According to the Used Car Study 2026, conducted in collaboration with India’s leading pre-owned car platform Spinny, the Mahindra XUV700 has emerged as the executive SUV with the best resale value in the segment.
This is the fourth edition of the study, which analyzes the real-world resale values of vehicles sold across India. The report examines vehicle depreciation over a five-year ownership period using actual transaction data from cars sold through Spinny between January 1 and August 31, 2025.
Mahindra XUV700 Leads in Resale Value
Among executive SUVs, the Mahindra XUV700 delivered the strongest overall performance across all variants. Its petrol variants, in particular, recorded the slowest depreciation over the past four years.
One-year-old XUV700 models are currently selling for only 15–16% below their original on-road prices, highlighting the SUV’s strong demand and excellent resale value.
In comparison, the Tata Harrier and MG Hector have experienced significantly higher depreciation. Five-year-old examples of both models typically sell for less than 50% of their original purchase price. Meanwhile, the Mahindra Scorpio N has also retained its value better than several competitors. Overall, the study found that Mahindra SUVs depreciate at a slower rate than comparable Tata SUVs.
Average Resale Prices
According to the study, the average selling prices of executive SUVs sold through Spinny were:
- 5-year-old SUVs: ₹12.6 lakh
- 3-year-old SUVs: ₹16.80 lakh
- 1-year-old SUVs: ₹18.84 lakh
The average depreciation during the same periods was:
- 5 years: 50%
- 3 years: 36.41%
- 1 year: 22.90%
Study Methodology
The Autocar-Spinny Used Car Study analyzed the average selling prices (ASPs) of vehicles sold through Spinny across nine major Indian cities: Delhi-NCR, Bengaluru, Hyderabad, Pune, Chennai, Mumbai, Lucknow, Ahmedabad, and Kolkata.
Depreciation was calculated by comparing a vehicle’s original on-road price in its year of manufacture with its resale value in 2025. For models available with multiple engine options using the same fuel type, the data was consolidated and averaged across all variants.
The study excluded discontinued models, discontinued powertrains, electric vehicles, premium vehicles priced above ₹30 lakh, and low-volume models due to limited transaction data and insufficient sample sizes.