Taycan Values.

[Throb]

Sorry I meant EQE.

I assume you mean the EQE SUV and not the EQE Saloon?

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[McgR]

You sure? I a was offered this morning 5000gbp off a brand new EQS, plus extra 3000gbp off by the dealer and 0% interest rate.
They are desperate to sell them. I was in to get a quotation for a Marcopolo campervan ?.

In Belgium MB has the star days. On a eqs 53 amg 25.000 off. 10-20 k on lower models.

 

[fenland]

I decided to do some more research on this big drop in Taycan prices, wanted to see if this was a uniquely Taycan/Porsche/EV thing.

It does appear like the entire market is in the midst of a big correction from the 2021-2023 times of paying over new list for a pre-owned vehicle. But this doesn't appear to be a uniquely Taycan thing.

I looked at cars which were registered between 2022-2023 and have been listed for sale for over 2 months, all are OPC APO vehicles.

102 Macan, 66 (64%) listed for at least 2 months, average price drop 6.5%
263 Taycan, 110 (42%) listed for at least 2 months, average price drop 11.5%

Flawed data yes, but it shows at a high level that you're talking roughly +40% the depreciation % on a Taycan compared to a Macan (of similar age/mileage), and of course the Taycan is a more expensive car to buy to begin with.

Are we at the bottom of the market right now? Who knows, my gut tells me not quite but that it's probably not far off. Speaking to friends in the trade, it's all fairly unprecedented with COVID, supply chain restrictions, and inflation.

 

[Jaybee]

....According to my dealer, 90% of all new Taycan buyers are companies, through lease or business PCP. If this is true of the entire UK dealer network, that means that 90% of the market cannot and will not consider a used Taycan. To that 90%, Taycan's are disposable. This means that dealers cannot sell used Taycans to the bulk of their customer base and this is what's fueling massive depreciation....

I have to agree with these numbers. I've been looking to replace our ICE car with another ICE car and have been into a couple of BMW & Merc main dealers last week.

I asked the sales people about the EV uptake and both came back with a figure of more like 95% are business sales.
Whilst I was trading in my ICE car and getting px figures, i asked theoretically what they would give me for my 22 plate Tesla Model 3 Performance (company car).
Neither dealer wouldn't even give me a low ball offer and both just refused outright it for a part-ex.

Don't know if its the same with Taycans but its interesting hearing from four different dealers about EVs, as on one hand, they need to sell them now - but really aren't interested in buying them.

 

[alexsas]

was collecting my Taycan from a small repair today - dozens and dozens of sad-looking taycans are piled in every possible corner.... Scary sight I must say

 

[Crazymind]

I doubt that. Cars are not anymore “status symbol”.
The new generations will show off their wealth being more healty, having more spare time. Time is the new Wealth.

 

[Mrh335]

If a 2024 Taycan has been sitting on the lot for 60+ days in the US, is it reasonable to approach the negotiation of the car thinking that the price can be reduced more now than in the past to effectively split the massive depreciation between the dealer’s cost and the buyer? It seems like if the dealer isn’t willing to move much, the market is unstable, and a purchase isn’t needed right now, it is much better to wait for better more predictable days as the OP suggests. Prices will most likely continue to go up with the refresh, but that almost seems like a better option if you are paying more, but have a more stable market that you are buying into.

With all that being saying, what is the best way to have a dealer see this logic and reach an agreeable price and does this look like 10% or 20% off from what folks have been able to achieve?

 

[Thorgal]

My Porsche dealer didn't even want to give ma a quote on my '22 Taycan CT4S, said they couldn't sell it, which made me hold off a purchase of the new (FL) Cayenne.

 

[MAPC]

If a 2024 Taycan has been sitting on the lot for 60+ days in the US, is it reasonable to approach the negotiation of the car thinking that the price can be reduced more now than in the past to effectively split the massive depreciation between the dealer’s cost and the buyer? It seems like if the dealer isn’t willing to move much, the market is unstable, and a purchase isn’t needed right now, it is much better to wait for better more predictable days as the OP suggests. Prices will most likely continue to go up with the refresh, but that almost seems like a better option if you are paying more, but have a more stable market that you are buying into.

With all that being saying, what is the best way to have a dealer see this logic and reach an agreeable price and does this look like 10% or 20% off from what folks have been able to achieve?

I don’t see a US dealer dropping the price of a new Taycan by 20%.

 

[Donar]

My Porsche dealer didn't even want to give ma a quote on my '22 Taycan CT4S, said they couldn't sell it, which made me hold off a purchase of the new (FL) Cayenne.

Strange. You would say there is always a price for which it can be sold. Probably it was so low he did not want to offend you.

I still have my search criteria saved and don’t see a lot of changes in total Taycans <€100K available in NL. 110-130, every week 5-10 sold. I did not track values, but I do have the feeling they became cheaper last 2 months. Especially the ones with high mileages are not sold, unless really low priced.

 

[whitex]

My Porsche dealer didn't even want to give ma a quote on my '22 Taycan CT4S, said they couldn't sell it, which made me hold off a purchase of the new (FL) Cayenne.

Only one reason an OEM dealer doesn’t even want to quote a trade-in - they don’t think they will make money on it. This usually is a combination of already having a large inventory, have a stop sale due to a recall with no end date, cars just not selling. If they have to sit in the car (which costs then money) while it depreciates (all cars do) they’d have to price in a huge upside for this kind of risk, or price it such that they know they can move it fast, but that would devalue their existing inventory. That and they know that giving a customer a super low value would likely only piss off the customer who wouldn't sell at such low price anyways but walk away offended.

I have had trade-ins not even quoted in the past. If you still want to offload it, find a non-OEM used car dealer, but brace for a really low offer. Wait will the spring, it might get better. Or put it in consignment, or sell it yourself if you’re willing to do the work.

If you really want to know the actual real trade-in value, enter your car into online trade-in evaluators - ones which are semi-automated, where you enter the information and they get back to you a day or two later. In the USA this would be sites like Carvana, Vroom, KBB "get an offer" (not their automated free quote), or a Tesla trade-in evaluator (pretend online that you want to buy a Plaid). Maybe Tesla offers fully online trade-in offers in your country too? You would need to take some pictures and submit them with the car info, but the process should take maybe half an hour and Tesla, at least in the USA, comes back within 24hrs.

 

[whitex]

Back then there was $7,500 incentive, so actual retail price of this car was $160K. A 4 year old luxury sedan sells for ~50%. Options depreciate much, much, faster. 41% for a very heavily optioned luxury 4-5 year old luxury sedan (which a $167K MSRP 2020 Taycan 4S definitely is) is not unusual.

I think the expectations of Taycan values may be a little skewed, as Taycans came into the market just in time for the COVID pandemic where cars (at least in the USA) were overpriced by as much as 40% due to supply chain shortages and extra money from low interest rates and government aids (more money disseminated, less good s made, you do the math). Days when you can buy a new Taycan, drive it for a 2 years, and sell it at MSRP are never coming back, but since Taycan started its life in those times, the impression is that its values are tanking. This also means there will be people who bought at the market peak and are now shocked (buying at 40%+ premium over typical market value makes depreciation look huge once the market corrects to typical values).

 

[LongLive959]

I’m seeing a $20-25k difference between two equally spec’s 4S sedans (higher one is a ‘23 Mamba while the other is a ‘22 Neptune). My wallet says Neptune….is model year that big a concern, considering the ‘22 seems to have taken the bigger hit already?

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