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Porsche Taycan Pricing in Canada

Porsche Taycan Pricing in Canada
iStock.com/Roman Stasiuk

When Porsche, the legendary German automaker known for its high-performance sports cars and luxury vehicles, announced its foray into the world of electric vehicles, the automotive industry took notice. The Porsche Taycan, the brand’s first all-electric sports sedan, is a bold statement that combines the brand’s iconic design language and performance pedigree with cutting-edge electric technology.


Positioned as a direct competitor to the Tesla Model S, the Taycan aims to redefine what an electric vehicle can be. With its sleek and aerodynamic silhouette, the Taycan exudes a sense of power and agility that is synonymous with the Porsche name. Under the hood, or rather, the floor, lies a potent electric powertrain that delivers blistering acceleration and impressive range, all while maintaining the brand’s signature driving dynamics.


The Taycan’s performance credentials are nothing short of remarkable. With up to 750 horsepower and 774 lb-ft of torque in its top-tier Turbo S trim, the Taycan can rocket from 0 to 60 mph in a mere 2.6 seconds, making it one of the quickest production cars on the market. Yet, despite its breathtaking acceleration, the Taycan maintains a level of composure and control that is expected from a Porsche, thanks to its advanced chassis and suspension systems.

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Taycan Trim Levels and Base Prices

The Porsche Taycan is offered in several distinct trim levels in Canada, each with its own base Manufacturer’s Suggested Retail Price (MSRP). It’s important to understand these different trims and their starting prices as you begin exploring your Taycan options.

The entry-level Taycan trim starts at $119,900 MSRP in Canada. This gives you the core Taycan experience with its powerful dual electric motors, impressive acceleration, and iconic Porsche design.

Step up to the Taycan 4S and you’re looking at a base MSRP of $130,900. The 4S adds the Porsche 4D Chassis Control system, adaptive air suspension, and a slightly larger 79.2 kWh battery pack.

For truly exhilarating performance, the Taycan Turbo kicks things up a notch with a starting price of $173,900. It gets a larger 93.4 kWh battery, upgraded brakes, rear-axle steering, and up to 670 horsepower with overboost engaged.

At the top of the Taycan range is the Turbo S, with an eye-watering base MSRP of $198,900. The Turbo S takes the Taycan’s performance to the extreme with up to 750 horsepower, chassis enhancements like Porsche Dynamic Chassis Control, and the largest 93.4 kWh Performance Battery Plus pack.

 

The True Cost: Popular Options and Packages

While the base MSRP for each Porsche Taycan trim provides a starting point, the reality is that most buyers will end up spending significantly more due to the plethora of optional extras and packages available. Like most luxury vehicles, the base price is really just an entry point – the “true cost” comes from selecting the desired options and customizations.

One area where costs can escalate rapidly is performance upgrades. The base Taycan models are already impressively powerful, but Porsche offers a range of enhancements to take the driving experience to an even higher level. Options like larger battery packs for increased range, carbon ceramic brakes for superior stopping power, and adjustable air suspension systems can easily add $20,000 or more to the bottom line.

Interior appointments are another area ripe for upgrades. Porsche is renowned for its exquisite cabin craftsmanship, and the Taycan provides a blank canvas for personalization. Opting for premium leather upholstery, custom stitching, upgraded trim materials, and bespoke color combinations can tack on $10,000 or more to the price tag. And that’s before considering conveniences like massage seats, heated surfaces, and similar luxury touches.

Finally, technology packages bundle cutting-edge driver assistance systems, premium audio setups, and advanced infotainment features. While not directly related to performance, these options can greatly enhance the overall ownership experience – but at a cost. Expect to pay $5,000 or more for comprehensive tech package upgrades on the Taycan.

 

Fully Loaded Taycan: What to Expect

While the Porsche Taycan’s base prices may seem reasonable (for a premium EV), the true cost quickly escalates once you start exploring the extensive options list. Like most luxury vehicles, Porsche offers a vast array of customizations and high-end upgrades that can send the final price soaring.

