Check your Thar's value retention
Select year, kilometres and fuel type to see what percentage of the on-road value this car typically holds. Retention percentages are refreshed monthly from wholesale transaction data. For a rupee price band on your specific car, use the valuation calculator.
Thar depreciation curve, year on year
The Thar depreciates roughly 15% in year one, another 10% in year two, then approximately 7–8% per year through years three to five, tapering to 3–4% per year after year seven. Five-year retention lands at about 66% and ten-year retention at about 45%, compared with a segment average of about 49% at five years and 28% at ten. The chart below shows retention at 20 half-yearly points across the first ten years.
Thar variants and ex-showroom pricing (2026)
Current Thar variants and on-record ex-showroom prices, alongside the residual rupee value each variant is expected to hold at the five-year and ten-year mark, using the aggregate depreciation curve for this model. Retention rupees are approximate and assume a 25,000–50,000 km at five years / 75,000–1,00,000 km at ten years usage pattern with a clean service record.
| Variant | Fuel | Gearbox | Ex-showroom (₹L) | 5-yr value (₹L) | 10-yr value (₹L) |
|---|---|---|---|---|---|
| AX (O) D 2WD HT | Diesel | MT | 10.55 | 6.96 | 4.75 |
| AX MT D 4WD ST | Diesel | MT | 13.43 | 8.86 | 6.04 |
| AX(O) D MT 4WD CONVERTIBLE | Diesel | MT | 14.16 | 9.35 | 6.37 |
| LX D 4*4 MT HT | Diesel | MT | 15.07 | 9.95 | 6.78 |
| LX D 4WD AT CONVERTIBLE | Diesel | AT | 16.40 | 10.82 | 7.38 |
| AX P MT 4WD ST | Petrol | MT | 12.92 | 8.53 | 5.81 |
| AX (O) P 4WD MT CT | Petrol | MT | 13.59 | 8.97 | 6.12 |
| LX HT PETROL 4WD MT | Petrol | MT | 14.28 | 9.42 | 6.43 |
| LX P 4WD AT CONVERTIBLE | Petrol | AT | 15.74 | 10.39 | 7.08 |
| LX PETROL HT 4WD AT | Petrol | AT | 15.76 | 10.40 | 7.09 |
City-wise price variance
Resale values for the Thar vary by 3–5 percentage points across Indian metros, driven by supply-demand tightness, RTO transfer friction, and CNG infrastructure. Numbers below are deltas against the all-India mid.
What drives the Thar's resale value
The third-generation Thar, launched in October 2020 on Mahindra's new ladder-frame platform shared with the Scorpio-N, replaced a far more rudimentary predecessor and transformed the model from a niche off-roader into a genuine lifestyle SUV. That shift is the main reason the Thar now commands resale strength well above typical compact-SUV norms: it sells on image and capability rather than on feature-sheet competition with mainstream crossovers.
Long waiting periods through 2021 and 2022, often six to twelve months at launch, meant early buyers paid close to ex-showroom and used supply stayed thin for years afterward. That scarcity still shows up today: 2021 and 2022 Thars with low kilometres trade closer to their original price than almost any other SUV of that vintage, because so few changed hands in the first place.
Within the lineup, 4WD variants hold a clear resale edge over 2WD, since serious off-road buyers specifically seek out the shift-on-the-fly transfer case, and the diesel mHawk engine remains slightly more sought after than the mStallion turbo-petrol for long-distance and off-road use, even though petrol take-rates have risen in cities. Automatic transmission Thars, a relatively recent addition, are still a minority of used-market supply and trade at a premium where available.
The Thar's soft-top and hard-top body styles, limited rear practicality, and firm low-speed ride are known trade-offs that matter less at resale than they would on a family SUV, because the buyer pool is self-selecting. The 2024 launch of the five-door Thar Roxx expanded the nameplate's family appeal but has not meaningfully dented demand for the original three-door, which continues to be bought as a dedicated weekend and off-road vehicle.
How TheResaleValue calculates these numbers
Resale bands aggregate wholesale transaction prices across Indian metros, refreshed monthly. Age is calculated in whole years from the manufacturing date on the RC. Kilometre bands are self-reported and rounded to the nearest band. City adjustments apply an RTO-level multiplier on the all-India mid.
Note: These are informational fair-market bands, not offers to purchase. For a binding valuation, use the valuation tool. Read the full methodology.
Frequently asked questions
What is the resale value of a Mahindra Thar in India?
A well-maintained Thar retains approximately 83% of its ex-showroom price after two years, 77% after three years, and 66% after five years, among the strongest retention of any SUV in its price bracket. For a 2022 LX diesel 4WD with 25,000–50,000 km, the current fair-market band is roughly ₹8.41–9.68 lakh.
Does the Thar hold value better than other compact SUVs?
Yes, significantly. The Thar's three-year retention of around 77% is roughly 14 percentage points above the compact-SUV segment average of 63%, driven by its cult following, long launch-period waiting lists that kept used supply thin, and genuine off-road capability that mainstream rivals don't offer.
Is diesel or petrol Thar better for resale?
Diesel 4WD variants command a small but consistent premium over equivalent petrol Thars in the used market, since serious off-road and long-distance buyers specifically seek out the mHawk diesel. The gap is narrow, typically within 5–6%, and has closed further as the mStallion turbo-petrol's urban take-rate has grown.
How much does a Thar depreciate per year?
Roughly 10% in year one and a further 7% in year two, noticeably slower than the typical SUV curve. By five years a Thar still retains about 66% of its ex-showroom value, compared to a segment average of around 49%.
Which city gives the best resale price for a Thar?
Bengaluru currently trades at approximately +4% above the national mid, reflecting a strong base of young, off-road-oriented buyers, with Delhi NCR and Pune close behind at +3% each. Kolkata is the softest market at around −2%.
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