Spoke to my dealer yesterday about the 997 TT face lift. In our conversation we started talking about my car to see if I were to sell it how much would I get. The dealer told me they are selling 08 coupes above sticker and that Porsche has cut down the production drastically. Since the allocation on 08 are less, the prices of 07 have gone up. I also spoke to a friend of mine who is a luxury car broker and told me the same thing. Just wondering if this BS or not.

 

Selling above list? That's nuts. Don't believe it. AP reports Porsche sees slowdown coming, though I doubt we'll see rebates in the mail.




Automakers expect rough year for luxury brands

Analysts say affluent buyers waiting for stock market to rebound

DEE-ANN DURBIN

Associated Press


CHICAGO --

Automakers are introducing plenty of luxury vehicles at this year's Chicago Auto Show, from the $78,000 Yes! roadster to Porsche's performance-oriented Cayenne GTS.But the models may be met by empty wallets.
Analysts and some automakers predict luxury sales will fall this year as the nation's economic woes put a pinch on high-end buyers.

"Typically in a declining market, you usually don't see luxury vehicles drop off...," said Joe Barker, senior manager of North American vehicle sales forecasting for CSM Worldwide.

"But in recent months it appears even the affluent car buyers are even pulling back a bit on auto purchases."

Porsche predicts problems

Peter Schwarzenbauer, president and chief executive of Porsche Cars North America, said Thursday that Porsche has seen a downturn in U.S. luxury sales, particularly in the past two to three months, and believes the segment will have a tough time compared to 2007.Porsche's U.S. sales edged up 1.4 percent in 2007, compared to a 3 percent decline in sales industrywide.

"We are currently forecasting what we call internally a mild recession," Schwarzenbauer said at the Chicago Auto Show. "If it's a mild recession, we don't see a huge impact on our forecast. If we have something deeper, then we have to talk again."

Luxury buyers are often resilient in the face of wider economic concerns, and 2007 sales bore that out. U.S. luxury sales were flat in 2007 even as the industry fell as a whole.

But in January, sales of BMW, Ferrari, Lexus, Jaguar, Lincoln and Porsche vehicles all dropped, among others.

Mercedes-Benz and Cadillac were among the few who bucked the trend, with both reporting sales increases of 7 percent.

Although one month doesn't establish a trend, Jack Nerad, executive market analyst for Irvine, Calif.-based Kelley Blue Book, said it's likely recent stock market declines have given luxury car buyers the jitters.
Downturns on Wall Street -- in this case caused by recession fears -- affect the higher-income customers who buy luxury vehicles, Nerad said. Many of those buyers have seen their home values drop and adjustable rate mortgages go up, he said.

Nerad expects the luxury vehicle slump to continue until the stock market bounces back.

"It's not that these people don't necessarily have the money to buy. There is also the feeling that ... I'll postpone my purchase for six months," Nerad said.

Paul Taylor, economist for the National Automobile Dealers Association, said a federal stimulus package could reverse the stock market, but as long as stocks and real-estate markets are down -- particularly in large states like California and Florida -- luxury car sales will suffer.

Weak dollar doesn't help

Another headache for European luxury makers is the weak U.S. dollar, which forces them to either take a loss or raise prices for European-made vehicles.

Mark LaNeve, General Motors Corp.'s vice president for North American sales and marketing, said one reason Cadillac is doing well is that it's making cars in its home market, avoiding currency fluctuations. But he said GM's luxury Swedish Saab brand is feeling the pinch.

A weak yen could work in favor of Japanese luxury makers. But Lexus spokesman Greg Thome said the brand is nevertheless expecting a tough year, particularly in the first six months.

Still other luxury makers insist the economic downturn won't affect luxury sales at all.

German-based Funke & Will AG, which makes the handcrafted Yes! roadsters, will introduce the $77,995 Roadster 3.2 and its $97,995 turbocharged version to the U.S. market this year.

"We don't see ourselves as a luxury car. It's a driving car," said Ingolf Hainish, the company's head of sales.

 

My dealer cannot get enough TT's new or used to fill demand. While over sticker may be a dream, there certainly has not been a 25% 1st year hit

 

Resale on the new turbos have been wayyyyyy better than the 996s due in fact to there being less produced. We do not charge over sticker but all of our cabs have sold at sticker with the coupes at or slightly below. As of right now I think there is only one Coupe availabel to change for the rest of the year and two cabs. Down south West Palm, Miami they are "supposedly" getting over sticker for cabs still!?

How long it will last is yet to be seen.....

 

You're dealership is selling 08's above sticker? Walk away. Even in a small market like Wisconsin...it ain't happening.

 

All you need to do is check fleabay for TT cabs that have been listed for months. May are listed with buy-it-now at list.

TT coupes are even softer.

 

There are plenty of cars on the market for well under sticker. Dealers will always hype their product, it doesn't matter what the reality of the economic situation is.

 

Good article Eric. Explains why my 996C4S that I recently put on the market has not sold and why I am paying full price (but not over sticker), for my new 08 997TT! I too am hoping the market will rebound for many reasons!

 

amen!

 

FWIW, I ordered a well optioned 2008 TT Coupe from a very well known Southern California Dealer. MSRP came in at $154 and I received $3,000 off MSRP. I think a lot has to do with the particular salesperson as others from the exact same dealership told me no way could I get a penny off MSRP.

 

It's probably also more likely to expect to get $3,000 off a car with $30,000 in options than to get a similar discount on a $128,000 vehicle, so the amount you are spending probably has a lot to do with it as well. I was only able to get $1,000 my deal after polling 5 dealers on a $139,000 car.

 

We have taken a deposit for our last 08 Coupe yesterday. We do however have 2 Cabs available to be built if anyone is interested let me know : )


-Andreas

 

I wouldnt expect to see much depreciation in the first year. People forget that when the 996tt came out, dealers were asking 169k for 125k cars nearly a year after they came out. But there hadnt been a turbo produced in 4 years.