MG ZS EV: Falling resale value raises questions on buying another EV

I'm getting offers in range of 7.5L to 11.5L for a 5-6k KM driven vehicle which is just ~7 months old and a top-end.

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Rant: I kinda started to regret buying this vehicle. It's been like things have been going down hill with this vehicle (or EVs in general).

So I bought it in Dec. There were price cuts in following months and then, a new model with minor feature changes got launched and even a variant with sun-roof which used to be on higher variant is now available in lower trims and what not basically leaving the top-end model for only folks that need ADAS and other things that would not be really used as much.

Essentially devaluing existing vehicles value significantly just within a few months and now there's news about the CUV launch which would be under 20L and similar battery pack and range. So that should further kill the value of ZS EV.

I know prices can go down and they do (and It may also be good overall for the EV market) but the value drop of this vehicle is kinda higher than others. Resale value is so low that the losses outweigh the savings from EV compared to ICE.

The seats are not so comfy either which has been a major issue for us.

Overall, this is starting to feel like a bad choice. In terms of running cost, it's a no brainer it is actually saving and the driving pleasure of EV, there's no question. Unless we keep this for a long-term, this may not be a worthy purchase and it doesn't look like we'd be keeping it for long considering other EV launches which seem much better upgrades, we'd likely have to take a hit on this one.

It sure was overpriced and it did correct multiple times but it keeps correcting its price. It's a free-fall at this point which is not good for the owners.

In my particular case of XUV700, I got mine at introductory price due to which I'm not losing as much value despite the price correction and usage for a good 3 years.

In case of this EV, I'm getting offers in range of 7.5L to 11.5L for a 5-6k KM driven vehicle which is just ~7 months old and a top-end. Sure I understand vehicle value depreciates but to this level? It's a combination of battery prices going down, price correction in general by MG and overall EVs market which makes this whole sector seem like its better to stay away until things are ICE level and stable.

I do have an itch to upgrade but looking at how this vehicle has ended up economically speaking, it seems like a bad idea to upgrade to another EV (I was looking at moving to a luxury EV and hold on to it for a few years).

ZS EV may have some good features but it definitely isn't good in terms of ride quality/comfort due to their seats. It's a decent city vehicle. Going outskirts with it for a long drive and on Indian roads, it does cause fatigue more than it should driving a SUV. This is obviously based on my ownership experience in last several months having driven and used various cars of different sizes.

Anyway, This vehicle was purchased during a time when my XUV700 was being repaired due to an accident and I needed some vehicle urgently at the time and EV had caught my attention. It served its purpose. It def. caused more losses than anticipated.

For new buyers: unless you're looking to hold on to your EV for long-term, you should be very cautious due to market uncertainty and especially MGs multiple price corrections which may look good for new buyers but good luck to the new owners

And it may seem like you're saving good with EVs (which you would actually in long-run) but when prices correct so many times and you lose value significantly, all your savings get flushed down the drain and it just feels like any other ICE car would've been far more worthy even if it was gulping fuel and you'd get mileage in single digits like with XUV700 Petrol, it would still be far better. It's just a heads up to prospective buyers based on personal experience. Otherwise, it's a decent vehicle without a doubt!

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