Taycan Values.

[whitex]

(probably because I am not eligible for any of these unearned bonuses and had to pay full price for mine with my own money )

Funny. I almost entirely eliminate any cars which have government incentives for which I am ineligible for, as possible purchases. The main reason is instant depreciation hit of whatever the incentive is. Why would I want to buy a $40K Tesla if most other buyers get it for $32.5K? I recently faced such a decision, went with 2 ICE cars instead or 2 EV's - better value for my money as there were no incentives for the ICE cars. So did the government incentive work as planned here? I don't know, I don't pretend to understand politicians, but something tells me no. I just go with what the government decides, who am I to go against the will of the people who apparently preferred that I buy 2 ICE cars instead of 2EVs. Power to the people!

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[FlyingPoint]

What can anyone say about this depreciation situation? Most folks had the option to hedge but chose not to lease. The reason, I don't want to speculate but it is irrefutable that a hedge existed.

I was one of the relatively few drivers that took delivery prior to COVID being an issue. Car prices were still "normal" for new and pre-owned. I chose to lease simply because no one really knew what the residual market would be on a new EV from Porsche. I didn't mind paying the cost of capital difference - it was like an insurance policy. My residual was 50% after 39 months, I knew my total cost the day I took delivery. If my car was valued less at the end of the lease, hand them the key's. If it was worth more, buy it out at lease termination. Pretty simple, no anxiety, just a reasonable approach to the demand for any new product offering.

 

[Studogg22]

What can anyone say about this depreciation situation? Most folks had the option to hedge but chose not to lease. The reason, I don't want to speculate but it is irrefutable that a hedge existed.

I was one of the relatively few drivers that took delivery prior to COVID being an issue. Car prices were still "normal" for new and pre-owned. I chose to lease simply because no one really knew what the residual market would be on a new EV from Porsche. I didn't mind paying the cost of capital difference - it was like an insurance policy. My residual was 50% after 39 months, I knew my total cost the day I took delivery. If my car was valued less at the end of the lease, hand them the key's. If it was worth more, buy it out at lease termination. Pretty simple, no anxiety, just a reasonable approach to the demand for any new product offering.

Good point, yes, but I don't think leasing is/was an option when I buying used/CPO, which pertains to me and many others. New purchases, sure. I also want to point out generally that remarking on the pace and quantum of the depreciation is not mutually exclusive to the explanations on why it happened. It's possible to both have expected the depreciation, be able to explain the depreciation, not suffer any practical consequences of the depreciation, and at the same time not feel great about that depreciation (and possibly want to commiserate with others). That's where I am. I paid cash for my dream spec as CPO, expected to 'lose' a good chunk of money, the loss has no practical bearing on me, and yet I still don't enjoy the reality of that part of the equation and find comfort in knowing I'm not the only one.

 

[MAPC]

Here we go again, another thread on depreciation.

You bought an overpriced 4 door luxury/sporty EV at the most expensive time (Corona). Yes, it will depreciate a lot. Also, the price offered is the purchase price of the dealer not the actual sell price, so you can't compare it with the 107k you paid. They will probably buy it for 55k and sell it for 65-70k. They are a business, not a charity.

100% here--I have commented on this in another thread. While I sympathize with major depriciation, there are three factors that are often not being considered:
1-the CORONA factor. As an example of the abnormality of this period, I spec'd and ordered a Macan GTS in fall of 2020. Took delivery. Enjoyed it for 18months and was then offered more than I paid when I traded it in on a new Defender (which I was able to get at straight MSRP so no gamesmanship here). NEVER in history has this happened (by and large) and likely NEVER again
2- can't compare apples and oranges, meaning comparing what someone paid (RETAIL) to what they are offered on trade (WHOLESALE). Dealers have costs to take it in, to recondition, to add CPO (if they so choose), carry costs for the $100K or so that they pay for the car and, oh yeah, they have to make a PROFIT
3- nearly ALL luxury cars depreciate like rocks in year 1. Look at the stats for A8, 7 series, S class, Maserati, Tesla S/X.....they ALL drop substantially in Year 1.

For me, since I trade in/out of my cars often (yes, it is an illness!) I typically buy used (examples above were exceptions) so that I avoid the 'depreciation cliff'.

