Best cars for different budgets to buy in 2023

The post-Covid surge in car sales has gained new traction in the past year, not just in gasolinebased vehicles but also in electric cars. The total passenger vehicle retail sales rose by nearly 22% yearon-year in January 2023, as per the data from the Federation of Automobile Dealers Associations, while electric cars formed 1% of the market share in January 2023, up from 0.6% in the same period last year. The resurgence of sales is not limited to new launches, but also includes older versions and facelifts of successful models. Maruti Suzuki continues to retain the largest market share of 46% in gasolinebased cars, while Tata Motors holds sway in the electric car segment.

However, new players like Nissan, BYD and Citroen are set to make inroads in this segment. If you haven’t already bought a new car in the festive season and are planning to pick one soon, ET Wealth can help you take an informed decision. In collaboration with Cardekho.com, we present a listing of the top five cars in three price segments: below Rs.10 lakh, Rs.10-20 lakh and Rs.20-40 lakh. As a new addition this year, we also bring the top five electric cars that you can pick depending on your budget and style. We have avoided the price bands in this segment due to limited options, while including both affordable and luxury segments.

Though the top favourites from Maruti Suzuki, Tata Motors, Hyundai and Kia Motors hold no surprises, you can check out some unexpected entries like Citroen and a few new launches that are in the offing. Besides listing the prices, variants and standard specifications for all cars, we have also calculated their running costs per month in Delhi, resale values after three years of usage, and EMIs for five-year loans, to help you make a more cost-effective decision. For the cars that are yet to be launched, we have taken estimated prices and mileages to carry out the calculations. Though we do not encourage taking loans for depreciating assets like cars, you could consider these if your need is immediate, especially if work from home is no longer an option.

Despite the low cost of running, the initial price difference between the gasolinebased and electric cars is stark, acting as a deterrent for buyers. However, new players like Renault and Nissan are trying to bridge this gap by bringing in affordabe, entry-level cars, even as battery quality and charging infrastructure are improving. So if you are keen on jumping on to the green bandwagon, consider these options. If you are still making up your mind, go through the following pages to arrive at a quick decision.

Also read: Top 5 cars under Rs 10 lakh to buy in 2023
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Also read: Top 5 electric cars (EV) between Rs 8 lakh and Rs 2 crore to buy in 2023