Loading ...Porsche Taycan’s Values Plunge; Mercedes, Stellantis Pause EV Battery Factory On Sliding Demand
Troubling news for the electric vehicle market emerged from Europe on Tuesday. The first was the collapse of Porsche Taycan prices, and second, a battery plant owned by Stellantis and Mercedes-Benz halted development. All of this signifies sliding EV demand across the EU.
Let’s begin with a new Bloomberg Intelligence report titled “Taycan’s 33% Value Drop Makes Even Tesla Owners Cringe,” highlighting that the high-end luxury EV market is experiencing “significant declines in value as demand decreases.”
The report, citing Experian data, found Porsche Taycan values in the first quarter sank 33% compared to the same period one year ago. This was an even more significant drop than the Tesla Model Y’s 28%.