so where's my PM? i PM'd you. no answer??? geuss it WAS BS

 

Maybe it was BS. I find these low price stories a little hard to believe. I looked seriously for my CGT about 4 months ago, and never found a low-price deal that was REAL. The local P dealer here just sold 2 more new '05's for MSRP.

I think there are a few dealers that got greedy, and now they have to dump the cars because they are paying interest. But, the dealer profit in these cars is only about $25K - a relatively small percent. To sell at $400K, they have to be willing to LOSE $25K.

The CGT is a weird commodity - soon it will not be sold new at MSRP - so there will only be the second hand market to determine its value. It will be like any other collector car - prices may swing wildly, and the price will depend on the individual person buying it, and the location.

My 2 cents....

 

The market is so small, and information so sparse, that some parties may try to play by seeding the web boards with very pessimistic (low) transaction prices. Perhaps they seek to beat down the dealers' expectations to their advantage. Maybe some just get really lucky to find a skittish/dumb dealer to talk to (before the dealer comes to his senses).

I agree that forcing all of the remaining MY '05 and MY '06 allocations into a very compressed time table distorts the apparent supply/demand ratio to the detriment of an orderly market. It's my expectation that there will come a day when all the current "fence sitters" figure out that there are no more new CGTs, other than the ones sitting in showrooms.

The timing of this day will coincide with the realization that "the clutch" issue only applies to the most inept or impatient of drivers and that the CGT is actually the sweetest-to-drive sports car in recent memory, or reasonable expectation of the future, in its price class.

What dealer in his right mind would sell "the last new CGT in the USA" for a huge discount? As the availability dwindles, wouldn't prices actually go up somewhat?

We may have already passed the market bottom in new CGT prices.

 

Agreed - Park Place in Dallas has a yellow one in stock - no doubt they will sell it for MSRP if not above.

 

I was probably told a little more than I should have been told. The $ 398,000 price is a break even price for the dealer as they are getting money back from Porsche on them. At least that is what I was told. I doubt you will find one for less than the $ 398,000.

 

dealer cost for the car is 415k. PDI is about 1k. 416k is the price that they won't lose money on it. Porsche rebate od 18k, interesting...

 

Is it really true that P is giving money back to the dealers? Maybe that is a new thing? My dealer friend says a lot of dealers complained to P about the low profit margin on these cars.

OTOH, I met my local PNA rep, and he had to arrange MORE cars for my dealer to sell. So, I'm not convinced that Porsche is convinced that the cars are hard to sell.

 

There seems to wishful thinking on the part of both past and future buyers. One thing for sure anyone who overpaid, i.e. $600K, was just plain stupid.

Another thing, there are an incredible number (for the supposed relative scarcity) of these cars available at the moment. Many dealers have one, if not two available. I get frequent calls about the availability of cars, new and used.

I would be more comfortable about stability in the market if I saw Dealers buy the used ones for inventory as opposed to only taking them on consignment. I don't know the future value any more than anyone else but the preponderance of "emperical" evidence does suggest to the objective ( and patient) observer that values are still on the decline.

Further, if it's true that some walk from a transaction, losing a $50K deposit, then that leaves the Dealer a lot of room to discount. Which is smarter, not buy the car and lose $50K, or buy the car and be offered $325-340K from the dealer, or try and sell it on consignment around $400K (if you're lucky and find the right buyer) and pay the dealer $25K

Further I doubt that the dealer has only $25K in the car, but understand they would like everyone to think that way. How do we know what special arrangements exist between Porsche and the Dealer..like they're going to tell us!

The last time I looked a few days ago there were over 50 of these cars (autobaron) available, and that didn't count the local cars. Rarity is not a factor here, yet..but then I have always been in the school that maintained Porsche was building too many (500) of these cars and belated price increase was "greed" not value.

The market as always will tell the tale, I'd be curious to know how many more are to be delivered and will they continue 05 production until December?.

There is no doubt that it is a great car, but there is great doubt about it's value, present and future.

 

the demend ouside US are still hot.

 

cnc,
i wouldn't say those people paid 600k or above msrp are stupid. i guess they have the bragging right to be the first ones right. doubt they'd care if u can pay that kinda mark-up for a car. if they don't spend on it the money will be waste else where anyways. to be the first one u'll have to pay to play. i remember the very first US GT2 was sold for over 250k.

 

dealer profit is 25 + porsche 10k trunk money is ALL the current discount. a few dealers might lose 5 to gain allocation. that's it right now. 438-35-5=398

 

I thought the price was $448K

Then 448-35-5=408

408-398=10

10+5=15=suggested dealer loss?

 

In Europe, there are quite a few CGT for sale. www.autoscout24.de has 20-30 of them listed. Prices were a bit crazy until a few weeks ago. Now they're getting much more reasonnable... But for Europeans, it's still much cheaper - huh... less expensive - to import one from the US!...

Greetings,
--Pierre

 

Didn't Porsche cut Production in Europe as well, when they reduced the supply by 250 a few months ago! Therefore demand can't be that hot!

 

there were two brand new ones sold at the local dealers. One at braman porsche, one at champion porsche by me for 450K.

-jon