Featured Porsche Taycan BEVs are depreciating like crazy: get a screaming deal on one now

Minus $112.90, I just received a dividend from the insurance company.

 

Porsche gasoline cars also take big depreciation hits. (That is how my wife got ours). I’m not surprised…

 

Mrs b thinks $1,200. But it’s confusing because we bought and sold 3 vehicles all around the time our policy was due. Debits and credits are flying back and forth.
We should know the final figure in a few days.
Edit: she just opened the final bill.
2024 hycam XLE cost $35,000. And the insurance premium is $1,000.
2023 Bolt EUV LT cost $32,500. And the insurance premium is $1,200.
So the ev is more of a repair hit I suppose, but not nearly as bad as I feared.
The premiums for our 2012 pip and 2013 hycam were $1,800. Total last year, so I’m pleasantly surprised

 

It's the case with many luxury models.

 

This is from a website called Car Edge - maybe it would be interesting to you - a great value car like the Bolt is not going to have the same steep drop in value that overpriced vehicles will.

 

Im not familar with the Porsche but I would assume most first generation EV cars, especially the ones not on an exclusive EV platofrm, will age very poorly. And even the ones that are sound from a technological point, might age not very good as manufacturers add a lot of "weird" quirks that might be cool now but feel probably very outdated soon. Like having a last generation smartphone- doesnt matter aynmore these days but was a big gamechanger back then.

 

A lot of people think that way, but history has shown that ev’s don’t change any more than gassers

 

We are currently writing history - many first gen pure EVs platforms just came out. Isnt it a little bit early for conclusions?

 

What 'weird' quirks do they have? The examples I'm thinking of are features that have been around, just used on limited models.

The general hesitation that can happen with a used EV is mostly around the battery. Most people's experience with batteries is in personal appliances, like phones. Those tend to get abused, which leads to a short life. Car batteries last longer, but it will take time for that info to filter into general public knowledge.

Early EVs also suffered from steep depreciation because of the generous incentives. If new can be had for $10k off MSRP, the used price will likewise drop to reflect that.

 

I think more in terms of styling of exterior and interior - mainly for two reasons:

1. Its just much more possible as many ICE limitations are gone (see Hyundai platforms ~2022 with Ioniq 5 and whatever)
2. Brands try hard to show they are now EV (eg all the new plastic grills with Mercedes EQS or BMW IX platforms ~2020)

Especially Hyundai is a good example, they really went all in an put alot of cool things into these cars but who knows if it looks cheap & out of place in 5 years? Wahts there to stay?

Tesla is basically its own category - they had quite a headstart (Model S ~2012) and were actually quite conservative - at least on the exterior (with the Model X an exception).

Yeah - battery technology and HVAC seems to be another field were alot is changing every year. Independent from the normal consumer worries as pointed out by you, there are many new developments:

• Charging speed gets always better (while hopefully not killing the battery faster)
  
• Charging standards (took the US a little bit longer to find one compared to EU)
• And now we have new cool things like V2V charging (great to help a buddy with range anxietey) or even V2X as home buffer that an old EV car doesnt have

 

Styling is very subjective and mercurial. Many ICE models have ended up with dated looks. EV stylings could end up being picked up by non EV models. Most past Prius were considered odd in terms of styling here, but I don't think that has hurt the resale. The gen4's extra angles might end up as a burden later.

I don't think this is an issue for the Taycan

I find the large grills with a majority blocked off silly, but grills had a functional need since the beginning. It will take time for designers and the public to settle on how to handle that space on an EV. Specially with models based on an ICE platform; it was assumed there would be a grill there.

The exterior Blazer ICE and EV models look close, and the EV is made on a separate BEV platform. The Equinoxes look different, but maybe the ICE is due for a redesign the year the EV arrives.

I love the Ioniq 6. Hyundai stole a classic Porsche.

 

Tesla has been very similar for years,
Bolt has been the same for 7 years.
Id4, what is going to drastically change?
Leaf is improving in styling, but no more effect on resale than gassers. I just don’t see your point

 

I mean you ignored the examples I gave? Bolt/leaf are bad examples as they were kinda firsts for early adopters, predating the EV mainstream. Unfortunately they could not build on it and dont have much relevancy anymore. Tesla I mentioned already as their own category

As for VW, you definately have a point- they have enough subbrands for "quirky" and experiments.

 

gen 4 prius is still relevant, even with the major restyling of gen 5. i suspect ev's will be the same.

 

Seen most of these on the road. They don't stand out as quirky or odd to me. They may have slight difference in body creases to differentiate, but give them a grill, and they would fit with the the rest of the line up. The bZ4X is the quirkiest with the wheel well 'cladding' but it isn't the first car to have that.

 

Most vehicles to me have all looked basically identical for ~20 years.

Only differences are grills, tires/rims and lights and obviously how bloated can they make the car. 4 runner looks like a deformed Suburbayukinoid vehicle now days with clown tires.

Trucks/SUVs how obnoxious can you make the front end and height ?
Cars/CUVs how obnoxious can you make the lights and grill ?

Besides growth and stilupid plastic snap on parts
every vehicle is the same.

On the Leaf it wouldn’t take much to make it more normal looking.

The Bolt really isn’t first generation, I own a 1981 Comutacar and a 2005 Miles ZX40, others have the old RAV4, S10 and Ranger BEVs.

If we want to pretend Tesla roadster is the first of the new first generation, Leaf and Volt Rev 1.5, Bolt is an early 2.0.

You want mainstream? That doesn’t really exist per persons such as yourself, otherwise look at a Tesla for the volume leader.

Insurance costs, title + registration costs, and TCO likely have more to do with limited market share. Many states sell virtually zero new cars sucking up used, in those markets there is usually minimal infrastructure, long drives and bad road.
Worse the automotive industry is in a “new high priced car downturn “ coinciding with a new car repro crisis and many wealthier 6 figure folks loosing pay.

Every vehicle purchase is local, folks who can make the economics work and the range/limitations work usually own an EV.

I am a strong proponent of efficient PHEVs but sadly there aren’t many and the insurance + tax increase makes the fuel savings not pay off.

 

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