Quick reads
- Eligible vehicles include the Syros EV and the Carens Clavis EV.
- Fully imported models like the EV6 and EV9 are excluded from this initiative.
- Buyers can choose flexible tenure options of three or four years.
Kia India has widened its assured buyback programme to cover the electric models it produces locally in the country. Buyers can lock in a residual value of up to 70 percent after three years. The move targets a common worry around electric cars in India, which is what the vehicle will fetch when it’s time to sell.
Which models are covered
The expanded programme specifically targets the locally produced electric lineup. Buyers of the Carens Clavis EV can now take advantage of the buyback scheme. The Syros EV has carried a similar benefit since it launched in July. The EV6 and the EV9 are left out. Both are flagship models that Kia brings into the country as fully built units, and they do not qualify for the scheme. The primary objective is to make accessible electric cars easier to adopt by shielding owners from steep depreciation.
Residual Value and Tenure Options
An eligible electric Kia can fetch an assured buyback value of up to 70 percent after three years, subject to terms and conditions.
Kia provides flexible tenure options to accommodate different ownership cycles. While Kia ICE car buyers have more choices, electric vehicle owners can select plans spanning either three or four years.
Mileage Limitations and Administration
To maintain the guaranteed value, the programme includes mileage limitations, with the available options including 10,000 kilometers, 15,000 kilometers, and 20,000 kilometers per year. The maximum cumulative mileage allowed over the entire ownership period is capped at 1,00,000 kilometers.
Customers can enroll in the programme through participating authorised dealerships at the exact time of purchase. An independent partner administers the entire valuation and settlement process. Therefore, the final vehicle handover must comply with the condition guidelines outlined in the initial agreement.
What it means for buyers
Extending the assured buyback programme to more models in the portfolio can prove to be a solid move by Kia India. Long term depreciation is the biggest apprehension among early electric car adopters, mostly because it is so hard to predict. A guaranteed price removes much of that guesswork. Owners can plan their next upgrade with more confidence, and those still weighing the switch may worry less about what the used car market will offer them later.
