[Kyle_A84]

Porsche Warns Significant Price Increases Planned For 2024MY Cars

Porsche aims to achieve a 20-percent return on sales, and doing so will require making its cars more expensive from the middle of this year.

www.motor1.com

Porsche is now on the record stating there will be significant increases for MY 2024.

Do you all think this will also apply to the 718's, or will they be impacted less than other models? It makes sense for refreshed or revised models like the Macan to see a larger than normal increase, but the 718 is now essentially on year 14 of the same platform. Can Porsche justify large increases on such an old platform which is on its way to being obsolete?

Anyone want to take a guess how much of a percentage increase we see for MY 2024 for the 718's?

 

[Hal H]

I'd venture its across all the model lines

going from '22 to '23 the CGTS was ~ $2,600 price increase for base MSRP as a reference

 

[marco_polo]

I'm expecting a couple more toys as standard (autonomous emergency braking, lane change assist, etc) and roughly a 10% price bump.

 

[Kyle_A84]

I'd venture its across all the model lines

going from '22 to '23 the CGTS was ~ $2,600 price increase for base MSRP as a reference

That is what I'd call an expected increase, 2-3%, if that's all it is for MY2024 I'd be elated. But when they say expect big increases I'm picturing double digits, if so and adding in the new Canadian luxury tax the car would be $10 - $15k more than MY2023. (In Canada)

 

[Bugno]

That's what I feared. So, I had to pay > MSRP for a '23. Will still be less than a '24 if this is the case....

 

[yellolab]

I guess I read it differently. To me, we can all expect the ~3% increase on current cars.
It's the EV version will cost 15% more. Just the EV, not the ICE.

 

[Treemagnet]

I'm expecting a couple more toys as standard (autonomous emergency braking, lane change assist, etc) and roughly a 10% price bump.

10% would be my guess as well....across all product lines. Porsche has effectively been at full production for quite some time now and inflation has outstripped price increase by a significant amount over the past 2 years. If I was in charge, I would have put the hammer down for the 2022 model year. I would have been seriously impacted, so I'm elated they elected only minor increases. Regardless, this should help maintain resale value for those parting ways with their 718's.

 

[Maxxsirrah]

I've read somewhere that it is expected to be 5% to 8% across the entire model range. But as always with Porsche, we are all always just guessing!

 

[Porsche Wolfe]

"Porsche AG (POAHY.PK, POAHF.PK) reported fiscal 2022 operating profit of 6.8 billion euros, an increase of 27.4 percent from last year. The Group operating return on sales rose to 18.0 percent from 16.0 percent. Profit attributable to shareholders increased to 4.95 billion euros from 4.03 billion euros, last year. Earnings per ordinary share was 5.43 euros compared to 4.42 euros. Porsche brand is the world's most profitable carmaker."

 

[rasetsu]

This is like Disneyworld raising admission prices not because they are hurting but because they have way more than enough demand.

 

[GPhilpott]

I'm going out on a limb here and making this guaranteed prediction: There will be a price increase, and it will be too much for some people and not so bad for others......

I don't even think the accountants in Germany have a firm number in their heads yet.

 

[rank1]

How does this work if you got allocation and production date is right around when they switch to MY24?

 

[GPhilpott]

How does this work if you got allocation and production date is right around when they switch to MY24?

Your dealer would give you the most accurate answer. My 'guess' is that when you build your car and submit to dealer and get a V200 order confirmation sheet from the dealer with the price on it then that is price you'll pay when delivered. If you aren't at that stage yet then you'll probably pay the increase if that happens first. If an ADM was discussed then maybe there is some flexibility on that front, but again, your dealer will have the best answer.

 

[Kyle_A84]

How does this work if you got allocation and production date is right around when they switch to MY24?

