldest mid-size SUV in the segment but it makes for a very good pre-owned vehicle. The petrol, as well as the diesel engine, have held their value pretty well. For the first two years, the value resale value is good but then the resale value falls down sharply. This is because the SUV after two years considered old and it does not seem like a good deal to buy an ageing Duster that is already more than two years old.
The Scorpio might look old in front of other SUVs but it is still the most rugged SUV that you can buy in the segment. It is the only SUV that is rear-wheel drive and is based on a ladder-frame chassis. This means that the Scorpio can take quite some beating and it has also proven itself to be reliable. Due to this, Scorpio has also held its resale value better than the Hyundai Creta’s diesel variant with a manual gearbox.
The Kicks was never a good seller for Nissan nor did it do well in the Indian market. Because of this, the Kicks also could not hold its value in the used market too. In fact, Kicks loses a third of its value in just two years.
Maruti Suzuki S-Cross
The S-Cross is not a huge success in the Indian market. It is one of the least selling Maruti Suzuki vehicles. Despite giving an update and a new engine, S-Cross’s sales did not increase significantly. Due to this, it also loses its value quite a bit in the first two years.