How is the resale value of Toyota Prius?
By: Vinay on 16 october 2014
First of all there are not many of it are sold in Indian market. It could be due to very high price compared to what it offers. The person who can spend 45Lakhs for a luxury car would never worry about fuel expenditure.There are very few rich people with environment concerns and a sense of style statement of owning a updated technology at its best would offord to go for the same. Probably as a second car in the house garage for special outings. Considering overall factors like on road price, technology used, number of units sold and hence probability of the same to be available as used car, You can expect a good resale value with depreciation of 10 percent per anum. It also largly depends upon owners willingness to sell it off.
Although Prius is a flagship car of Toyota, it has got only a specific buyer group as it paramour. The technology geeks and hybrid lovers are the only ones who buy this car. So, the availability of used Prius is quite limited in the market. So, one can expect to get a decent price for his Prius. But since the demand is also not that much for hybrids still in the Indian market, one cannot expect to make a good fortune out of it either.
Toyota is a renowned brand for making safe, durable and reliable cars. The after sales service of Toyota is also unmatched. Due to these facts, the resale market has got good respect for toyota cars. But, that's not the case with Prius. Although, it is a great car with hybrid technology and impressive fuel economy, one can not expect a lot of buyers for it. Hybrids, being a new concept for indian market, are not that popular. However, a Prius can garner around Rs. 15-18 Lakhs or so after running 30,000 odd kms.
Apart from strong brand identity and proven track record in durability and performance the vehicle has great and high resale value. The dual fuel system (hybrid / electric motor) and strong suspensions (Macpherson struts and torsion beam) are reason enough the car value is still retained at high premium. Moreover the backup guarantee and warranty on purchase re-establish faith in the vehicles high resale value too. The vehicles proven performance and reliability too works to enhance the value in terms of resale.
There are not much car enthusiasts who agrees to buy prius as a second hand option. Only a particular class of people want to go for such costly hybrid cars that too as a used one. Prius costs a whooping 45 lacs on road with the main benefits of mileage and dual motor. But a person who is spending such a huge amount would care least about the mileage. The less popularity of Prius in India makes it even lesser popular in used car market. With a depreciation of 10-15 percent per year, you can calculate the resale value of your owned Prius.
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