Video Summary
- Porsche Taycans continue to depreciate.- As of August 2024, they've lost more than 46% of their value compared to May 2022.
- The EV market is depreciating at higher rates compared to internal combustion engine (ICE) vehicles.
- Taycans can now be found for $50,000 to $55,000.
- From April 2021 to July 2024, prices held up fairly well until mid-2022, then prices declined.
- 'S' models are down 46% or $58,400.
- The base models are down 40.2% or $42,200.
- There is a linear decrease in the prices for the base and S models.
- The gap between the two models decreases.
- Base models lost 21.8% or $17,500, while 'S' lost 25.3% or $23,200 in the last year.
- GTS models are down 43.5%, which is $76,000 from their market top.
- Turbos are down 48.8% which is $77,000 from the market top.
- For Turbo S, it's 46.7% or $84,900.
- The depreciation in the Turbo S is lower compared to the Turbo and GTS.
- Base models went from 22.3% to 21.8%.
- 'S' models went from 28% to 25.3%.
- The average depreciation is 24.3%.
- The Turbo S, Base, and S models drove the depreciation.
- A 2021 car lost 20% during the last year.
- Since late 2023, 2020 and 2021 cars have been flattening.
- Carryover inventory, the percentage of cars for sale for 3 months or longer, has stabilized.
- Since Summer 2023, carryover inventory has stabilized, and is around 25% to 30% as of 2024.
- There is an upward trend in these inventories, matching the price behavior.
- Because of the above findings, the worst may be over in terms of depreciation.
- The general warranty is four years or 50,000 miles but this excludes the battery.
- The battery warranty is eight years or 100,000 miles.
- Between year 3 and 8, the battery capacity must be 70% or less.
- The average discount rate is -7%.
