Shocking Loss in Value
Like any other Porsche, the Macan Turbo Electric is very nice. However, the seller of this example in the US was undoubtedly shocked when they sold it at a Cars & Bids auction for almost exactly $50,000 less than the suggested retail price—despite the car having been driven only 2,100 miles (3,379 km).
It’s no secret that premium electric vehicles lose value wildly as soon as they leave the dealership, but even this result is striking. After 37 bids, the Macan went for $97,000. That wouldn’t have been such a bad outcome if this example had cost the seller only $112,700—which is the suggested retail price for the Turbo Electric version.
Options That Didn’t Help
However, the car actually cost $146,340, because it is literally packed with expensive options. Among them: rear-axle steering for $2,150, black leather interior for $2,440, 22-inch Macan Sport wheels for $2,700, high-end Burmester audio system for $4,960, Drive Assist package for $1,140, front passenger display for $1,710, Sport Chrono package for $1,040, and augmented-reality head-up display for $2,660. The owner drove this EV only 2,100 miles over three months. So every day, he lost more than $500.
Dropping Like a Stone
This is not the first time the value of the Macan Turbo Electric has plummeted on the used market. Back in April, bids on another example with only 1,500 miles (2,414 km) on the odometer stopped at $88,500, while its sticker price was $121,855.
Especially telling is that this depreciation is happening despite impressive technical specs: two electric motors produce 630 hp and 833 lb-ft (1,130 Nm) of torque, and the sprint to 60 mph (96 km/h) takes just 3.1 seconds.
What Happens Next
Over the next few years, Porsche will introduce a new compact crossover with an internal combustion engine, which is expected to fill the void left by the old gasoline Macan. Once this model hits the market, prices for the electric Macan could drop even further. The vehicle is expected to be built on the Volkswagen Group’s Premium Platform Combustion architecture, like the new Audi Q5, and will slot below the Cayenne in Porsche’s lineup.
A Look at the Future
This story is another reminder that premium electric vehicles still don’t know how to hold their residual value. Rapid technological development, constant manufacturer discounts, and the arrival of increasingly cheaper competitors create a perfect storm for owners hoping to sell such a car without huge losses. For those willing to buy a nearly new electric crossover on the used market, a decent opportunity opens up to get a lot of car for significantly less money. But for first owners, such deals become an expensive lesson in how quickly the price can melt away even on the most performance-focused models with a prestigious logo.