Porsche Blinks On Panamera Plug-In Pricing Again In Canada – Cuts Another $3,400 Off, US Next?
The Panamera S e-Hybrid was an “OK” seller for Porsche in North America when it first launched in 2013. Then then Cayenne S e-Hybrid debuted and future sales were all shot-to-heck.
The Panamera plug-in sport sedan features 416 horsepower – via a V6 gas-powered engine and electric motor.
The two motors combined to yield a 50 MPGe equivalent (4.6L/100 kms in Canada) while still zipping to 60 mph in 5.2 seconds with a top speed of 167 mph (270 km/h). The Panamera S e-Hybrid also has an EPA-rated 16 mile (26 km) all-electric range from a 9.4 kWh battery.
Comparatively, when the Porsche Cayenne S e-Hybrid arrived, it offered a similar package – 416 hp, 14 miles (23 km) range, o-60mph in 5.4 seconds, but also in SUV form…and for about ~$26,000 less in Canada ($87,700).
Perhaps not unexpectedly, the result was a thwump (technical term) in sales for the Panamera S e-Hybrid.
Average monthly sales results for the Panamera PHV dropped from about 100 sales per month in North America (pre-Cayenne plug-in) to about 40/month thereafter. So far in 2015 (through October), just over 1,000 electric Cayennes have been sold in North America versus ~400 Panameras.
In response, and realizing they have priced the Panamera S e-Hybrid incongruent to the market, Porsche Canada has cut the price of the Panamera S e-Hybrid for the second time in less than 1.5 years.
This most recent cut is for $3,400 (previous cut in July of 2014 was for $3,000) – down to $106,600 ($80,500 USD) – which is now the same price as the standard Panamera S, but still a premium of some $18,900 over the Cayenne S e-Hybrid at $87,700. The 2014 model year car originally debuted in Canada for $113,000 ($85,300).
In the US, the Panamera S e-Hybrid starts at $93,200, while the Cayenne plug-in MSRP base begins at $77,200.
Could a re-alignment of US pricing be far behind? The only issue of course, is any reduction would price the plug-in Panamera S under the standard S.
Porsche Canada Press Release:
Porsche Canada realigns pricing of its plug-in premium sports sedan
2016 Panamera S E-Hybrid now starts at $106,600
MISSISSAUGA, ON, Nov. 9, 2015 /CNW/ – Porsche Canada announced today that it had lowered the starting price of the Panamera S E-Hybrid for 2016 model year, effective immediately. The first plug-in hybrid vehicle in the luxury segment will now be offered starting at $106,600 – a reduction of $3,400 compared to the 2015 model year.
This adjustment effectively brings the price in alignment with that of the Panamera S. Now, the Panamera S E-Hybrid represents an even more compelling choice in the segment, offering such quintessential Porsche traits as style, performance, quality, and impressive efficiency of its advanced powertrain.
The hybrid tradition at Porsche extends back to the year 1899 and to the Lohner Porsche – the world’s first vehicle to have a battery-powered electric drive as well as a combustion engine, which was designed and built by Ferdinand Porsche. The Panamera S E-Hybrid set standards worldwide as the first plug-in vehicle of the premium class. The 2016 Cayenne S E-Hybrid follows, transferring forward-looking technology to the premium SUV segment. Extraordinarily powerful hybrid technology was also featured in the 918 Spyder super sports car. This car serves as an example of technology transfer from motorsport to production cars: the most advanced form of hybrid drive technology is currently implemented in the 919 Hybrid race car, winner of the Manufacturer’s title in the 2015 World Endurance Championship.