Porsche Taycan Posted Double-Digit Sales Growth in 2023

[agurkas]

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

I have seen your app. You did a good job. I have worked with people like you. I am one. We do things, we spend on things because our parents told us that is reasonable. Taycan is not reasonable. Just like the love of my life, my wife of several decades, told me to get Cayman when it came out and Dodge Magnum (back then) before that. She said, "get something that keeps your hustle at 100." When I showed her CT4S, she was careful... But now she has a hardcore rule - if she wants to drive, I may not be the one driving it. How does the car make you feel? Do you feel happy? Is that drive to the office is that much better? I tell my wife to take JetBlue Mint to her office. How much does that extra expense make you feel? Does that change your view toward the hustle?
Case closed.

Sponsored

 

[whitex]

	2021	2022	2023
Total Taycans delivered	41,296	34,801	40,629

2022 seems artificially constrained, probably due to production issues (obviously they could have sold more since Taycans were selling above MSRP at many places). The spillover demand from 2022 probably raised the demand for 2023, but 2023 suffered from demand lowering factors due to high interest rates, as well as more competing EVs available to customers (most at a lower price point) so the end result was slightly less cars than two years earlier. In 2022 Porsche might have also been suffering from a wrong impression in terms of demand as the shortage caused many people like myself to get onto multiple waiting lists for different Taycan trims - some dealers had so many people in-line they refused to add more, saying they have customers lined up for years of allocations. I bet some people on Taycan waiting lists were only there because they couldn't get some non-Taycan car, so they signed up for many makes and models waiting lists, see which one arrives first - I know a few people who did that. Heck, I started looking at EQS and Lucid after a year on many Taycan waitlists.

 

[Nshee65]

The increase in Taycan sales was made in Q4. By their own numbers, Taycan sales were up ~300 for the year (7570 - 7271) but they were up ~860 (2358 - 1497) for Q4. That means to start Q4, Taycan sales were down 560 for the first 3 quarters. Lots of incentives came up in Q4 and “saved” their sales year.
(I love my Taycan, and I don’t disagree with the other macro economic issues mentioned above.)

 

[DerekS]

I have seen your app. You did a good job. I have worked with people like you. I am one. We do things, we spend on things because our parents told us that is reasonable. Taycan is not reasonable. Just like the love of my life, my wife of several decades, told me to get Cayman when it came out and Dodge Magnum (back then) before that. She said, "get something that keeps your hustle at 100." When I showed her CT4S, she was careful... But now she has a hardcore rule - if she wants to drive, I may not be the one driving it. How does the car make you feel? Do you feel happy? Is that drive to the office is that much better? I tell my wife to take JetBlue Mint to her office. How much does that extra expense make you feel? Does that change your view toward the hustle?
Case closed.

Hey thanks!

And you’re right of course, buying a Porsche is never a “sound financial decision” but we do it because it‘s fun.

I’m a little bummed seeing the value tank but only because the Taycan is not my dream car; it’s the only car that fits my needs currently of electric+Porsche. It’s a placeholder until they make something I can live with (E-Boxster) or the car I truly want (E-Targa.)

 

[RCorsa]

All EVs are tanking in price. Look at the new BMWXi. BMW is pushing a super cheep lease for $799 with only 4500 down and that’s for a 95k model as they are essentially subsidizing leases since they forced dealers to order them (many dealers have 25-30 of them incoming). Taycan is no different. I would assume 50% depreciation over 24 months then will stabilize a bit.

 

[Tooney]

The cars with the highest dealer markup in each state - US

 

[MAPC]

The cars with the highest dealer markup in each state - US

I don’t really understand this article. I feel like I’m missing something I don’t see any of those cars selling for numbers that much higher than msrp. What am I missing?

 

[Genau]

I don’t really understand this article. I feel like I’m missing something I don’t see any of those cars selling for numbers that much higher than msrp. What am I missing?

Digging into the data, it appears the study mistakenly uses MSRPs without accounting for options, whereas the selling prices do account for options. If so, there could theoretically be no dealer markup or even widespread dealer discounting and the numbers below would still be possible. Since Porsche is somewhat unique among car brands for having a huge portion of the average sales price attributed to options (35% in my case), this makes Porsche stand out in this study.

 

[MAPC]

Digging into the data, it appears the study mistakenly uses MSRPs without accounting for options, whereas the selling prices do account for options. If so, there could theoretically be no dealer markup or even widespread dealer discounting and the numbers below would still be possible. Since Porsche is somewhat unique among car brands for having a huge portion of the average sales price attributed to options (35% in my case), this makes Porsche stand out in this study.

THAT makes a lot more sense! I knew that there had to be SOMETHING that I was missing!

 

[Redhot2474]

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.

Agreed. Supply is just to plentiful. Also, I wonder how Porsche really tally’s their numbers. Does that an unsold delivered Taycan to Porsche dealer constitute a “sold unit” when in reality a dealer could have 10 unsold units on the lot? I wonder if sold means “sold” or just a delivered unit , those are very different…

 

[SecretSquirrel]

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

Values are tanking because EVs are evolving like technology items. Think computers. The next gen of EV's should get a 30-50% boost in range. We are buyers on the early part of the bell curve. This isn't just a Taycan thing, my Tesla Mod3P has lost almost 45% and it's a 2021!

Actually, Taycans values are holding pretty decent, comparatively, especially when you consider the high price. People who buy 2nd hand Taycans could afford a new one. Additionally, the price is still out of budget for most buyers.

 

[MAPC]

There are many many reasons why the values are dropping but not the least of which is that Tesla keeps dropping the price of new cars which pushes everyone else down - if not on the new market, ceratinly the used market. As I have posted elsewhere, my Tesla P100D had an MSRP of $151K. New (8 years later!!) Tesla Plaids are only slightly more than half that.....and more basic Model S's (which compare to the performance of my P100D) are even less.

Sponsored