Naveen Soni, Senior Vice President, Sales and Service- Toyota Kirloskar Motor, said in a statement, JSW MG Motor India has introduced the Assured Buy Back Programme that is the industry’s first of its kind, and this programme provides customers with an assured upfront buy-back amount. With this program, MG is also the first carmaker in India to introduce a guaranteed buy-back on EVs in the form of 50% within three to five years, before it becomes applicable. The move is intended to eliminate one of the largest hurdles to the adoption of electric vehicles’ resale value and offer customers more confidence in their purchase for the long haul.
The revised programme offers EV buyers flexibility to select assured resale options of three, four or five years as per their ownership timeline. MG ensures a resale value between 40% and 60% at the end of a chosen tenure. Crucially, the scheme operates without recourse to loans or finance packages so customers have complete freedom in the way they own and run their vehicles. That provides certainty of financial planning and avoids depreciation uncertainty.
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Extending another industry-first, it also includes commercial electric vehicles. Commercial MG ZS EV buyers can also avail assured resale benefits of up to three years or 60,000 km each year. At the end of the lease period, customers can keep, return or replace their vehicles, making EV ownership hassle-free and promoting faster electric mobility adoption in India.
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