My SA told me that all of the allocations they are getting for MY2023 are already assigned and they are waiting on MY2024 allocations. if you have an allocation already I’d have to guess it’s for a MY2023 and you already know the pricing

 

[Dragobrath]

10% would be my guess as well....across all product lines. Porsche has effectively been at full production for quite some time now and inflation has outstripped price increase by a significant amount over the past 2 years. If I was in charge, I would have put the hammer down for the 2022 model year. I would have been seriously impacted, so I'm elated they elected only minor increases. Regardless, this should help maintain resale value for those parting ways with their 718's.

This is also the reason I ended up with a car. Our country had a record inflation over 20% last year. The housing market price hikes were just obscene. My apartment price has increased by 60% since 2020, when I bough it, and there's no chance to have a significant upgrade even with selling my current home and exhausing the loan limits. But the car prices increased only by ~5%. We get our salary adjusted to inflation every year + I got a nice raise, so Cayman actually felt like a nice deal. I expected significant price jump in 2022, but it was only ~€2.5k.

 

[rasetsu]

How does this work if you got allocation and production date is right around when they switch to MY24?

If your allocation somehow gets rolled over into being a MY24, you will be informed of the increase if any and you have the option to continue with the new price or back out. This has happened before with not just base price increases but option availability and same thing with that. The dealership is at the mercy of Porsche as much as the customer is and they aren't going absorb the difference for the customer when there are other customers in line who would be happy to pay the increase and move up the line. In general though, if you have an allocation that is actually locked, that means Porsche has already locked down that build for that model year.

 

[Flt6go]

I’m with you - this article doesn’t provide a direct quote and it feels unclear to me. Porsche’s site may eventually have a transcript of the analyst call this came from that should provide more clarity.
I found it odd that the article referenced a price “increase” on the EV model - odd to say “increase” when there never was a prior MSRP to compare to. Maybe “price premium” vs ICE model is what was meant.

I guess I read it differently. To me, we can all expect the ~3% increase on current cars.
It's the EV version will cost 15% more. Just the EV, not the ICE.

 

[PeC]

If your allocation somehow gets rolled over into being a MY24, you will be informed of the increase if any and you have the option to continue with the new price or back out. This has happened before with not just base price increases but option availability and same thing with that. The dealership is at the mercy of Porsche as much as the customer is and they aren't going absorb the difference for the customer when there are other customers in line who would be happy to pay the increase and move up the line. In general though, if you have an allocation that is actually locked, that means Porsche has already locked down that build for that model year.

When I ordered the car in 2021, the contract was signed with prices for every options listed. I got the allocation in 2022 right before price increase, meaning the price was fixed.
Even though allocation was shifted to MY2023 after multiple delays, price remained the same. Got the car for the original price.

 

[Maxxsirrah]

This is also the reason I ended up with a car. Our country had a record inflation over 20% last year. The housing market price hikes were just obscene. My apartment price has increased by 60% since 2020, when I bough it, and there's no chance to have a significant upgrade even with selling my current home and exhausing the loan limits. But the car prices increased only by ~5%. We get our salary adjusted to inflation every year + I got a nice raise, so Cayman actually felt like a nice deal. I expected significant price jump in 2022, but it was only ~€2.5k.

You're right on here. Global inflation has been nuts the last two years, but Porsche price increases have been well below this level, so I guess there's some catching up to do.

Taking the UK as an example, inflation ran at 13.8% from the date i placed the order for my car to the date of delivery (March 21 to Nov 22), but my base price paid (ignoring options) went from £66,340 to £70,000 which is just 5.5%, this is £5,500 less than if the price had been adjusted by inflation!

 

[PeC]

You're right on here. Global inflation has been nuts the last two years, but Porsche price increases have been well below this level, so I guess there's some catching up to do.

Taking the UK as an example, inflation ran at 13.8% from the date i placed the order for my car to the date of delivery (March 21 to Nov 22), but my base price paid (ignoring options) went from £66,340 to £70,000 which is just 5.5%, this is £5,500 less than if the price had been adjusted by inflation!

Did you have to pay more than you have ordered?