Porsche Sales Up

This is from the Wall Street Journal. Porsche is in a strong sales run up. It may be that this is an indicator of an upcoming uptick in the used 911 demand. I don’t know if this will be considered front running the market, but I think it is time for me to get the Carrera. It may not be an absolute market bottom, but I think close enough.

By CHRISTOPH RAUWALD
FRANKFURT—Porsche Automobil Holding SE's sports-car unit, known as Porsche AG, said Wednesday that operating profit in the first three months of its fiscal year jumped sharply on a steep rise in sales, marking the latest sign of a speedy recovery in demand for luxury cars.

 

I think the biggest increase is in Cayenne sales, however. Panamera is moving too.

 

We are selling a ton of new cayenne and panameras Our store is up 30% over a year ago. Last year we were down 6% from 2007 levels. So we have not felt the recession as some have. We are fortunate. Connecticut I also think has ridden this recession better than many states.

 

Cayennes orders are clearly exceeding expectations. Most dealers have no build allocation slots until spring 2011. Porsche learnt their lesson from the 911 inventory debacle in '09. Tons of left over 997s nationwide. Porsche lost quite a bit of money as they gave away trunk money to all the dealers to dispose their existing inventory. 911s went for 15 to 20 % off MSRP. As a frist time buyer, I got 17K off in the PNW which traditionally won't budge > 3% even for their repeat customers. Other areas (Texas, Florida and California, many got 20K off...virtually unheard of in the history of Porsche.

They tightened inventory so much now that even trying to test drive a Cayenne one has to wait in the lounge as there is a queue. The three dealers in the Spokane, Seattle and Portland have very few 2011 Cayennes on the lot available for purchase even if you have outright cash in hand. The Panas are also a big success.

 

My cayenne allocation is very tight. I have 1 available 6cyl and one S available and that is it. Panamera is tight too. The discounts on 911 where mainly on PDK 09 inventory that were launch cars built incorrectly (no sport chrono). The 2010 models they didn't seem to build a ton of and with the upcoming 998 car I presume 2011 will be light.

 

Ricster, + 1 for your comments. PDK launch cars with the not so desirable bucket seats and without sports chrono (??? What were they thinking) went for 20 to 25k off. But even correctly optioned cars ie. Nav, Bose, XM, sports chrono etc (like mine) went for 15k less than MSRP.

 

Yes they did. 2009 was a bad year for 911 sales in general. This year has improved but mostly for turbo and gt3 sales at my store. Carrera s models do ok, and base carrera's are boat anchors no one wants them. Panamera sales have taken the guy who can't have a 911 because the wife thinks it's not practical or because he thinks he is being frivolous in these economic times, but can justify to himself or wife the a panamera is practical with retaining Porsche driving characteristics for himself. That's my 2 cents on it.

 

I cant imagine driving the Panamera - I live in an area where poeple are buying them like crazy....IF I had $100+k to blow on a car, that you NOT be on my list, but then again.... the people buying them dont just have $100k to blow do they....so I suppose if you have the means, and a GT3 and a 73' RS in the garage, why not........

 

The guy buying it has many many cars, but we find the early adopters were guys with turbo 911's who had the s class or 750 I in the garage. They want one dealer and love the Porsche experience.

 

since 80% of later turbo's are automatics... that makes sense

 

When we were shopping for a family sedan, I just could not pull the trigger on the Panamera even though it had the best interior in class and the driving dynamics was purely amazing. The Burmester audio system (only other car to have it is the Bugatti Veyron which is what millions of $$) that came with the Panamera (and now the Cayenne) is pure art to the ears. The awkward styling of its rear end was the excuse (and pretty legit one too) I used to get into a 997.2 and my family bought into it. I tricked them well and now have remorse since we are out of a "family car".

 

Ricster, i know of a guy with a custom order on a Cayenne S searching for a dealer in with a allocation your neck of the woods. Can u PM your contact details. Thanks

 

Hi Woot, I pm'd you. Ivangene it's funny you say turbo cars are 80% of the sales, I will actually correct you on that, cars sold in major metro areas yes, we sell 1% PDK cars and we have done 2 total turbo s cars which is the only way to get them. But for our store it's 6 speeds. Thank a god too.

 

thats great to hear...who knows one day I might want a newer car and if most are 6 speeds I will have some choices