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GT car / Salesman - Shiraaz Sookralli - Champion Porsche's VP of Marketing

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GT car / Salesman - Shiraaz Sookralli - Champion Porsche's VP of Marketing

 
Old 10-01-2018, 09:54 AM
  #1741  
STG
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Originally Posted by usctrojanGT3
What about all those people who bought a GT car from him paying an ADM which went to him and Champion only got MSRP for the car...do those buyers deserve to get the ADM back from Champion since their employee scammed them out of an ADM?


Also, I wonder if this little incident will make dealerships think twice about using brokers to sell their ADM GT allocations?

That's a good question on point #1. After all they're victims too right? Fraudulently got charged by Shiraaz.

On point #2, I wondered why dealers would need brokers when they have cars that sell themselves?? Not like they have a problem finding buyers. So the ADM prices once again artificially pumped up three ways. A cut for the dealer, salesman, and broker. No wonder these flippers are starting to sweat. There's nothing left for them. Resale prices are nowhere as strong as the .1's. Everyone is in on the game now.

So back to my question why dealers use brokers?? That way they can sell their GT cars secretly out of state at an ADM, while telling their long time good local customers that they're not getting anymore cars in or got a lot less in than they really did. Guys who've been on MSRP lists for years, are getting bypassed for cars that are going through brokers. Nice huh?

What are these brokers gonna do for a job when the bubble bursts?? Sell anything in short supply? Maybe flipping the next Beanie Baby phenomenon on eBay?
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Old 10-01-2018, 11:03 AM
  #1742  
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Here's my prediction: If the demand for the GT cars stay strong all this will change absolutely nothing.
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Old 10-01-2018, 11:32 AM
  #1743  
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Originally Posted by shapiroeric View Post
Here's my prediction: If the demand for the GT cars stay strong all this will change absolutely nothing.
When the economy turns, as it eventually must, I expect that demand for these GT cars will drop and only those who can afford to comfortably buy them expecting depreciation will be buying them. No one "needs" a $150K+ sports car which is too fast for the road anyway, and only people who can really afford the cars track them with any regularity.
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Old 10-01-2018, 11:33 AM
  #1744  
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If resale prices soften as they have, it will shorten the time period...it is like watching a stock to make a score....
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Old 10-01-2018, 12:33 PM
  #1745  
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Originally Posted by DainLankfordLA View Post
Let me guess you buy gold as an investment. I've been hearing the 'market will turn' line for decades. Of course it will--no reason not to buy what you like today on fear of what you can't control in the future.

People buying $200K cars probably have the stomach to manage a economy turn better than someone buying a Chevy truck with 60 month car payments.
Bad guess. I have two Porsche GT cars, both heavily tracked, I expect them to depreciate. Not sure if you know this market, but a lot of Porsche GT car buyers in recent years having been buying them on the assumption/hope that they'll hardly depreciate, and they hardly drive them.
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Old 10-01-2018, 12:47 PM
  #1746  
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Well stated....you have to drive Porsches as they were designed...
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Old 10-01-2018, 01:01 PM
  #1747  
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Having followed this thread and the story from the beginning. I will add my personal experience with Champion Porsche. My 2018 991.2 GT3 was purchased at MSRP and also included European Delivery! After being told that an allocation was available to me, I offered to offset the dealer expense of Euro Delivery to my SA, to the Sales Manager and to Dave. I was was told: ok thanks, don't worry about it. I personally know of several GT cars that were also purchased from Champion that never involved Shiraaz. There are many very fine SA's that have worked at Champion for decades. Together with the sales manager the SA's have sold and delivered numerous GT cars without any Shiraaz involvement. The product knowledge and passion for Porsche of many of these guys is boundless. I'm very saddened they and the Maraj family are faced with the unfortunate actions of a criminal fraudster. I'm also heartened to learn that the victims will soon be reimbursed their financial losses. Sadly I was at Champion the afternoon of Dave's death. I was there to say thank you for having arranged the purchase of my GT3 and Euro Delivery. I'm still gutted that he is gone. Dave was a very classy man who earned the loyalty of his employees by treating them like family. The huge success of his Porsche dealership and his racing victories was not an accident. He and his family have sold tens of thousands of Porsches to many who have again and again returned to purchase more Porsches. They treat all with respect and earn loyalty through honest and fair dealings. To those who know not... yet pile on through the power of your anonymity via the keyboard, karma is real, stand down.
Don't be so quick to judge. Let the dust settle and see what is eventually proven in regard to this crime. The Maraj and Champion family of very fine employees are also victims, they have my respect and prayers that these dark hours will soon pass.

