Conducted in association with Spinny, India’s leading pre-owned car platform, the fourth edition of our Used Car Study analyses real-world resale values across a broad spectrum of vehicles sold in the Indian market in order to assess depreciation trends over a five-year ownership period. The study is based on actual transactional data shared by Spinny for vehicles sold between January 1 and August 31, 2025.
In this series of the resale value study, we are first taking a look at the budget hatchback segment:
Budget hatchbacks Resale Value
Following a similar trend as last year, the Maruti S-Presso petrol-manual continues to showcase the lowest average depreciation in the entry-level hatchback space. Interestingly, despite their differing positioning and appeal, the Maruti Alto and Renault Kwid trade at similar average resale prices, often separated by only a few thousand rupees, effectively creating a level playing field for buyers in the used car market.
The Renault Kwid witnessed several price hikes in 2022 alongside a mid-cycle update. Interestingly, in the used car market, MY22 manual versions depreciated higher than MY21 models, which was the only exception to the depreciation trend.
Notably, one-year-old petrol-manual variants of Kwid depreciate 2 percentage points more than the S-Presso, while the difference is much wider with the Alto K10 at 6 percentage points. That’s despite the fact that both the S-Presso and Alto K10 come from the same manufacturer and use the same engine. The difference, however, is much slimmer for the CNG variants.
The study found that the average selling price of a five-year-old budget hatchback retailed through Spinny stood at Rs 3.98 lakh. Comparable figures for three-year-old and one-year-old budget hatchbacks were Rs 4.60 lakh and Rs 5.12 lakh, respectively. Average depreciation over the same periods worked out to 39 percent, 32 percent and 22.25 percent, respectively.
Autocar-Spinny Resale Value Study methodology
The analysis covers the average selling prices (ASPs) of vehicles retailed through Spinny’s network across nine cities – Delhi-NCR, Bengaluru, Hyderabad, Pune, Chennai, Mumbai, Lucknow, Ahmedabad and Kolkata.
For the purposes of this study, depreciation has been defined as the percentage difference between a vehicle’s original on-road price in its year of manufacture and its resale value in 2025. In instances where a model was offered with multiple engine options using the same fuel type, the data has been consolidated and averaged. Variant-wise differences have similarly been averaged out.
Discontinued models and powertrain options have been excluded. Additionally, premium vehicles priced above Rs 30 lakh, electric vehicles and certain low-volume models have not been included due to limited transaction data and insufficient sample sizes.