For most buyers, a well-optioned Taycan will likely fall somewhere between $150,000 to $250,000 CAD. Even the “base” Taycan model can easily surpass $175,000 with a few choice options packages. The performance-oriented Taycan Turbo and Turbo S trims, already starting above $170,000, can breach the $300,000 mark when fully loaded with the latest tech and luxury appointments.

Some of the priciest (but most desirable) upgrades include the larger Performance Battery Plus, advanced ceramic brakes, adjustable air suspension, premium audio systems, race-inspired interior packages with exclusive leather and Alcantara materials, and cutting-edge driver assistance features. Opting for the racy Taycan Turbo GT package alone can add over $50,000 to the bottom line.

While eye-watering, these window stickers are par for the course in Porsche’s ultra-premium segment. A fully optioned Taycan may cost as much as a house in some parts of Canada, but for enthusiasts, it represents the pinnacle of electric performance and luxury from one of the world’s most iconic sports car brands.

 

Operating Costs: Fuel/Electricity Savings

One of the major benefits of owning an electric vehicle like the Porsche Taycan is the substantial savings on fuel costs compared to a gas-powered vehicle. With no need for gasoline, Taycan owners can expect to save thousands of dollars per year on “refueling” costs.

According to estimates from Porsche, the annual electricity cost for the Taycan is approximately $500 for the average Canadian driver. This is based on an estimated annual mileage of 20,000 km and an average electricity rate of $0.13 per kWh in Canada.

In contrast, a gas-powered Porsche like the Panamera could easily cost over \$3,000 per year in fuel, assuming 20,000 km of driving and a combined fuel efficiency of around 10L/100km with premium gasoline costing \$1.50 per liter on average.

Over the course of 5 years of ownership, the fuel/electricity savings of the Taycan over a comparable gas Porsche could amount to over $12,500. And those savings would only increase further over a longer ownership period or with rising gas prices.

It’s important to note that electricity rates can vary across Canada, and your actual costs will depend on your local utility rates, driving habits, and battery capacity of your specific Taycan model. But in general, the operating cost savings of “refueling” the Taycan versus a gas vehicle are substantial.

 

Insurance Costs for the Porsche Taycan

Given the Porsche Taycan’s premium branding, high performance capabilities, and cutting-edge electric powertrain technology, insuring this EV won’t come cheap. Insurance providers view the Taycan as a high-risk vehicle due to its powerful acceleration, high cost of repairs, and likelihood of being driven aggressively by enthusiastic owners.

On average, Canadian Taycan owners can expect to pay between $250-$350 per month for insurance coverage. Exact rates will vary based on factors like your province, driving history, annual mileage, and selected coverage levels. But in general, insuring a Taycan costs 20-30% more than a conventional luxury sedan like a BMW 5 Series or Mercedes E-Class.

To give you a better idea, a 40-year-old male driver in Ontario with a clean record could pay around $300 per month to insure a base Taycan model. Opting for higher trims like the Turbo or Turbo S will further increase rates due to the cars’ increased repair costs from exotic materials like carbon fiber body panels.

While the insurance bill is steep, it’s simply the price you pay for piloting a high-end performance EV from an iconic brand like Porsche. Comparing insurance quotes, increasing deductibles, and maintaining a clean driving record can help mitigate costs. But in the end, the Taycan’s insurance premiums reflect its uniquely premium positioning in the EV market.

 

Maintenance and Repair Costs

While the Porsche Taycan saves on fuel costs as an electric vehicle, maintenance and repair expenses are still something to consider. As a luxury vehicle from a premium brand like Porsche, these costs are expected to be on the higher end.

Routine maintenance like brake fluid flushes, air filter replacements, and tire rotations will likely cost more than mainstream EVs due to Porsche’s premium pricing. Expect costs similar to other luxury EVs like the Tesla Model S or Lucid Air.

