Has the Taycan market bottomed out? Tried to get offers as I might pursue a Macan

[ansky]

As much as we love our ('23) GTS, we were thinking about getting a Macan EV later this year as we desperately need to accommodate a growing family, so when I went in for the battery recall check last week, I asked my buddy in sales to get me a number for the GTS in anticipation. They came back with a firm $95,000 so it piqued my interest and I made some calls around to a few more dealers in state. Same numbers, no budging.

Are we at the low point in value right now with various models with much higher range on the horizon? Lost ~60k in value in 12 months?

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[Studogg22]

I feel you as I lost (on paper) a comparable amount this past year on my 21 Turbo CPO. When you say 'low point' that makes me think that values would therefore be increasing... which I can't imagine would ever be the case. Do you mean is the pace of Taycan depreciation accelerating due to all these other competing alternatives, the most recent of which being the Macan EV?

 

[ansky]

When you say 'low point' that makes me think that values would therefore be increasing... which I can't imagine would ever be the case. Do you mean is the pace of Taycan depreciation accelerating due to all these other competing alternatives, the most recent of which being the Macan EV?

No I absolutely worded that wrong, I do not expect values to magically rise. That's a poor word/term choice on my part

 

[WuffvonTrips]

Don't know about the US market, but over here, in general (so not Porsche/Taycan/EV-specific) a 40% loss in the first year isn't unusual, and that was before the used market dropped. Add in that cost options have minimal value at resale, and that we have a glut of used Taycans coming off lease and new Taycans that are cancelled customer orders, then your offer seems reasonable from a UK point of view though of course very painful from your own.

 

[Donar]

Over here I see a lot of price adjustment till beginning of January, but last few weeks almost nothing. Looks like there was some kind of big market correction, but it’s kind of “stable” for now.

Of course “new” cars come on the market at already much lower price than 6 months ago.

 

[arijaycomet]

Having owned 2x Taycan vehicles now and only the first one (4S Sedan) was brand new -- I've been intimately aware of the prices on the market. So much so that I've also been contemplating trying to get rid of my 4CT right now with 38k miles to avoid any further value collapse.

Side note: with MMR/auction having not great data points for CTs in general, they get lumped with sedans, which have done poorly. Wagons are more unique, and Neptune blue a seemingly high demand color. So I may hold off selling mine for a moment -- that said my loss in 4 months would be "normal" and private party could potentially almost break even (less loss on sales tax and tires I replaced, of course)

Anyhow-- to your question -- I think we'll see continued depreciation -- but I suspect that with the heavy discounts others are finding on NEW units, we'll see hard year 1 and year 2 losses. It seems that once these hit 50% of value, like most EVs, they really hold solid. You said $95k trade and $60k loss, so your car was ~$155k deduced from your data. That means your wholesale value right now is 61% -- which is steep for first year, but I'd bet 2nd year wont change much, and years after, even less.

People will chomp at the bit to get a used Porsche, and new car prices are on the rise for the most part. There is not much competition in the Taycan space, and the nearest match we may see in USA (and EU/UK) will be the Polestar 4 with Perf Pkg unless you go even higher up market but into SUV/cross overs like the Lotus. So there will reach a point where around $50-60k USA may be the low end for a while, I think.

TL;DR
Your car will take less loss per year each year-- so the longer you hold onto it the less sting you will feel. Any new Macan will surely fare as poorly. Look at other EV SUVs and you'll see similar 30-40% first year price drops. Tread lightly!

 

[FlyingPoint]

If the Taycan refresh and great range is accurate, we won't be able to give our cars away.

 

[W1NGE]

Don't know about the US market, but over here, in general (so not Porsche/Taycan/EV-specific) a 40% loss in the first year isn't unusual, and that was before the used market dropped. Add in that cost options have minimal value at resale, and that we have a glut of used Taycans coming off lease and new Taycans that are cancelled customer orders, then your offer seems reasonable from a UK point of view though of course very painful from your own.

