Taycan depreciation

[007]

I don't know about UK. Here in mainland Europe, I got 6% without great effort but 12% sounds very steep especially in high valued cars. A family member used to work as SA for both Mercedes and Seat. While Seat would give 5% commission on sales, Mercedes would only give 2% over the base price (without options) which wasn't terribly appealing back then. A middle trim Seat would give the SA as much commission as a Mercedes at double the sale price.

Not sure there's even 12% to discount.

Same in Poland… 6% to 7% on new orders is possible, although it might depend on model. Dealer once told me they make 10% on new car sales (not sure if that’s true or not). Last year’s demos often at a larger discount.

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[BigBob]

I'd assumed it was a joke...it better bloody had be! ?

Sorry. Bloody spell check, I meant to type a phone charger cable and it came out as 12% discount!!

 

[R Benny Waered]

Don't be afraid to ask - especially if finance rates have doubled, killing your budgeting and affordability...

 

[Fish Fingers]

Sorry. Bloody spell check, I meant to type a phone charger cable and it came out as 12% discount!!

Bloddy spell cock - useless!

 

[Jon101k]

Currently, and I hope it will change, you can expect about 40% down in year 1 IN UK.

Motorway selling site now offering me £59k for a £103k 17month old car. They were offering £74k in Jan. I declined then as I expected & needed £85k based on the £90k suggested by dealer in Oct 2022. I cancelled the GTS as I couldn't risk 2 tumbles in one day...

All the tax saved goes to the next owner and this was no great deal...

Love the car so will just keep it and hope for a £60k loss over 5 years or so - far more palatable.

Similar story here, I’m in the UK, but I didn’t purchase new as I wasn’t looking to keep the car long and wanted to skip the normal first years hefty depreciation.

That’s not saved me though, got the car 7months ago and being offered £30k less than purchase price!

My last car was a Tesla which I bought new, had for about 10months, did more mileage and that only lost £12k so doesn’t feel at all proportional to me. Tesla are also EVs and have a flooded second hand market due to leases ending. I’m sure all the issues with the Taycans has damaged resale value.

Had some hope the badge would hold value but I’m now going to have to keep the car for at least another year or two in the hopes it levels out. Mrs just strarted driving so finally had the green light to go 911 as well!

 

[TaycanSimon]

Hi All, is it me or has there been a significant price reduction in used vehicles? Apparently it started when Tesla reduced new by 15%. If prices drop by much more, it makes you think if Petrol engines are better value in terms of depreciation.

Interesting to hear different views. It seems that the Porsche Dealers have too many used in stock, which isn’t helping. There’s definitely no discount in the UK, other than including some sort of insurance.

 

[R Benny Waered]

There’s definitely no discount in the UK, other than including some sort of insurance.

I definitely disagree...?

Plus, for reasons stated previously is it right that Porsche expect to waltz on as if nothing is happening economically or that residuals aare going through the floor? Much as they'd love to?

 

[Hanny]

I have only heard of price increases from Porsche in the UK, as yet not come across discounts solely on sale, that’s excluding any ‘shadow’ discounts that are related to either Porsche finance or a trade in etc.

 

[tchavei]

Don't know how it's in the UK but here in Portugal, Tesla slashed prices again.

The same Model 3 that was costing €55.500 in March, can now be bought for €39.990!?

I don't know how anyone can, at this point in time, say that Tesla will hold any value. Heck, imagine people who bought a model 3 early March...

Heck, yesterday I was watching a weekly car show on TV where they were presenting the "new" Chinese Aiway U5 EV at whopping €42.585...

And besides... Maybe it would be better to compare depreciation in % because losing €15.000 on €120.000 car isn't the same as losing €12.000 on a €39.990 one.

 

[R Benny Waered]

I have only heard of price increases from Porsche in the UK, as yet not come across discounts solely on sale, that’s excluding any ‘shadow’ discounts that are related to either Porsche finance or a trade in etc.

I think that WAS the perceived wisdom mate when times were good. Now its a glut of used cars, reality biting on EV tax perks affecting used values, many cancelled orders due to recession with huge interest rates + now abysmal residuals where once it was 'overs'... Why would you not ask? I wont comment further.

 

[Hanny]

Don't know how it's in the UK but here in Portugal, Tesla slashed prices again.

The same Model 3 that was costing €55.500 in March, can now be bought for €39.990!?

I don't know how anyone can, at this point in time, say that Tesla will hold any value. Heck, imagine people who bought a model 3 early March...

Heck, yesterday I was watching a weekly car show on TV where they were presenting the "new" Chinese Aiway U5 EV at whopping €42.585...

And besides... Maybe it would be better to compare depreciation in % because losing €15.000 on €120.000 car isn't the same as losing €12.000 on a €39.990 one.

Tesla pricing strategy/policy is Worldwide, looks like most countries have had a cut in new Tesla price, Tesla obviously has a strategy behind it but probably main one is to try and undercut the competition.

As for the Chinese EV manufacturers, do a search on YouTube as there are some alarming issues with their quality consistency and there have been a few catastrophic outcomes.

Depreciation as far as I have know has always been in % terms, certainly in the UK.

 

[tchavei]

Tesla pricing strategy/policy is Worldwide, looks like most countries have had a cut in new Tesla price, Tesla obviously has a strategy behind it but probably main one is to try and undercut the competition.

As for the Chinese EV manufacturers, do a search on YouTube as there are some alarming issues with their quality consistency and there have been a few catastrophic outcomes.

Depreciation as far as I have know has always been in % terms, certainly in the UK.

I quoted the Chinese example as Tesla currently managing being cheaper than no name brands from the far east.

 

[Donlam]

If I worry about depreciation everyday I wouldn't purchase a new high end car. A Toyota Yaris would be much suitable to someone who want to keep the depreciation minimum.

 

[RKZ]

depends on what you want your car for. I buy cars to drive and enjoy them, not as an investment.

Completely agree with your comment. Having said that, we are all relatively early adopters and it is clear that as battery technology advances, our current leading edge Taycans will likely depreciate rapidly going forward. But, as you said, we do not buy these vehicles in 2023 as sound investments. We buy them to enjoy them. I do not in any way regret my decision to buy my '23 4S but I do believe that I might have been more financially astute to have leased the vehicle so as to not deal with a potentially rapidly declining residual value. We shall see. In the meantime, I love my Taycan and rarely think about the cost.

 

[amazing]

But, as you said, we do not buy these vehicles in 2023 as sound investments. We buy them to enjoy them. I do not in any way regret my decision to buy my '23 4S but I do believe that I might have been more financially astute to have leased the vehicle so as to not deal with a potentially rapidly declining residual value.

I agree with you that I didn't purchase this as an investment, but to enjoy it. Coming up on 2 years of ownership of a '21 4S I am faced with a decision: It seems like either sell the car now for over 1/3 less than purchase price, or hold on to it and keep driving. It has low cost of ownership (other than tires ?); I guess the question I'm asking my self is: Will the depreciation curve flatten at all? Porsche is raising prices on new Taycans, but also there will be a model refresh in '24 and it seems generally most EVs aren't holding value the same as ICE vehicles.

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