For more significant repairs, parts and labor from Porsche dealerships won’t be cheap. Replacing items like the battery pack, motors, suspension components, or infotainment systems could easily run into the thousands. However, the Taycan’s robust build quality means major repairs hopefully won’t be needed frequently.

Overall, budget for maintenance costs of around $1,000-$2,000 per year for routine services and smaller repairs. For a major component failure, repair bills could exceed $5,000 or more depending on the issue. While pricey, these costs are expected for a high-end luxury performance EV.

 

Tax Credits and Incentives in Canada

While the Porsche Taycan comes with a hefty price tag, there are some federal and provincial incentives available in Canada that can help offset the costs for qualified buyers. The Canadian government offers tax credits and rebates to encourage the adoption of zero-emission vehicles like the all-electric Taycan.

At the federal level, the Taycan qualifies for the Incentives for Zero-Emission Vehicles (iZEV) program, which provides a rebate of up to $5,000 for eligible battery electric vehicles. To qualify, the Taycan’s base MSRP must be less than $55,000, which means only the base Taycan trim is eligible. However, this federal rebate can still shave a notable amount off the purchase price.

In addition to the federal incentive, several provinces offer their own electric vehicle rebates and incentives that can further reduce the cost of owning a Taycan. For example, in Quebec, the Roulez Vert program provides a rebate of up to $8,000 for qualifying EVs, including all Taycan trims. British Columbia’s CEVforBC program offers up to $4,000 off eligible EVs, while Ontario’s Driving Electrification Forward program provides up to $8,500 in incentives.

It’s important to note that these provincial incentive programs have specific eligibility criteria, such as income limits and vehicle price caps, which may vary depending on the trim level of the Taycan you choose. Be sure to research the specific requirements in your province to determine if you qualify for any additional rebates or incentives beyond the federal iZEV program.

 

Certified Pre-Owned: A More Affordable Option?

For those drawn to the performance and luxury of the Porsche Taycan but put off by the steep new vehicle pricing, exploring the certified pre-owned (CPO) market could provide a more budget-friendly path to ownership. Like many luxury brands, Porsche offers a CPO program that allows you to purchase a gently used Taycan that has undergone a rigorous multi-point inspection and reconditioning process.

Certified pre-owned Taycans can represent savings of 20-30% or more compared to a brand new model, depending on the vehicle’s age, mileage, and condition. Even a 2-3 year old low mileage Taycan could translate into tens of thousands of dollars in upfront cost savings while still providing a like-new ownership experience backed by extended warranty coverage.

The availability of CPO Taycan models will vary based on your location in Canada and may be limited in the first few years as the vehicle is still relatively new to the market. However, as more examples enter the pre-owned pipeline in the coming years, the CPO market could open the door to Taycan ownership for more budgets. It’s an avenue worth exploring if the new vehicle pricing is a stretch.

 

Comparing to the Competition

While the Porsche Taycan carries a premium price tag, it’s important to benchmark it against other high-performance electric luxury sedans on the market. The most direct competitor is the Tesla Model S, which has long been the standard-bearer in this segment.

The Tesla Model S starts at a more affordable $104,990 in Canada for the base Dual Motor All-Wheel Drive model. However, to get performance comparable to the Taycan Turbo S, you’d need to opt for the tri-motor Plaid model which starts at a lofty $149,990. When fully optioned out, high-end Model S Plaid models can also surpass $200,000.

Another key rival is the new Lucid Air, which boasts an impressive 520-mile range rating and blistering acceleration. The base Lucid Air Pure starts at $105,000 in Canada, while the range-topping Air Sapphire commands a $249,000 price tag, putting it squarely in Taycan Turbo S territory when fully optioned.

Compared to these American EV competitors, the Porsche Taycan tends to carry a pricing premium, especially in its higher trims. However, Porsche’s legendary sports car dynamics, premium brand cachet, and attention to detail help justify the higher ask. It’s the most direct alternative to buyers who want a high-performance electric sedan with more traditional luxury trappings.

