Porsche Taycan: WHY It DEPRECIATES So Badly (from the Perspective of a Used EV Dealer)

Porsche has shocked the world when they announced in 2015 that they will electrify the majority of their product lineup within the decade!

However, the brand's first EV didn't have it easy. While the Taycan was initially well received, outselling even in the iconic 911, but after the strong start, the cars saturated the used market, resulting in the values plummeting.

But why did this happen? And does a similar fait await all the other electric vehicles in the future

Everything you need to know to navigate the current market is explained in this video from the perspective of someone who is directly involved in selling used electric cars at an independent dealer in London.

CHAPTERS:
00:00 Introduction
00:37 Porsche Electrification Strategy & History
05:05 The Perfect Storm
09:30 Comparison with Tesla
12:30 Porsche's Solution
15:58 State of the Used EV Market in 2024
21:35 Bargain Electric Porsches
23:30 Conclusion

[rwdplz]

Still can't find a Taycan under $50k, most at $70k. Depreciation yes, but they were absurdly overpriced to begin with.

[Lifeisapartydresslikeit]

Bought my Taycan at a depreciated price and I am happy and like other Taycan owners - we don’t care about depreciation if you’re keeping the car for 5 to 10 years. Great video! 🙌🏾

[ROBERTMILES-jbqe]

I have been the driver of a tacan 4S with 93kWh battery. I be had it since new and have just hit 66.000 miles I agree and understand all you have said but actually the car is far more versatile and practical then you would assume. It is a very comfortable drive with 4 large adults having plenty of room. In fact the back seats go flat and I can fit a large mountain e-bike in the back. It’s a great opportunity to grab an absolute bargain. It is bigger than the Marc EQC to mention just one. So at this price. The fact that the car is incredible (3 1/2 years on it still makes me smile every day. Charging was a little challenging in the first 2 years but now the network of ultra fast charging, it is more continent than a petrol or diesel. Happy to let you know more if you want. A great family car and luxury performance car all in one.

[normanboyes]

I am not in the market for a Taycan (ever) and no matter the list price new or the depreciation, you cannot deny it is just a beautiful car - a work of art.

[peterbratu]

Such depreciation is not unusual. My SL63 was sold at £143K new in 2013, then sold at just over £80K only a year later. I bought it at £40K when it was 6 years old, with 25K miles on the clock.
I guess the depreciation on the Taycan is discussed much more than other cars, just because of the big numbers they were sold in.

[drblaque]

Even though I live in the USA, I found this video to be extremely educational, great production, source material available, and easy to understand both academically and linguistically (even though English is clearly not your first language). Masterful video indeed, job well done

[charliecouzins]

Unexpectedly fantastic video, really in depth and holistic review of the market & trends in recent history. Best video on YouTube I've seen on this topic.

[pv]

I can tell you why. The other day I had to help a friend who got stranded in a Taycan 4s, which showed 270 km range but still refused to move. It wouldn’t open the charge ports, nada. It’s 30k km. I can only imagine what happens down the road. And, yeah, he’s got warranty and now for the second time the car has been collected by a tow truck and two weeks in there’s no result. They say they need to change modules, update software, etc., but, honestly, they have no idea what’s wrong.

[CHfondue]

I bought a used (CPO) Taycan Cross Turismo for the same reasons you mention. I didn’t want a SUV. Great value for money.

[peterhammer]

I have now had my Taycan 4S for 3, 5 years. Have loved every second driving it. Only issue has been the heater. I dont care shit about depreciation as I will keep it at least for 4, 5 years more. It's the 2nd best car I have had since 1978 when I got my driving license (E92 M3 best).
No extra costs apart from extending the warranty. Charge mostly at home, where I pay 9cnt per kWh. My credit card monthly bill used to be around 600 eur because of gas, now it's 100 eur.
And it's one of the most beautiful cars out there. On top its fantastic to drive on countryside roads or in the mountains.

[halopartiska]

Thank you for this report. It is a top class summary of what has happened and what is happening. The most standard car journalists dont have a clue or dont bother/have the capacity to dig deep and analyze and connect the dots. Please keep us updating. I have subscribed. Good job. Thanks

[MStar]

Great detailed vid - Ques - if you were in the market for one - which year is the best value yet still keeping the maint costs in mind. Thanks!

[jakob.]

A 24 minute video which did not even answered the question in the title. I expected price examples for TAYCAN not a history lesson.

[richardpiper]

Congratulations Martin. This is a fantastically researched and produced video. Just one comment regarding depreciation of EVs. The EV Z Mandate is putting considerable pressure on some manufacturers because of the need to ensure (this year but rising every year through to 2030) that the BEV proportion of their overall sales hits 22%. The penalty for not doing so is potentially a fine of £15, 000 per car. Consequently there are a number of manufacturers are either discounting new EVs by huge amounts and/or offering extremely tempting finance deals. Manufacturers are also putting their dealers under pressure to help achieve their EV Z Mandate target by tying the availability of their in-demand desirable models. Dealers can be awash with stock that they have been “obliged” to take so have offer customer deals. For the first time Porsche dealers are having to play this game which has had the affect on used car values. The Taycan, being a high price saloon is an extreme example of how the market has really depressed used values and not as is often the case because it is intrinsically a poor vehicle, just a bit unfashionable.

[BryanEderyMusic]

Great video, thanks Martin. Beautiful cars. A Porsche Taycan owner that I met at the car wash loved it but said the real world mileage range was poor. So anyone going for a Taycan mark 1 in the used market will have to be comfortable with the fact they are going to get a substandard real world mileage range.

[rightangletriangle]

I was in the market for a new car in 2019 and decided to buy a hybrid plug-in. The electric range is about 30 miles which is enough for my daily commute and my gasoline mileage is about 55 miles/gallon. I filled my 10-gallon gas tank about once per month or once per two months. If I live in a city with good public transit, then I won't own a car. The car insurance in California this year has gone up 20% at least. If I do go for an electric car, it will be most likely to be a Tesla. I rented an electric car recently driving from Los Angeles to San Jose, a normal 6 hours' drive turning into 12 hours' drive since I had to stop by twice to charge and it's not compatible with Tesla's super chargers. That's a surprise for me.

[billymania]

It's just the hype curve in action. The shine is off EV's. The danger is that people overreact on the downside. The Taycan is a good car and I'd love to have one. For full disclosure, I have a Tesla Model 3 LR and a Mustang GT 6 speed. Both are great.

[USUG]

fun fact
2020 taycan 4s msrp about 105k new, now most 65-70k
2020 panamera 4s msrp about 106k new, now most 70-75k

that is, the depreciation is in the same ballpark

[ISuperTed]

I’m old enough to remember the hype around German convertibles/coupes where things like the BMW Z3 and Merc SLK had big waiting lists and people were buying them over list price. The same thing with early premium EV’s, there was way more demand than supply.

These things always unwind and as you say things like Covid have skewed this further, but it’s inevitable supply catches up and prices drop substantially. Of course, all the EV-haters jump on this and say I told you so and it’s the end of the world, but it’s just business as usual.

[treyquattro]

really professional job! Excellent video.