At a time when most automakers are lowering prices on their electric vehicles (EVs), Porsche has increased pricing across their entire Taycan lineup for the 2024 model year. The price increases have taken effect in Canada, the US, and all other markets around the world where the Taycan is sold.
Earlier this month Porsche warned it was going to be imposing a “significant price increase” on its vehicles for the new model year. In a call with investors, Deputy Chairman and Member of the Executive Board Finance and IT at Porsche AG Lutz Meschke said the price increases would be necessary to maintain and grow its margins amid increased investments in developing new EVs.
With the introduction of the 2024 model year this week, and electric versions of the Macan and 718 and Boxster on the horizon, Porsche has done just that, raising prices across the entire Taycan lineup by between 4% and 5%.
Based on a review of prices by Drive Tesla, the increases in Canada range from a low of $6,100 for the 4S, GTS, 4S Cross Turismo, and GTS Sport Cross Turismo, to a high of $9,500 Turbo Cross Turismo.
|Taycan Model||Old Price (CAD)||New Price (CAD)||Increase (CAD)||% increase|
|Taycan Turbo S||$217,800||$226,500||$8,700||3.99%|
|Taycan 4S Cross Turismo||$131,600||$137,700||$6,100||4.64%|
|Taycan GTS Sport Turismo||$154,700||$160,800||$6,100||3.94%|
|Taycan Turbo Cross Turismo||$180,000||$189,500||$9,500||5.28%|
|Taycan Turbo S Cross Turismo||$220,800||$229,500||$8,700||3.94%|
While in the US the price increases are similar when taking into account the exchange rate, ranging from a low of $4,200 to a high of $7,500.
|Taycan Model||Old Price (USD)||New Price (USD)||Increase (USD)||% increase|
|Taycan Turbo S||$187,400||$194,900||$7,500||4.00%|
|Taycan 4 Cross Turismo||$97,700||$101,900||$4,200||4.30%|
|Taycan 4S Cross Turismo||$113,000||$118,200||$5,200||4.60%|
|Taycan GTS Sport Turismo||$136,000||$141,200||$5,200||3.82%|
|Taycan Turbo Cross Turismo||$155,900||$163,400||$7,500||4.81%|
|Taycan Turbo S Cross Turismo||$190,000||$197,500||$7,500||3.95%|
Unlike Volkswagen, which earlier this week increased prices on the ID.4 electric SUV on both new and existing orders, a Porsche spokesperson confirmed with us the Taycan increases only apply to new orders.
Porsche is apparently not worried about the price increases having an affect on demand as they believe their customers will easily be able to absorb them.
“We have a very good foundation with a very strong brand and a very strong customer base that gives us the power to increase prices in very challenging times and in an intelligent manner,” Meschke said earlier this month. (via AutoDaily)
After a strong first year with over 41,000 Taycan sales in 2021, a figure which outpaced sales of the iconic 911, sales dropped in 2022 by 16% to a little over 34,800 units. According to Porsche the drop was attributed mainly to supply chain bottlenecks and issues securing parts.