[Porsche Wolfe]

I did a search on the internet and notice Porsche used car prices are dropping fast. There are lots of used Porsches on the market today and are asking a lot less than a year ago. Of course, further disruptions in our economy could accelerate more drops in prices. If rapid interest rate increases are matched with automakers production of new cars returning to previous levels, prices on used Porsches could continue to drop quickly. Here are some examples I found today at Porsche dealership's.
2016 Cayman S Trans: 7-Speed Double Clutch Exterior: Red Interior Tan: Mileage: 11,932 price $67,595.
2019 Cayman 718 for $71,000 milage 5,247. 2018 Porsche 718 Cayman S milage 12,107 for $75,000. 2018 Porsche 718 Cayman S milage 1,302 for $78,000
These are just some of the examples what is available now. Used Porsche values will basically start acting like normal again.

 

[Hal H]

all that insanity is finally settling down

I've heard stories about new GT3s going for $100k over MSRP - waiting for that to return to normal

 

[Mark_G]

A used 992 GT3 is ~ £100k over new list in the UK. We don't pay ADM but getting an allocation has always been impossible unless you're on the VIP list.

 

[chester7]

Agree. In December 2021 my local Austin dealer offered me $89,000 USD for my 7,000 mile 2019 Cayman GTS. Seven months later the offer is $76,000 USD.

This is a good thing and needs to happen with all goods.

 

[gatorfast]

I very much welcome the end of this insane inflated car market. Please bring us back to the days of discounts from MSRP.

 

[Robsx]

Popped in to my local OPC yesterday to get an idea of extended Warranty cost and spoke to the salesman while I was there and they are currently quoting 2024 Qtr 3 delivery for 718s. I would think used prices will stay pretty firm for a while.

 

[Mr_G]

Just tracking the local dealer, seems the market isn't quite as rabid as it was earlier in the year. Six months ago, it looked like sellers could ask whatever they wanted and buyers would grab the car and ask how much it cost after they signed the paperwork. It now feels like buyers might be pausing a moment to consider their purchase before pulling the trigger, but still ultimately making the purchase.

 

[Soul Performance Products]

Here's a quick question for you: In general, when buying or selling a Porsche (or even just glancing), how much stock do you put in NADA/KBB for reflecting the current market trends? How well do you feel these sites represent either unique (low mileage or highly optioned, etc) vehicles? If you were selling a car today, would you price according to KBB or use comps of other listings (PCA Mart, FB Market Place, BAT) to arrive at your asking price?

Would love to hear your thoughts!

Dave @ SOUL

 

[Kyle_A84]

Popped in to my local OPC yesterday to get an idea of extended Warranty cost and spoke to the salesman while I was there and they are currently quoting 2024 Qtr 3 delivery for 718s. I would think used prices will stay pretty firm for a while.

That's pretty ambitious considering it's likely by that point they won't even be making ICE vehicles (718's) any longer.

*Edited to include the 718's as I'm aware not all ICE Porsches are going away this soon.

 

[PLF69]

Il

That's pretty ambitious considering it's likely by that point they won't even be making ICE vehicles any longer.

What ? ICE are going to be here for a while.

 

[Kyle_A84]

Il


What ? ICE are going to be here for a while.

ICE is supposed to be gone for the 2025 model year which I would think would be on showroom floors by Q3 2024.

 

[Hal H]

That's pretty ambitious considering it's likely by that point they won't even be making ICE vehicles any longer.

I'm lead to believe with the press releases from Porsche AG that the next generation 718 is EV when MY '25 goes into production

the 911 models will have a transition that will probably be hybrid rather that going to EV directly from ICE

 

[Mark_G]

Current battery tech doesn't really allow for a proper sports car around 1500 kg with decent range and Porsche performance.

I think Porsche will be looking at hybrid tech initially. I can't think of any other reason they are looking to get into F1 with the 2026 engine rule changes (as and when the FIA actually confirm them).

 

[Kyle_A84]

I'm lead to believe with the press releases from Porsche AG that the next generation 718 is EV when MY '25 goes into production

the 911 models will have a transition that will probably be hybrid rather that going to EV directly from ICE

Yes my comment re: 2025 for no ICE was specific to the 718, I understand the 911 will not be EV in 2025. But this is the 718 forum and my comment was quoting the Dealership specifying they are quoting Q3 2024 for 718's which sounds overly ambitious.

