New Delhi, April 25 -- Electric cars are losing the battle to their conventional fuel counterparts in India's used-car market, as their resale value is simply not matching up to expectations despite having fewer moving parts, with battery concerns and influx of newer electric models playing their part.

According to used car aggregator platform Spinny, if an electric model made in 2023 is resold today, its price would have fallen somewhere about 23%. Comparatively, ICE (internal combustion engine) model would see 20% depreciation.

Used car marketplace CARS24 says that while three-to-five year-old popular ICE car models retain more than 50% of their original value, the same is not the case with EVs.

In fact, data sourced from Spinny sugg...