Depreciation is proving to be a significant challenge for electric vehicles (EVs), with Porsche’s Taycan experiencing notable declines in value, outpacing many other vehicle types. A blend of technological advancements, fluctuating prices of new cars, and wavering demand has contributed to a swift depreciation trend among various electric models. Particularly striking is the case of Porsche’s Taycan, with top-tier Turbo models witnessing a staggering drop of nearly $100,000 in value within a mere four years.
The Porsche Taycan, introduced in 2019, was positioned by the renowned German automaker as a contender against the widely acclaimed Tesla Model S. While boasting commendable build quality and delivering the expected driving dynamics synonymous with Porsche’s legacy in high-performance automobiles, the EV model came with a hefty price tag. Porsche opted to debut the Taycan with the premium Turbo and Turbo S variants, starting at $151,000 and $185,000, respectively, before factoring in additional options. Subsequently, Porsche diversified the Taycan lineup to encompass more accessible options, ranging from the base model to the 4S and GTS trims, including the SportTurismo wagon variant.
Anticipated for 2025, an updated Taycan promises enhanced power and expedited charging capabilities. However, this advancement comes at a cost, with prices ranging from $101,395 for the “base” model to $213,695 for the Turbo S Sport Turismo. Nonetheless, prospective buyers eyeing a high-performance six-figure EV are advised to explore the pre-owned market for considerable savings.
Illustrating the substantial depreciation, here are examples of three-to-four-year-old Taycan Turbo and Turbo S models:
A Porsche Certified 2020 Turbo, boasting just under 15,000 miles, is currently listed at $89,998, a stark decrease from its original MSRP of $179,630, reflecting a depreciation of $89,632.
Similarly, a Porsche Certified 2020 Turbo S, with 21,635 miles, is priced at $105,900, down significantly from its initial MSRP of $206,950, marking a depreciation of $101,050.
Another 2020 Turbo S model, featuring 24,265 miles, commands an asking price of $112,890, compared to its original MSRP of $222,770, representing a depreciation of $109,880.
This depreciation trend of the Taycan stands in stark contrast to Porsche’s iconic 992 series 911, where lightly used examples often fetch prices exceeding their original sticker values. While the 911 continues to uphold its value across generations, the rapid depreciation of the Taycan suggests that this trend is unlikely to abate in the foreseeable future.
