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Hi Autocar, My name is Vikky. I'm in Mumbai, and I have driven my Tata Nexon EV XZ+ 30kwh for 4 years & 40k km and have absolutely loved the experience, but the depreciation is super high on the Nexon EV: The invoice price was INR 16 lacs in 2022, and now the dealers are offering me only INR 4 lacs for a trade-in, thus depreciating my car by 75% in 4 years. What would be your advice for other EV owners or me? Why are Tata and Mahindra not offering buyback programs for their EVs like VinFast is doing? If they have so much confidence in their product, they should offer a buyback scheme. Vikky, Mumbai
The depreciation you are seeing is unfortunately a reflection of the current EV market. The EV landscape has moved very quickly in the last four years, with newer models offering significantly more range, faster charging and better technology at similar or even lower prices (than what you paid for the Nexon EV in 2022). That rapidly evolving tech landscape alone has impacted used EV values across the board.
The best advice for you and other EV owners is to think of EVs as long-term ownership propositions. The real savings come from low running costs over time, not from resale value after a few years. If you have loved the Nexon EV and it is still serving your needs well, the most financially sensible option is often to keep it for as long as possible and maximise the cost savings.
The lack of a formal buyback programme from Tata or Mahindra is not necessarily a sign of a lack of confidence in their products. On the other hand, Vinfast’s buyback scheme is a marketing tool to build confidence and gain acceptance in a new market. Of course the buyback will come with several terms and conditions in order to receive the promised residual value, often only be applicable in exchange for a new vehicle from the same brand. So do go through the fine print before proceeding.

Tata Nexon EV
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Posted on: 19 Oct 2026
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