Man explains why Porsche Taycan EV has depreciated in price so much

Electric car expert and YouTube personality Cars with Miles has broken down why the Porsche Taycan EV has depreciated in price so much, after he claimed the $200,000 luxury cars lose over half of their value in one year.

The Porsche Taycan is undoubtedly one of the nicest cars that the luxury brand has ever made.

Especially the Turbo S editions, which inflate the price unequivocally.

But owners have been finding that their luxury investment quickly becomes a cash dump, as depreciation has hit an all-time high for the popular model.

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Car expert reveals huge Porsche Taycan EV depreciation

Porsche believes that the Taycan is ‘the best electric car in the world.’

And one year after ownership, some people have agreed, as they highlighted massive savings from its impressive range and low charging costs.

But while the EV appears to save you cash on fuel, others have found out that the maintenance costs and depreciation have left their luxury cars ‘worthless‘.

Now, Cars with Miles has backed this claim and crunched the numbers.

In a new upload to his channel, the car mogul claimed that the Porsche Taycan EV Turbo S sells for around $200,000, but after a year, the price has fallen by a huge $130,000 to leave you with a car worth just $70k.

Why is the Taycan’s value falling?

According to the car mogul, the impressive car is dropping in value for a number of reasons.

The expert claims that the rapidly evolving battery tech renders replacements very difficult.

Why? Porsche mechanics struggled to keep up with services and software updates as the brand didn’t release the updates over the air, and the first-generation car struggled with keeping its range figures.

With many recalls, some of the Porsche Taycan EV models haven’t been updated, and the constant visits to the shop have put off new buyers.

Then, there’s the competitive market. The stacked lineup of new EVs has left the Porsche Taycan being undercut.

Still, the Porsche Taycan EV has continued to impress in comparison to other cars and has even come out with an impressive accolade as the 2024 Electric Vehicle of the Year.

For new owners, though, it looks like the luxury car is a lifetime purchase, rather than something that you can trade up with.

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