 

[Fish Fingers]

The market is as warped negatively as it was positively a couple of years back.

No idea what will happen going forward (Brent crude is up about 5% today) but I personally will carry on enjoying my Taycan and see the depreciation curve flatten.

 

[RGBArgee]

This may be interesting to anyone who hasn't put down their hard earned cash yet.
So i bought my taycan 4S cross turismo (my23 my personal spec) in dec 2022, it is a well specced car that i paid £107k for (before the price hike), i love the car but i am having issues with the fan and heater and now i'm completely locked out of the car!
Having seen various reports on Taycan depreciation i asked the dealer from whom i bought the car to give me a valuation, wait for it....They offered me £55k and the car is as new with 2500 miles on it! Now i knew the car would depreciate but 50% in a year!
My advice would be to get out while you can, its an amazing vehicle but no one can afford to lose that kind of money in such a short amount of time. i cant see them shifting barely any Macans at this rate and the Taycans keep piling up.
To put this in perspective i was offered £45k for a 5 year old macan turbo approximately 18 months ago.

I would hang in there if you can. We have an unsettled economy, Middle East and Ukraine issues and a General Election coming. Bailing out now doesn’t seem sensible to me!

 

[Donar]

I must admit 50% is a lot in one year. In November I bought a demo which was 11 months old with 6k km 30% below MSRP (and even more if you would configure it now).

Not the cheapest but it was almost perfect configuration.

I would never sell for 50% loss after one year if that was your plan and just drive it a for a few years more. All >100K cars used prices are dropping at the moment.

 

[unbiased]

Ask those Tesla Plaid owners about the value of their cars…
Yes, car depreciates quite a but but that is the reality of expensive cars. And even more so than expensive EVs. You guys remember that Apple introduced a super expensive variation of the first apple watch? It was in 5 figures. No one bought it and they never released such a high end model again. Why didn’t it sell well? No one though a first generation electronic gadget will hold any value because the iterations following it will change significantly.
Look at Lucid values…that will tell you same story.

 

[BMonte13]

An interesting thread but only relevant for those who change cars every 2-3 years which apparently is a lot of Porsche owners. My 2022 RWD is my daily and like all my cars I plan to keep it for 100K miles which is 7-10 years. I'll probably have to buy the extended warranty when the time comes, which I've never done (my last car was a 2015 Golf GTI which was a rock and only ever had a bad headlight at 80K), but that's the price of a Porsche.

 

[Donar]

Well luxury watches are also dropping a lot at the moment

@BMonte13 nice upgrade then!

 

[Panther1]

Is the timing really that bad though? How many people actually get a discount on a new Porsche.
I would be suprised if we see the facelift in 2024. I dont have to sell and i wont, there's nothing i could replace it with that would be better imo.

I would not sell, and like someone else get the issues resolved as it's under warranty anyway. You only lose if you sell. also why sell when there are so many on the market - simple demand and supply. Personally wait it out and get it repaired under the warranty. Also was it a personal or business purchase as if it's business then it's totally different set of numbers, business purchase you get AIA and then depreciation I think, I'm not an accountant that's another reason 3 years on cars have come back in bulk from company car buyers who are not too bothered as the figures are not as bad.

IS yours a personal or company purchase ... if company speak to your accountant

 

[ExTesla Driver]

Stop looking at the figures, enjoy driving. we will not spend on anything if we constantly look at depreciation. money comes and money goes.

 

[WuffvonTrips]

I feel like im the one that bought the 500 Betamax players ?

FTFY! But unfortunately without the option of flogging them off down the market like Del Boy.

 

[Jhenson29]

I feel like im the one that bought the Betamax player

I’m too young for Betamax, but I did buy my mom and aunt HD-DVD payers in 2006.

 

[GMarcs66]

I was a private buyer so i didn't receive any of the ev benefits, i would agree that the anti ev sentiment has gathered traction lately, its a real problem. I feel like im the one that bought the Betamax player ?

Until the government change the policy on 2nd hand evs being tax deductible this is only going to get worse.all the people i know with evs mainly the taycan and teslas all run them through companies. I’ve had mine 3 years down 65% . Great car done 30k miles but i wont be going into another EV. You lose less on a turbo gt cayenne.

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