 

Is Leasing a Better Choice?

For those set on driving a Porsche Taycan but struggling with the steep purchase prices, leasing could potentially make the electric sports sedan more accessible from a monthly payment perspective. Leasing allows you to essentially rent the vehicle for a set period, typically 2-4 years, paying only for the portion of the vehicle’s value you use during that time.

Leasing a base Taycan in Canada could bring the monthly payments down to around $1,500-$2,000 per month over a 4-year term with reasonable mileage limits. While still an expensive proposition, it’s far more palatable than the $120,000+ asking price to purchase outright. And by leasing, you avoid the risk of rapid depreciation that comes with purchasing a luxury vehicle.

Of course, leasing means you’ll never actually own the vehicle and will have to return it or purchase it at lease-end. But for those more interested in just experiencing the Taycan’s performance and luxury for a few years before moving on to the next new model, leasing could make that more financially viable.

Porsche also offers attractive lease rates through their financial services division. So if the Taycan’s purchase price is simply out of reach, it’s worth exploring a lease and weighing whether the lower monthly payments justify not owning the car long-term.

 

Long-Term Ownership Costs

While the upfront costs of the Porsche Taycan are substantial, it’s important to consider the long-term ownership expenses as well. Over a typical 5-7 year ownership period, the costs can add up significantly.

One major factor is depreciation. Like most luxury vehicles, the Taycan is expected to lose a considerable amount of its value over the first few years of ownership. Industry estimates suggest the Taycan could depreciate by 30-40% after 3 years and 50-60% after 5 years. On a $150,000 Taycan, that equates to a loss of $45,000-$60,000 in just 3 years and $75,000-$90,000 after 5 years.

Maintenance and repair costs are another consideration. While EVs tend to have lower maintenance needs than gas vehicles, the Taycan’s complex engineering and luxury components mean service won’t be cheap. Expect costs similar to other high-end luxury vehicles, likely $1,000-$2,000 per year on average for routine maintenance. Bigger repair bills could easily reach $5,000 or more for major components like the battery pack or electric motors.

Other long-term expenses include insurance (estimated at $3,000-$4,200 per year), registration/licensing fees, tire replacements (around $1,500 for a full set), and miscellaneous costs like detailing and accessories. All told, the 5-year operating costs could approach $30,000-$40,000 or more beyond the vehicle’s purchase price and depreciation.

Considering the Taycan’s initial MSRP of $150,000-$250,000, the total 5-year cost of ownership could realistically reach $250,000-$350,000 for many buyers. While that’s on par with other ultra-luxury EVs, it’s a steep investment that only those with substantial means can likely justify.

 

The Porsche Premium: Worth It?

When it comes to the Porsche Taycan, it’s clear that you’re paying a significant premium over competing luxury EVs like the Tesla Model S. But is the Porsche premium pricing justified? For many driving enthusiasts and brand loyalists, the answer is a resounding yes.

First and foremost, the Taycan delivers the kind of exhilarating performance you’d expect from a Porsche. With blistering acceleration, precise handling, and a low center of gravity, the Taycan provides a driving experience that few other EVs can match. It feels planted, agile, and utterly composed – even when pushing the limits.

Beyond raw performance, the Taycan also showcases the impeccable build quality and attention to detail that Porsche is renowned for. Every surface, material, and control exudes a sense of craftsmanship and refinement that elevates the ownership experience. The interior is a masterclass in ergonomics and design, with high-end materials and thoughtful touches throughout.

Then there’s the intangible appeal of the Porsche brand itself. Owning a Porsche is about more than just transportation – it’s a statement of passion, prestige, and a commitment to driving excellence. The Taycan allows you to embrace that heritage while enjoying the cutting-edge technology and environmental benefits of an all-electric powertrain.

