All big premium SUVs are expensive to buy, lease and insure, but even in this context the Cayenne is pretty pricey. A BMW X5 will certainly be cheaper, especially after discounts. However, if you go for the Cayenne Diesel or Diesel S models that we favour then at least you won’t spend a fortune on fuel because both managed more than 31mpg in our real-world tests. All Cayennes hold their value fairly well, too.
The S E-Hybrid model looks like it should be very efficient, but actually if you do more than around 20 miles each day – at which point you’ll start using the petrol engine rather than the electric range – it’s very expensive. This is a model that makes sense only for a niche number of company car buyers who’ll benefit from the fairly low CO2 and car tax, and who only commute very low miles. Even then, a Volvo XC90 T8 is faster, much more practical, and is almost half the company car tax.
Having said that, higher-end models will be really expensive to run as well as purchase; as efficient as they are comparatively, they’ll still drink fuel at a prodigious rate, and will go through tyres quickly. All Cayenne models need a minor service in the first two years or 20,000 miles, and a major service within four years and 40,000 miles, both of which are expensive.