The multi purpose vehicle or MPV segment is scattered across various price points, therefore, for this study, we’ve compiled all the offerings on sale, starting with the Maruti Eeco, going all the way up to the Kia Carens, which is the most expensive here. Notably, even though the Toyota Innova Crysta is widely recognised as the gold standard in the MPV segment, it has been omitted from this analysis due to limited data.
Used MPVs resale value study results
Used Mahindra Marazzo examples depreciate quicker than other MPVs
The Maruti Eeco, particularly in its CNG guise, stands out with the strongest residual value. Its utilitarian approach and inexpensive nature enhance its value in the secondary market.
Interestingly, models such as the Renault Triber, Maruti Ertiga, Kia Carens and Maruti XL6 exhibit slower depreciation trends compared to other segments. However, the Mahindra Marazzo, which struggles to find demand in the new-car space, depreciates rapidly, with 3-year-old examples often available at half their original on-road price.
Autocar India-Spinny Resale Value Study
This finding is based on a joint study conducted by Autocar India in collaboration with Spinny, a leading used car platform operational in 22 cities across India, including Delhi, Gurugram, Noida, Bangalore, Mumbai, Pune, Hyderabad, Chennai, Kolkata, Ahmedabad, Lucknow, Jaipur, Chandigarh, and Indore. Spinny provided average selling prices (ASP) derived from actual transactions of 21,944 cars sold across its network during the 2024 calendar year. For the purpose of the study, if a particular model had multiple engine options of the same fuel type, or came in multiple variants, these were merged and averaged. Depreciation was calculated as the percentage difference between a car’s on-road price in its year of manufacture and its resale price in 2024.
Uday Singh
Viraaj Bhatnagar
Dipan Sur
Rivan RS 