Of course, the Porsche premium comes at a cost, and the Taycan’s pricing may be out of reach for many buyers. But for those who can afford it and value the Porsche driving experience above all else, the Taycan could very well be worth the investment. It’s a true Porsche through and through, just with a modern, electrified twist.

 

Who Is the Taycan For?

With its eye-watering price tag and premium Porsche branding, the Taycan is clearly targeted at affluent buyers who want the ultimate in electric performance and luxury. This is a vehicle for those who can easily afford a six-figure car and appreciate the finer things in life.

The Taycan’s buyer demographic likely consists of successful professionals, entrepreneurs, celebrities, and other high-net-worth individuals. These are people who view cars as more than just transportation – the Taycan is a status symbol and expression of their wealth and taste.

Beyond just having deep pockets, Taycan buyers are also likely to be driving enthusiasts who want to experience the thrilling acceleration and handling that only an EV from a brand like Porsche can deliver. The Taycan offers supercar-level performance with the environmental credentials of an electric powertrain.

Families may also find the Taycan appealing as it offers generous passenger space and daily practicality in addition to its performance capabilities. However, the higher trim levels and pricing put the Taycan out of reach for most mainstream family budgets.

Ultimately, the Porsche Taycan caters to a very specific niche – affluent buyers who want a premium EV that makes no compromises in terms of performance, luxury, or prestige. It’s an exclusive club, but one that Porsche certainly knows how to serve with the Taycan.

 

Making Your Decision

When it comes to deciding if the Porsche Taycan is the right electric vehicle for you, there are several key factors to consider based on your needs and budget. First and foremost, the Taycan’s premium pricing means it is out of reach for many buyers – even the base model starts around $120,000 in Canada. However, if you have the means and desire for a high-performance luxury EV with the iconic Porsche badge, the Taycan delivers an exhilarating driving experience and cutting-edge technology.

For those prioritizing performance and handling above all else, the Taycan’s impressive acceleration and road-hugging dynamics make it a true driver’s car, despite being fully electric. The top Turbo S trim can sprint from 0-100 km/h in just 2.8 seconds. If you frequently take weekend trips to the track or just crave that sports car feeling behind the wheel, the Taycan could be worth the splurge.

However, if maximum range is your top priority, you may want to consider options like the Tesla Model S or Lucid Air instead. While still very capable, the Taycan’s range tops out around 400 km, which is less than some key rivals. For those doing mostly city commuting though, this should be more than enough for most daily needs.

Ultimately, your decision should come down to balancing your budget, driving needs, and priorities. If you can truly justify and afford the Taycan’s premium pricing and luxury pedigree is important to you, it could be an unbeatable high-end EV option. But if maximum value is key, there are other compelling electric options that deliver more range and features for less money. Carefully weigh your needs and long-term ownership costs to decide if the Porsche Taycan’s performance and brand prestige are worth the high asking price.

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Questions About Porsche Taycan Pricing in Canada

The cost of a Porsche Taycan in Canada will depend on the model and trim level. Base models of the Taycan start around $119,900 CAD while the top Turbo S models can cost over $218,000 CAD when fully optioned. On average, most Taycan models sold in Canada range from $130,000 to $180,000.

There are several Taycan models available in Canada:

 

– Taycan: Starts at $119,900 CAD

– Taycan 4S: Starts at $131,400 CAD

– Taycan Turbo: Starts at $185,400 CAD

– Taycan Turbo S: Starts at $218,000 CAD

 

There are also Cross Turismo wagon versions of some Taycan models.

The Porsche Taycan comes well equipped even in its base trim. Standard features in Canada include:

 

– All-wheel drive

– 93.4 kWh Performance Battery Plus

– 19″ Wheels

– LED Headlights

– Heated Front Seats

– Porsche Connect with Apple CarPlay

– Adaptive Air Suspension

 

Higher trims add more features like larger wheels, upgraded brakes, active anti-roll bars, rear-axle steering, and more.

