As electric vehicles (EVs) move into the mainstream, some manufacturers are testing the waters with high-powered, performance-oriented models aimed at the enthusiast market.Models like the 2024 Dodge Charger Daytona Scat Pack—a bold, electric iteration of the classic muscle car—join the likes of the Tesla Model S Plaid and Porsche Taycan, all built to deliver raw power, speed, and style. But, as more high-performance EVs enter the market, the question remains: do enthusiasts actually want them?Dodge’s high-stakes shiftOne of the newest entries into the performance EV market is the 2024 Dodge Charger Daytona Scat Pack. Dodge’s decision to bring back the Charger as an all-electric muscle car says a lot about where they think the EV market is headed. With an electric motor capable of delivering up to 670 horsepower in the Scat Pack trim, the Charger Daytona is Dodge’s effort to attract traditional performance enthusiasts—particularly those who may still be on the fence about going electric. Dodge has even incorporated a special “Fratzonic Chambered Exhaust” that simulates the thundering noises drivers enjoyed in the last generation’s V8 engines.
Dodge Charger Daytona SRT ConceptDodge
Dodge’s bold approach highlights the belief that there’s an appetite for performance-oriented EVs. In doing so, Dodge isn’t just reaching for the EV-friendly crowd but is targeting muscle car fans who value power, speed, and sound. Exactly how many drivers fit in the venn diagram between classic V8 fanatics and the EV curious remains to be seen.Related: How Trump’s win could reshape U.S. car policyThe Porsche Taycan’s big red flagOf course, consumer interest in high-performance EVs isn’t a total mystery. While the new Charger Daytona isn’t on the road yet, Porsche’s all-electric Taycan sports car has already been on the market for years, with the dwindling sales to prove it.The Taycan made a splash when it debuted, earning praise for its driving dynamics, sleek design, and undeniable Porsche DNA. However, recent sales figures paint a troubling picture. Through the third-quarter, Porsche has sold 3,394 Taycans in the U.S. this year, equating to a 53% decline in sales from its peak in 2021.
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For context, Porsche’s Panamera was the only other model in its lineup to see a sales decline during that same time period, and even then the Panamera’s decline was just 10%. Every other model in Porsche’s lineup has sold more in 2024 than in 2021.
Porsche Taycan
What’s driving the decline?Several factors could be contributing to this decline. First, the Taycan’s high price point limits its appeal to a niche luxury market, particularly as competition in the luxury EV space intensifies. Models like the Lucid Air and even the Mercedes EQS offer alternatives that appeal to different tastes, crowding the field. Second, the Taycan’s shorter-than-expected range has also been a sticking point for some consumers, especially as range remains a top priority for many EV buyers.The Taycan’s trajectory raises an important question for the performance EV market: are consumers primarily seeking acceleration and top speed, or are they more interested in practicality and daily usability? The Taycan’s initial buzz may have been driven by brand prestige and curiosity, but its recent declines suggest that the market for high-performance EVs may be more fragile than initially thought.The consumer sentiment mysteryFinding direct sales data on high-performance trims can be challenging, making it difficult to quantify how interested buyers are in performance models of EVs like the Kia EV6 and Ford Mustang Mach-E.
Ford Mustang Mach-E
The Mach-E, for instance, has reported a 23% increase in sales so far this year compared to 2023, but since Ford doesn’t break out sales for the GT variant it’s impossible to know if enthusiast-oriented trim has seen the same growth. It’s a similar story with Tesla, Mercedes, Kia and BMW, all of whom offer performance trims of some of their EV offerings, but don’t share sales data for them.Still, the upcoming Charger Daytona may give us a better picture once initial sales figures come out for it. We find it hard to imagine it beating the numbers that its outgoing V8-powered predecessor put up, but we’re ready to be surprised.A stupid amount of powerA big problem facing performance EVs is one of power—not a lack, but an over abundance of it. Traditional performance trims of ICE cars almost always offer a big horsepower upgrade, often through a big, shiny turbo or supercharger. That general principle is still true for something like the Tesla Model S. The issue is, even the base Model S isn’t exactly lacking in power. With 670 horsepower and a three second 0-60 time, how many people are really going to feel the need to spend an extra $15,000 or so dollars on the Plaid trim? The gap just isn’t big enough.Related: 2024 Toyota Land Cruiser buyer’s guide: Pricing, specs and adventure-ready featuresIt’s a similar story with Cadillac’s all-electric Lyriq, which is receiving a performance “V” trim for the 2026 model year. While we don’t have performance figures for the Lyriq V just yet, we do know that the plain all-wheel drive Lyriq available now already offers 500-hp and 450 lb-ft.Of course, performance isn’t just about straight line speed. But, in practice anyways, that’s the only way many drivers really use the high-powered gas cars they have now. And when the vanilla-version of an EV already has power to share, how many people are going to willfully open up their wallets just for some absurdly impractical power figure?Final thoughtsThe market for high-performance EVs is still a bit of a mystery. For a segment of buyers, high-powered EVs like the Dodge Charger Daytona Scat Pack, Tesla Model S Plaid and Porsche Taycan represent the future of performance driving. But declining sales of the Taycan and continued emphasis on affordability and range for the broader EV market suggest that performance EVs are more likely to remain niche products for the time being.Automakers will likely continue to produce these halo models to boost brand prestige and draw attention to their broader EV lineups, but exactly how many enthusiasts are interested in actually buying these models remains an open question for now.Related: Volkswagen’s China crisis: Can the German giant survive the EV price war?