 

[Hal H]

The info conveyed in post #6 - that date seems an odd quote - that would be two years out from now - many changes are possible in the next 2 years

and one thing that Porsche AG did mention in Q2/2022 (for future production) is that mid CY '23 than Osnabruck is coming online for 718 production to take up backlog on in addition to the output coming from the Zuffenhausen plant (and get 992 production backlog addressed as well at Zuffenhausen)

 

[gatorfast]

Here's a quick question for you: In general, when buying or selling a Porsche (or even just glancing), what how much stock do you put in NADA/KBB for reflecting the current market trends? How well do you feel these sites represent either unique (low mileage or highly optioned, etc) vehicles? If you were selling a car today, would you price according to KBB or use comps of other listings (PCA Mart, FB Market Place, BAT) to arrive at your asking price?

Would love to hear your thoughts!

Dave @ SOUL

Personally, I would only use KBB/NADA as a data point and make my own determination on price based on what I see listed online and more importantly what I see selling. For trade in though, KBB (along with Carmax) is definitely a good reference to have.

 

[Socal_718]

prices seem to be steady from when I was searching a couple months ago and 6MT Caymans are still very hard to find on the west coast unless you want to pay $130K on up for a GT4....

 

[Robsx]

The info conveyed in post #6 - that date seems an odd quote - that would be two years out from now - many changes are possible in the next 2 years

and one thing that Porsche AG did mention in Q2/2022 (for future production) is that mid CY '23 than Osnabruck is coming online for 718 production to take up backlog on in addition to the output coming from the Zuffenhausen plant (and get 992 production backlog addressed as well at Zuffenhausen)

Hi Hal,

I agree I was pretty shocked myself, but the Salesman quoted that if an order was placed now you are looking at delivery 2024 Qtr3 possibly Qtr2, and you're absolutely right there would be little point in ordering your perfect car only for the specification to change a couple of times at least before delivery. I didn't get into a long conversation with him regarding a new build as the delay seemed crazy, but did have a close look at a very nice Yellow 4.0 GTS they have in.

The Cayenne and Macan delivery times are more realistic (although I didn't ask for more details). This was at a South of England dealership on Monday.

 

[chester7]

ICE is supposed to be gone for the 2025 model year which I would think would be on showroom floors by Q3 2024.

The latest Economist casts doubt on quick roll-out of competitive EV's, under the VW umbrella at least.

From the Economist:
1) As Mr Diess has found, VW’s size makes it hard to turn around, let alone turn into a Tesla-like tech firm. Its mass-market electric offerings have underwhelmed. Jefferies, an investment bank, reckons VW will have spent 40% more than Tesla in their competing quests to make 2m EVs a year by 2023. Serious troubles at Cariad, a 5,000-strong software division, could delay the launch of new Audi and Porsche EVs by a couple of years.

2) Mr. Deiss was booted in part because of his frequent reminders that it took VW 30 hours to make a car that Tesla, America’s EV champion, could knock out in ten.

 

[Hal H]

The latest Economist casts doubt on quick roll-out of competitive EV's, under the VW umbrella at least.

From the Economist:
1) As Mr Diess has found, VW’s size makes it hard to turn around, let alone turn into a Tesla-like tech firm. Its mass-market electric offerings have underwhelmed. Jefferies, an investment bank, reckons VW will have spent 40% more than Tesla in their competing quests to make 2m EVs a year by 2023. Serious troubles at Cariad, a 5,000-strong software division, could delay the launch of new Audi and Porsche EVs by a couple of years.

2) Mr. Deiss was booted in part because of his frequent reminders that it took VW 30 hours to make a car that Tesla, America’s EV champion, could knock out in ten.

Tesla certainly certainly "knocks" they out - 'casual' is the kindest term I'd use for their quality control. Paint runs (mirrors, front fenders) are pretty much on everything. And panel fits

5+ years of model 3 and they still have issues. A friend has a detail shop - and does paint correction and PPF on a lot of Teslas - I've seen the crappy build quality myself.

30 hours is longer than industry average, but VW assembles things far better - there is room for improvement and efficiency.