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Originally Posted by Mazatlan
I believe PCNA June sales are down 66% YTD, truly awful news for Porsche.
BMW and Mercedes Benz reported declines of 20% and 22%, respectively.
I've heard from a few colleagues that it is almost impossible to lease a P-car; they have been declined by Porsche Financial and these are guys in their mid-30s with stellar credit history. One of my closest friends who has dozens of cars from MB, BMW and Jaguar was declined a few days ago actually. He leased an SL63 the next morning. Another loss for Porsche.
From Trundle997's post, it appears that there are over 1,600 P-cars sitting and collecting dust at lots --- for Porsche to deny people leases/finance deals is suicide in today's market.
I've been following Porsche in the Financial Tims and WSJ and their situation is certainly dire. Only the country of Qatar can save Porsche from becoming the next GM with a few billion dollar infusion.
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Actually the SL Mercedes lease is a bigger loss for your friend because his lease terms are so rigid and MB is so inflexible that by the time he's done he might just feel that he was financially crucified . If he's in his early 30's it's tender age to learn a tough lesson but education is expensive .
In my opinion Porsche leasing has never been strong . It's only in recent times that Porsche is testing the waters dabbling in this BMW type of attention deficit consumer lease program . No wonder they are nervous .
Just as Porsche is a traditional car most of its buyers want to make a commitment to the car beyond the typical three year pump and dump of a lease . That commitment usually means buying the car . CPO programs are up and they are on the rise . That's where Porsche has strength and if they see it they will advance the program even further.
Speaking for myself -I have never leased a Porsche . I want to own the car . I want to capture my small piece of automotive history and have my name on the title .
If that means that not everyone can have the car in a flea market lease transaction then it is my opinion that those who do attain them can even cherish more what they have.