Porsche Taycan Depreciation: Do They Hold Their Value?
Here's everything you need to know about Porsche Taycan depreciation: how well it holds its value, the Taycan vs. other Porsche models, and Porsche value retention vs. other brands.
The Porsche Taycan, a sleek and powerful electric performance sedan, is far from a perfect EV. When the Taycan first launched, it quickly garnered attention for its ability to deliver the signature Porsche driving DNA in an all-electric package. The Taycan’s introduction marked a significant milestone for the iconic sports car manufacturer, showcasing its commitment to embracing electrification without compromising on performance or quality.
One of the key factors contributing to the Taycan’s market success is its exceptional driving dynamics. With its powerful electric motors, the Taycan can accelerate from 0 to 60 mph in as little as 2.6 seconds, rivaling the performance of many high-end sports cars, including Tesla.
However, as with any luxury car, potential buyers often wonder about its long-term value retention. For today’s post, we peek into the Porsche Taycan’s depreciation and resale value so you’ll know if this electrified luxury car is for you.
Porsche Taycan Depreciation: How Well Does It Hold Its Value?
Below, we touch on some key aspects of the Taycan’s depreciation and resale value.
Depreciation Rates: Taycan vs. Other Luxury EVs
According to EV Depreciation, the Porsche Taycan is estimated to retain approximately 65% of its value after three years. This places it in a relatively stronger position than other luxury electric vehicles. For example, the Tesla Model S and Model X, two of Taycan’s main competitors in the high-end EV segment, are projected to retain around 58% and 52% of their value, respectively, over the same three-year period.
This difference in value retention can be attributed to several factors. Firstly, the Porsche brand is renowned for its ability to maintain the desirability and value of its vehicles over time. The Taycan, being a Porsche, benefits from this brand’s strength and reputation for quality. Secondly, Taycan’s unique position as a luxury performance EV sets it apart from its competitors, potentially contributing to a more stable resale value.
However, you must remember that these depreciation rates are based on current market conditions and projections. As the luxury EV market continues to change and more competitors enter the space, the Taycan’s depreciation trajectory may be influenced by factors such as advancements in battery technology, charging infrastructure, and shifting consumer preferences.
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Resale Value Comparison: Taycan vs. Traditional Porsche Models
Comparing Taycan’s projected resale value to that of traditional Porsche models offers another perspective. Porsche vehicles are known for their strong value retention, with models like the 911 and Cayenne retaining around 60% and 58% of their value, respectively, after three years.
While Taycan’s estimated 65% value retention after three years is impressive, it’s important to note that this is still a projection based on current market conditions. As more data becomes available and the luxury EV market evolves, these figures may be subject to change.
Porsche Taycan Depreciation: A Cautionary Tale
However, not all coverage about the Taycan’s depreciation has been positive. According to a recent Jalopnik article that offers another perspective on the Taycan’s value retention, the Porsche Taycan Turbo has experienced a staggering depreciation of up to $100,000 in just four years.
The high-performance electric vehicle, once commanding starting prices of $151,000 for the Turbo and $185,000 for the Turbo S, has seen its value plummet in the used market. A 2020 Turbo with just under 15,000 miles, originally priced at $179,630, now has an asking price of only $89,998 – a shocking drop of $89,632.
Similarly, a 2020 Turbo S with 21,635 miles has witnessed a depreciation of $101,050, falling from its initial MSRP of $206,950 to a current asking price of $105,900. Another 2020 Turbo S model with 24,265 miles has experienced a drop of $109,880, with its asking price now at $112,890 compared to its original MSRP of $222,770.
These figures underscore the dramatic depreciation faced by the Taycan Turbo models, a stark contrast to Porsche’s iconic 911, which often maintains or even exceeds its original value in the used market.
ARE PORSCHES RELIABLE?
Reliability might not be a big concern since the mileage stays low, and maintenance can become a hobby. But if you want to use a Porsche as a primary car, you’ll want to know if Porsches are reliable.
Factors That Affect the Porsche Taycan Depreciation
Several factors can affect the depreciation of the Porsche Taycan EV:
- Technological Advancements: New models with improved features and performance can make older models less desirable, accelerating depreciation. As electric vehicle technology rapidly evolves, older versions may seem outdated, reducing market appeal.
- Market Competition: Increasing availability of luxury EVs from other manufacturers can drive down the resale value of the Taycan. As more brands introduce high-end electric vehicles, consumers have more choices, which can impact the demand and value of existing models.
- Brand Reputation: Porsche’s strong brand reputation might help mitigate some value loss compared to other brands. However, the overall market perception and the introduction of competitive alternatives can still influence depreciation.
- Battery Health and Longevity: The Taycan’s battery’s perceived lifespan can affect its resale value. Potential buyers are often concerned about battery degradation over time, which can impact the car’s desirability and value.
- Regional Variations in EV Adoption and Infrastructure: The Taycan might retain its value better in regions with more widespread EV support. The availability of charging infrastructure and regional incentives can affect the resale value of electric vehicles.
- Maintenance Costs and Reliability: Lower maintenance costs and high reliability can affect the Taycan’s resale value. For instance, CarEdge says the 2020 Taycan is one of the most expensive vehicles to maintain.
These combined factors make the Porsche Taycan depreciation rate a complex interplay of market dynamics, progress in EV tech, and consumer trends.
THE PORSCHE TAYCAN YEARS TO AVOID
Whether you’re looking for a luxurious city car or an exciting way to commute to work, this vehicle is excellent. What are the Porsche Taycan years to avoid on the market?
Porsche Value Retention vs. Other Brands
According to data from CoPilot, when considering value retention among luxury coupe brands, Porsche clearly stands out from its competitors. With an impressive 84% of its original MSRP retained in the used market, Porsche outperforms Lexus, which holds 70% of its value, as well as Audi and Mercedes-Benz, which retain 68% and 62% of their value, respectively.
Several factors contribute to Porsche’s strong value retention, including the brand’s reputation for quality craftsmanship, performance, and timeless design. These attributes make Porsche a compelling choice for buyers who prioritize both driving experience and long-term financial value.
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