Charging costs for the Taycan will depend on your province’s electricity rates. With the Performance Battery Plus, expect to pay around $20-35 CAD for a full charge from empty on Level 2 charging. DC fast charging to 80% costs around $25-40 CAD. Charging at home overnight on Level 1 or 2 can be under $10 per full charge.

Taycan range in Canada varies from 317 km on the base model to 388 km on the 4S, and 407-463 km for Turbo/Turbo S models based on EPA estimates. Cold weather and fast driving can reduce range. The battery and charging system are liquid-cooled to allow fast charging in any climate.

With DC fast charging, the Taycan battery can charge from 5% to 80% in under 23 minutes. A full charge takes around 90 minutes at high-power DC fast chargers. Level 2 charging takes around 9 hours from empty to full. Level 1 home charging requires over 12 hours for a full charge.

With two high-performance permanent-magnet synchronous electric motors, Taycan models deliver extremely quick acceleration. The Turbo S can reach 0-60 mph in just 2.6 seconds while other models hit 60 mph in around 3.5 seconds. Top track speeds range from 233 km/h to 260 km/h.

Yes, the Taycan is engineered to Porsche’s high standards for precision and reliability. Porsche conducts rigorous testing and has very high quality control. Early reliability reports and owner experiences have been very positive. The battery, motors, and electronics are designed for long-term use.

Due to its high value as a luxury electric vehicle, insurance costs will be higher for the Taycan. Expect to pay around $250-$400 per month for basic coverage. Premium insurance packages can cost $500+ per month. Shop around for quotes, as prices vary between providers.

Taycan maintenance costs are quite reasonable compared to gas-powered Porsche sports cars since EVs have fewer parts that require service. Brakes last far longer due to regenerative braking. Typical annual service runs around $500-800 CAD for regular inspections and fluid changes.

Yes, the federal government’s iZEV program provides up to $5,000 off the purchase price of a Taycan. Some provinces also offer additional EV rebates up to $8,000. Tax credits for installing home chargers may also be available. In total, incentives can reduce the effective cost by over $10,000.

Yes, Porsche dealers often run special offers on Taycan leases with competitive rates and terms. Down payments, residuals, allowance kilometers and lease terms vary. It’s best to check with your local dealer for current lease specials. Leasing can cost $800-$1500 per month.

Since the Taycan only launched in 2019, there are very few used models for sale currently. Give it another year or two for more customer trade-ins, off-lease vehicles and auction cars to enter the used market. Expect strong demand and high resale values for used Taycans over the next several years.

A basic Level 2 home charger installation runs $1,200-$2,000 in most cases. Upgrading your electrical panel or service for more amperage, a hardwired wall mount charger, and local permits can add $1,000-$2,500+ to the total cost. Some provinces offer rebates on Level 2 chargers and installation.

The Taycan’s closest all-electric rivals are the Tesla Model S, the Audi e-tron GT, the upcoming Lucid Air, and the Mercedes EQS. Shoppers may also cross-shop high-end EVs like the Jaguar I-Pace or alternatives like the Panamera plug-in hybrid.

Porsche has confirmed that the new Taycan Sport Turismo wagon body style will arrive in Canada sometime in late 2022 as a 2023 model year vehicle. Pricing and specs have not been announced yet. Expect the Sport Turismo to cost slightly more than the equivalent sedan Taycans once details are released.

2023 Taycans will receive some technology upgrades and new options. Updates include remote parking assist, Android Auto compatibility, heated rear seats on lower trims, 22-way adaptive sport seats, and some new exterior colors. Output for dual-motor RWD models may increase slightly. No major changes to range, performance or charging times.

Porsche typically begins releasing next model year vehicles around September-October time frame. So you can expect to see 2023 Taycans arriving on dealer lots across Canada in fall 2022. Allocation and delivery timing can vary, so check with your preferred dealer for more precise ETAs on 2023 model deliveries.

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