Porsche Taycan Posted Double-Digit Sales Growth in 2023

[allroadusa]

Sales growth +17% in 2023 compared to 2022 : Not bad for a model about to be refreshed by Year end.
Taycan sales = 40,629 (13% of Porsche sales in volume)

https://electrek.co/2024/01/12/porsche-taycan-follows-911-double-digit-sales-growth-2023/

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[DerekS]

If they are selling so well, why are the values tanking?

 

[osecanusee]

If they are selling so well, why are the values tanking?

Because it’s a 100k+ luxury EV, that segment is a depreciation beast

 

[OhRichman]

It’s a byproduct of Tesla slashing prices to keep their sales volume up affecting the whole EV used market.

 

[Tooney]

US Sales info:

https://press.porsche.com/prod/pres...onid=1522945&hl=unternehmen-presseinformation

 

[PoorShah]

Because it’s a 100k+ luxury EV, that segment is a depreciation beast

im actually really curious how the values are holding up compared to other EVs. We bought a 22 X plaid for almost $150K and I want to say I can only get 70k at best for it. Not to mention, I can get a 24 X plaid for under 100 now.

don’t think the depreciation is isolated to Taycan. On top of that, depreciation in the 100K+ segment is greater than sub 100k cars in general.

 

[osecanusee]

im actually really curious how the values are holding up compared to other EVs. We bought a 22 X plaid for almost $150K and I want to say I can only get 70k at best for it. Not to mention, I can get a 24 X plaid for under 100 now.

don’t think the depreciation is isolated to Taycan. On top of that, depreciation in the 100K+ segment is greater than sub 100k cars in general.

Agreed, it’s not just the taycan, any expensive EV is just not holding value like that currently. It’s well documented across all manufacturers

 

[achaudh]

If they are selling so well, why are the values tanking?

I think this info has to be taken with a grain of salt. Taycan sold well in the 4th quarter last year. That's because there probably were a lot of incentives offered by dealers. For the year as a whole, sure Taycan beat 22 numbers but that's because FY22 was bad for Taycan sales thx to the Ukraine war and supply issues due to that.

 

[RingoDingo]

Agreed, it’s not just the taycan, any expensive EV is just not holding value like that currently. It’s well documented across all manufacturers

Pretty much any expensive car (not just EVs) are tanking outside of limited run cars. Go look at 2021 Aston Martin DBX prices... you can get one for close to 50% of MSRP.

 

[RingoDingo]

I think this info has to be taken with a grain of salt. Taycan sold well in the 4th quarter last year. That's because there probably were a lot of incentives offered by dealers. For the year as a whole, sure Taycan beat 22 numbers but that's because FY22 was bad for Taycan sales thx to the Ukraine war and supply issues due to that.

I'd guess big difference between Jan - June Taycan sales and July - December. They were piling up towards the end of 2023, but still in short supply in the middle of the year. Plus, as people see more on the roads, people who otherwise might not consider one become aware of them... I've had a number of neighbors ask about them (and some of them buy them) after becoming more familiar recently.

 

[Donar]

Pretty much any expensive car (not just EVs) are tanking outside of limited run cars

Exactly. If I compare with other cars same age, mileage, around same MRSP, todays values are almost all in same range.

 

[RingoDingo]

Simple answer is supply chain issues have cleared, inventory is back to normal, and the ordinary laws of used car price economics have returned to normal, including, especially, higher interest rates taking effect. Don't be surprised when your bathing ape NFTs again become worthless jpgs... we all got a little drunk and weird there for a bit.

 

[Redhot2474]

It’s a byproduct of Tesla slashing prices to keep their sales volume up affecting the whole EV used market.

Eh, people keep saying that but I don’t think that’s supported by any real data. Mostly, a different buyer ..

 

[MAPC]

It’s a byproduct of Tesla slashing prices to keep their sales volume up affecting the whole EV used market.

This. 100%.
Elon keeps slashing prices of new Teslas, dragging the whole market down. My 2016 Model S P100D had an MSRP of 151k. Now you can get a new Plaid for a little more than half that.

 

[unbiased]

In addition to above mentioned reasons there is another simple one. They cranked up production and there are just too many unsold units. I think demand is solid but supply too high.

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