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I am the second owner of a 2023 panamera 4 which had 150 miles on it when I got it. The first owner did not even use up a tank of gas. I got 30k off of msrp.
Last I checked the Panamera was the second most expensive car they sell starting out, and has the absolute worst depreciation of any German luxury car.
Panamera depreciates 46% over 5 years per CarEdge. S class Mercs are 51% over that same time per US News.