Taycan Sales Declining

[rich_r]

I found a one year old Neptune Blue CT4 totally optioned out with limited use for $30,000 under MSRP.......... I had to pull the trigger.....CT4's are hard to find in rare spec's.......

Nice find. I’m jealous - that’s my favorite color

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[EVmaniak]

Yep same for mine. Paid $140k for a very low mileage CPO Taycan 4S and was proposed recently between $70K to $99K and no more ... after 8mo of ownership.

That is indeed like the Titanic ...

The Taycan was a huge mistake as my 2015 911 is still holding its value while my 2021 Taycan is sinking like the titanic.

 

[EVmaniak]

Come to California, there's no shortage of options. . .it's definitely regionally based.

Exactly ! There are plenty on the lot in the SF Bay Area ... demand is cratering as well as the used value.

 

[snstevens]

I found a one year old Neptune Blue CT4 totally optioned out with limited use for $30,000 under MSRP.......... I had to pull the trigger.....CT4's are hard to find in rare spec's.......

Great! Share photos when you can...

 

[Archimedes]

Yep same for mine. Paid $140k for a very low mileage CPO Taycan 4S and was proposed recently between $70K to $99K and no more ... after 8mo of ownership.

That is indeed like the Titanic ...

You paid $140k for a used 4S eight months ago?

 

[Archimedes]

Exactly ! There are plenty on the lot in the SF Bay Area ... demand is cratering as well as the used value.

Funny how normal inventory levels seem like a lot relative to pandemic shortages. My local dealer has cars on lot and in transit, but appears to be having little trouble selling them. Obviously now that inventory levels are returning to normal, used car values are going to reflect typical luxury sedan depreciation as well.

 

[EVmaniak]

You paid $140k for a used 4S eight months ago?

Yes I did, it was roughly mi October, 2400mi only and with some good options including Burmester and Olea Truffle Brown leather and Neptune Blue color.

 

[Archimedes]

Yes I did, it was roughly mi October, 2400mi only and with some good options including Burmester and Olea Truffle Brown leather and Neptune Blue color.

Which means you paid close to sticker for a used car at a time when values were already falling. Which is why there’s such a big gap to what it would probably resell for today, about $105k retail. Normal depreciation for a luxury sedan is about 10-15% for drive off and then 15% per year for the first few years.

 

[EVmaniak]

Which means you paid close to sticker for a used car at a time when values were already falling. Which is why there’s such a big gap to what it would probably resell for today, about $105k retail. Normal depreciation for a luxury sedan is about 10-15% for drive off and then 15% per year for the first few years.

No I did not pay close to sticker. MSRP was like $149K and it was a CPO.

Depreciation is $41k in 8mo ... not a standard curve for such a car. Actually last month Taycan prices were down 4.2% for that month only.

BTW there was no allocation available and all the Taycan were sold almost immediately and the prices were very strong and stable in October 2022. Having $9k down from MSRP was already pretty good as a lot of Tacans were selling at $1k around MSRP for used CPO or not.

The real issues with the Taycan are the following:

1) Tesla engaged in a price war with the Chinese OME and lowering its prices for new cars all the time and putting a lot of pressure on all the used EV market.

2) Taycan demand is flattening, especially in California where you can see plenty of them on the parking lots.

3) Porsche FS is playing a very dangerous game for residuals and hurting the market too; I got from my dealership the following numbers recently for a Taycan GTS: 36 or 39mo 5k miles residual is 54% and 12k miles residual is 51% ...42mo and 12k miles is 47% ... That's a no no.

4) the overall used car market is going down now.

5) Electrify America being so bad that most OEM are going to the NACS route to be an able to deliver a correct experience to EV owners on road trips. That is impacting all CCS1 car already.

 

[Archimedes]

You overpaid for a used car. If you compare current retail price (not your trade in offer) to MSRP, the depreciation is probably dead on what I said.

You got burned by believing the pandemic nonsense was going to continue. It’s over. It’s even starting to hit the sports cars, with cars starting to flood the used market and nothing selling.

My 2022 $142k 4S is 20 months old right now and my SA says they would sell it at retail for $105-$110k right now. Typical early depreciation for a luxury sedan.

Pre pandemic, ie normal times, I had dealers offering me leftover NEW 2020 Taycans at 15%+ off sticker.

 

[Jagu]

I just paid $89k for a pristine 2021 CPO 4s with an msrp of $146k with only 14k miles on it. So glad I waited.

 

[Jono]

Data is here: https://insideevs.com/news/676567/us-porsche-taycan-sales-2023q2/

I think it depends entirely what market and what city they are looking at. My sons elementary school alone has at least 10 different Taycans that I've spotted, with around 4 of them being added since the start of the school year here (Feb).

 

[RingoDingo]

Easy come, easy go. I think about it as such... I bought my Tesla Model 3 Performance for $61k in 2020 and then sold it for $63k in 2022. I suspect that if I had held onto that car and sold it today, I'd probably get high 30s for it. My Taycan 4S cost me $120k new... if I sold it today, I'd be lucky to get high 80's for it. Putting it differently, had I kept my Model 3 Performance for an additional 2 years and traded it in for a used 2022 Taycan 4S, I'd probably pay $$50-60k for the privilege. And that's roughly what my delta was 18 months ago, when I bought my brand new Taycan and, instead of having to drive a used Tesla for the past 18 months, I got to drive a brand new Porsche. So, I'm not really worried about it - things were crazy for a while, and now they're not.

 

[whan]

I generally feel the same way. I’ve typically had pretty good luck with car depreciation in the past, but I knew coming into it this was going to be the opposite. Big luxury sedans always do terribly, and is not specific to the Taycan. For comparison, look at used prices of the 2022 Mercedes S class. Looks like you can pick up S500s for around $90k. Most of those cars were probably 120-130k MSRP cars, so have also lost $30-40k. Also keep in mind interest rates are very high right now, which is an additional factor

On my end, I’m more just annoyed I ended up taking delivery of a MY2022 right at the end of 2022 (1 day after xmas), due to the delays I faced last year. But then again, I avoided the 2023 price increase and still got the $7500 tax credit. Ideally if I had been rolled over to MY2023 at the MY2022 price that would’ve been perfect (know they did for some people’s orders that got delayed). But assuming I keep the car for a while it probably won’t matter much anyways

 

[Bertibasset]

In the UK we have a Government with no clue, high interest rates and a cost of living crisis for many.

Haha true but at least we don’t have a President to worry about

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