My uncharacteristic 'glass half full' view on this is that EVs are being burdened with 3 year depreciation in Year 1. Most Porsche's retain 50% - 60% (911s, specials more) after 3 years - Taycan should be no different if only to protect the brand. Those jumping ship early to the Macan EV on the pretense of greatly increased range will fall foul come resale if truly Porsche EVs are to be written down so heavily so early in their life. I guess private buyers get 'hurt' the most :-(

 

[Caraholic]

No they will continue to tank unfortunately. The new marketed range of the new one alone will sink it. It doesn’t help that the real range is not indicated for the old Taycan so the delta looks a lot larger then it is. I bought my turbo used and thought I was in a relatively good position with it. However I was wrong and it keeps sliding down the price curve. See it only getting worse when the new ones hit the street. With that said it’s still an amazing vehicle and I love it. At this stage I won’t really be shocked to see turbos at 50 end of next year. Was originally thinking this would take five years from last year to reach that point but I was wrong.

 

[W1NGE]

No they will continue to tank unfortunately. The new marketed range of the new one alone will sink it. It doesn’t help that the real range is not indicated for the old Taycan so the delta looks a lot larger then it is. I bought my turbo used and thought I was in a relatively good position with it. However I was wrong and it keeps sliding down the price curve. See it only getting worse when the new ones hit the street. With that said it’s still an amazing vehicle and I love it. At this stage I won’t really be shocked to see turbos at 50 end of next year. Was originally thinking this would take five years from last year to reach that point but I was wrong.

I worry that Porsche are handling this situation poorly and are happily discounting stock (UK dealers are awash with MY23 new cars) which is something they'd normally never do (in UK) to the point that the savvy private buyer might decide that a Taycan is not for me right now - perhaps in 3 years time. Many of us may decide to keep our cars longer until there is a step change in technology (in particular battery) than face the prospect of re-purchase for a vehicle that you know is going to plummet in value almost immediately.

Government strategy is also not helping - 2035 is our latest watershed date and so until that time EVs are the worst possible "investment" - no urge to jump on to the EV bandwagon.

 

[hitmonlee]

I don’t know about “a growing family” and a Macan (albeit an EV which iiuc is slightly bigger than the current ICE version).

Have you considered a Cayenne (maybe e-hybrid), or EV offerings from MB/BMW/Audi/etc?

 

[Donar]

No they will continue to tank unfortunately. The new marketed range of the new one alone will sink it.

I personally don’t think the new model is direct competition for the current used ones. Not sure that someone who is in the market for a used 70K current model Taycan is willing (or able) to pay double the price for a similar spec new version. And on top of that the new Taycan is most likely priced higher due to the larger battery.

New ones will probably be delivered early 2025. So before those took the first 2 year depreciation hit we are already living in 2027.

Having said that: if I was in the market for a new Taycan today I would definitely wait for the new model.

 

[007]

If the Taycan refresh and great range is accurate, we won't be able to give our cars away.

For anyone who wants to get rid of their Taycan now, before prices collapse to negative $0, I can help… regardless if it’s the worthless base, the near worthless 4s, the ugly GTS, or one of the falsely advertised “turbos”… I’ve got $20 cash-in-hand and, depending on where you live, I might even be convinced to fly in to pick it up in person. Act now, limited time offer, ends soon, available while my supply of $20 bills last*.

*other terms and conditions may apply. Not everyone will qualify. Excludes residents of North Korea and Russia.

 

[BJCanadaMax]

As much as we love our ('23) GTS, we were thinking about getting a Macan EV later this year as we desperately need to accommodate a growing family, so when I went in for the battery recall check last week, I asked my buddy in sales to get me a number for the GTS in anticipation. They came back with a firm $95,000 so it piqued my interest and I made some calls around to a few more dealers in state. Same numbers, no budging.

Are we at the low point in value right now with various models with much higher range on the horizon? Lost ~60k in value in 12 months?

edited

right... need to accommodate a growing family. wink

 

[BJCanadaMax]

I don’t know about “a growing family” and a Macan (albeit an EV which iiuc is slightly bigger than the current ICE version).

Have you considered a Cayenne (maybe e-hybrid), or EV offerings from MB/BMW/Audi/etc?

Yeah... i told my mom about my growing sperm count when i got the CT

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