The 2024 Porsche Taycan EV looks like an amazing vehicle. It has 750 horsepower and can rocket from 0 to 60 in just 2.4 seconds. It’s also loaded with tech gadgets, heated leather seats, and other luxurious amenities. It’s really too bad they made it electric because no one wants to buy the stupid things, and they’re still sitting on the dealer lots all around the world.

The sagging sales of the Porsche Taycan are just the latest black eye for the collapsing EV market. The Taycan’s battery is only capable of 246 miles on a single charge, which is very weak when compared to the car’s $196,000 price tag. Or we should say what used to be the Taycan’s price tag.

Porsche has been forced to offer steep discounts in a failing effort to move the 2024 models off the lot. In addition to $7,500 off in lease incentives, Porsche is chopping an additional $15,000 off the sticker price of the Taycan. That’s a grand total of $22,500 off for any sucker who wants to take a chance on it.

The Porsche Taycan EV is so unwanted that even the price of a one-year-old used one has dropped by more than $30,000. There doesn’t appear to be any market left for used cars, so private sellers who are unhappy with their Taycans have to offer huge discounts to get out from under them.

Porsche’s profit margin has also collapsed by more than 20% since the introduction of the all-electric Taycan. You have to wonder how long it will take before some of these auto manufacturers realize that this electric car fad just isn’t catching on with the public.