What's happening with the new Taycan car market ? who's about to buy one ?

[jonttt]

ps re looks, believe me its right up there with as much positive feedback as I've had with any car ever.......mine is particualrly well specced though ;-)

 

[FZP]

 

[AVI_8]

Costs me more to insure my Tesla 2023 2WD model 3 than it does to insure my 2012 C4S... I paid more for the Porsche 2 years ago, than I did for the Tesla earlier this year... Causes me to wonder how much of that Insurance cost is related to the Tesla being electric, in terms of Insurance claim complexities., and if so, does the Insurance cost increase apply when comparing the Taycan to other similarly priced new Porsches...?

The huge Insurance price hike is down to Insurance companies discovering that there is now a nationwide shortage of technicians qualified to work on the ever increasing number of electric cars, so when an electric car is accident damaged it’s taking much longer to get them repaired, Insurance company is out of pocket for longer due to increased replacement car hire costs, and if it’s on credit hire that’s a very significant sum.
I know someone who’s Tesla Insurance went up this year from £700 to over £2000.

 

[Senoj]

We know it’s a great car for its genre. The tax incentives are pretty compelling for most in a position to take advantage of it and that’s been the primary reason for its success in the sales charts. It’s not really ever been a huge seller to private individuals that can’t take advantage of the tax incentives so I’d deduce cash buyer depreciation, interest or both should be far less of a factor in sales. So what’s changed? Are the poor residuals driving the lease costs through the roof or did someone at PGB put the wrong number in the forecast for 2023….

 

[Luddite]

Av_8, Thanks for the input. It seems that it may not just be electric cars that take a hit when they are renewing their Insurance in the very recent past....?

As for what seems like a huge jump in what I imagine may not just be just Tesla Insurance, Perhaps along the same lines as you heard, is that due to the lack of garages equipped to work on electric cars it seems they are written off in situations where damaged ICE cars would be repaired...?

 

[AVI_8]

Av_8, Thanks for the input. It seems that it may not just be electric cars that take a hit when they are renewing their Insurance in the very recent past....?

As for what seems like a huge jump in what I imagine may not just be just Tesla Insurance, Perhaps along the same lines as you heard, is that due to the lack of garages equipped to work on electric cars it seems they are written off in situations where damaged ICE cars would be repaired...?

Yes that’s exactly correct, cars which are written off by Insurance companies will go to auction to places like Copart etc, there someone will buy them to restore them using used parts, so basically it costs the Insurance company less to write off the car due to the salvage value than to repair it … Crazy situation but that’s what’s happening.

 

[R60BBA]

New battery, not motor.

Fairs, would hate to think what an electric motor would cost…

What is the mileage on that car?

 

[Luddite]

I suspect not as much as an engine or gearbox for a 992..... ?

 

[FZP]

Like most parts, there will be a bosch equivalent

 

[Simpson61]

Nobody is goingto buy a Taycan as a private vehilce - the risks v returns are too high hence most of the cars in stock are returned lease deals. Depreciation can be eye-watering

As a company/business driver they make a lot of sense for what you get. However the elephant in the room is would you run one without an OPC warranty and then what do you do when the 7yrs battery warranty is up as that cannot be extended. Better to rent/lease, enjoy the 2-3yrs then give back and move on.

Totally agree, company car purchase would be ideal. I am leaning towards a taycan for my next company car, 2% BIK for a tool I use for work (we use my wife’s Disco 5 at weekends etc) isn’t a nice little stealth tax for HMRC, shame it gets pulled in 2025.

 

[911UK]

just checked and there are only 540 Taycan's for sale

this or an Audi Etron GT ? how different are they ?

 

[911UK]

allegedly someone recently bought a new Taycan Turbo S that was a uk cancelled order for £60k off list, down from £183k to £123k

and as of today there are 707 for sale on AT

 

[Albionmuz]

780 today

 

[Alex]

and when you look over the same time period (2019 onwards) it's a bit of an eye opener:

 

[Albionmuz]

Eye watering depreciation, very un Porsche!

Got to feel for anyone who bought one privately for cash rather than on PCP