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

Video Summary

The Porsche Taycan has a history dating back to the 2015 Mission E concept. The Mission E had stunning looks and promised the character and feel of a Porsche. It was the first vision of a car with an 800-volt battery architecture, doubling the voltage of Tesla at the time. It was designed for repeatable performance and targeted consistent track performance. The Taycan had some specs compromised to get it to market, as peak charging was under 300 kilowatts. The COVID pandemic brought about some interesting dynamics into the car market. Initially, people cut back on expenses. Government support schemes helped businesses afloat. Lots of Covid money was flowing about. Many directors treated themselves to electric cars because of tax benefits. However, a semiconductor shortage limited production capabilities. As a result, electric car prices rose, incentivizing people to jump into electric. The UK fuel shortage in 2021 also accelerated that transition. Electric car sales are currently doing great. The car looks amazing, but is unsuitable for most buyers on the used market. People are after the versatile, family-sized SUV cross over vehicle type. As used Taycans trickle into the used market, not much appetite exists. Used Taycan prices are quite low, and the high depreciation looks terrible on paper. In that scenario, for potential buyers who already have electric cars the government infrastructure expansion in order to remain competitive in the car market with an option for them to maintain the level on public transportation due to various government support. A facelifted Taycan addressed criticisms such as poor efficiency and range. Now, with 2024 pricing, it is an SUV company, not a sports car brand. The best course of action would be purchasing from AutoTrader in an effort to find potential deals. The cost of electricity has been raised substantially, the used car market might be a bad idea. The Macan Electric SUV looks like a better option because it has a bigger battery, comes with four-wheel drive standard, and is cheaper.