The Nissan Magnite made a significant entry into the market in 2020 with its competitive pricing strategy, positioning itself below other sub-4-metre models and effectively creating a unique space. Its mechanically similar counterpart, the Renault Kiger, launched in 2021, adopted a comparable value-centric approach. However, it was the introduction of the Tata Punch later that year that truly refined and popularized the “sub-compact SUV” segment.
Used Sub-Compact SUVs Resale Value Study Results
Although depreciation rates are comparable, the Nissan Magnite holds higher average resale prices than the Renault Kiger.
In 2023, Maruti Suzuki and Hyundai joined the segment with their models, the Fronx and Exter. While it is still early to draw firm conclusions, recent trends indicate that the Fronx is depreciating at a slower pace compared to the Exter, likely due to its robust demand in the new car sector.
The Tata Punch, a top seller in the sub-compact SUV category, also maintains its value well in the pre-owned market. Notably, its petrol variants with an automated manual transmission (AMT) particularly retain their value more than many competitors, suggesting used car buyers are willing to invest more for the convenience of clutch-free driving.
Both the Nissan Magnite and Renault Kiger, positioned at the premium end of this segment, present options for naturally aspirated and turbo-petrol engines, complemented by AMT and sophisticated CVT automatic transmission alternatives. These models display parallel depreciation trends, with three-year-old examples losing about 31–35 percent of their initial value. It is worth noting that the Nissan Magnite achieves higher average resale prices than the Renault Kiger. Despite being built on shared platforms and engines, the Magnite evidently has a stronger foothold in the used car landscape.
Autocar India-Spinny Resale Value Study
This analysis is based on a collaborative study conducted by Autocar India alongside Spinny, a prominent used car platform active 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) based on actual transactions of 21,944 vehicles sold through its network during the 2024 calendar year. For the purposes of the study, if a specific model featured multiple engine options of the same fuel category or was available in several variants, these were amalgamated and averaged. The depreciation was determined as the percentage difference between a vehicle’s on-road price in its manufacturing year and its resale price in 2024.
Also see:
Used Toyota Glanza prices similar or lower than Maruti Baleno: Autocar-Spinny study
Maruti Dzire holds 70 percent of its price after 5 years: Autocar-Spinny study
Maruti Eeco CNG commands strongest resale prices among MPVs: Autocar-Spinny study