Last edited by turbo3six; 10-01-2018 at 01:37 PM.
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Old 10-01-2018, 01:04 PM
  #1748  
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This incident won't change the ADM behavior surrounding hard-to-get Porsche GT cars. The laws of supply and demand will still prevail. What I see changing is, having to deal with more than one individual when putting down a deposit for a car and obtaining a firm receipt/confirmation from the dealership in writing for the deposit and how it will be applied towards the car's purchase. SS found a loophole in the process and exploited it for his own ill-gotten, albeit likely short-term gain. That loophole will be closed and business will go on as usual...long live ADM!! "The King is dead, long live the King!" ADM will go on...
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Old 10-01-2018, 03:12 PM
  #1749  
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Originally Posted by STG View Post
This is interesting too:

"And despite taking and stealing those deposits, Sookralli never actually placed orders for any of the vehicles."

Shiraaz was skimming ADM deposits to the Autosports acct for cars that were indeed delivered in the past. They seem to be trying and to frame this like he just took these latest deposits for cars he never ordered which doesn't tell the whole story.

So Shiraaz was some angel and somehow went rogue overnight on his own and caught everyone by surprise?? Might work well for an insurance claim, but anyone with half a brain will look into the whole history there.


Anyway, fun to look through all the carefully chosen words here and read between the lines
I'm taking the majority of this reporting with a very large grain of salt. After all, we've seen that at least one person here has posted that they placed an order with SS and received a car. A lot of reporting these days is just regurgitating statement made by someone else without verifying if it was true. In most of these reports, the statements were made HERE. I'd seriously doubt the scam would have lasted as long as it did or gotten to that much money if he never delivered cars. The "skimming" of ADM's as you called it is my original thought on what he was doing and I have not changed that opinion. He was up to this for a long time, that's been proven.

I don't think that this is so much spin as just sloppy reporting.

RE your other post above, I agree, very curious wording of "victims, that's what we're calling them". Bizarre.
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Old 10-01-2018, 03:17 PM
  #1750  
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Originally Posted by Needsdecaf View Post
I'm taking the majority of this reporting with a very large grain of salt. After all, we've seen that at least one person here has posted that they placed an order with SS and received a car. A lot of reporting these days is just regurgitating statement made by someone else without verifying if it was true. In most of these reports, the statements were made HERE. I'd seriously doubt the scam would have lasted as long as it did or gotten to that much money if he never delivered cars. The "skimming" of ADM's as you called it is my original thought on what he was doing and I have not changed that opinion.
I agree, it was a Ponzi scheme and eventually got caught up. As much as people think it's a lot of money it's actually pennies to local investigators and FBI, especially if the money was wired out of the country. They'll get clues eventually but it's not on top of their list.
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Old 10-01-2018, 04:13 PM
  #1751  
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Originally Posted by DainLankfordLA View Post
Let me guess you buy gold as an investment. I've been hearing the 'market will turn' line for decades. Of course it will--no reason not to buy what you like today on fear of what you can't control in the future.

People buying $200K cars probably have the stomach to manage a economy turn better than someone buying a Chevy truck with 60 month car payments.
Not to hijack the thread but . . .

A.) The market turned pretty hard in 2008/2009 and people got crushed.
B.) People buying $200k cars arent always dealing from a flush balance sheet of cash. Many are highly leveraged.
C.) For the first time since the Dot-Com "bubble", the amount of household net worth from stocks, is higher than from real estate.
D.) The corporate repatriation game is largely over with. Thus, stock buybacks wont be as nearly as aggressive going forward.
E.) Many corporate share repurchase programs have been made via leverage.
F.) None of any of the above does well during a rising-rate environment.
G.) I agree that you should buy what you like.


Last edited by Diablo Dude; 10-01-2018 at 04:39 PM.
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Old 10-01-2018, 04:28 PM
  #1752  
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Old 10-01-2018, 05:36 PM
  #1753  
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Originally Posted by DainLankfordLA View Post
I live for today...if I constantly worried about what COULD happen, I'd live in a shack and drive a 10 year old Corolla.

Can't wait for my RS to arrive.
I'm guessing that you paid ADM? I paid MSRP for the GT3 and GT4.
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Old 10-01-2018, 05:37 PM
  #1754  
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Originally Posted by turbo3six View Post
The Maraj and Champion family of very fine employees are also victims, they have my respect and prayers that these dark hours will soon pass.
Right. I'm sure the employees feel bad about what's happened to its customers. They were at Rennsport Reunion and it was great talking to them (I did not mention the incident because they're probably tired of hearing about it).


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Old 10-01-2018, 06:02 PM
  #1755  
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Yep I fully agree. ADM will be here for as long as we live in a capitalist society. For as long as the desire to acquire new toys relevant to buying capability, it'll be like fungus that will never cease in its existence.

Drive safe,
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Originally Posted by Akunob View Post
This incident won't change the ADM behavior surrounding hard-to-get Porsche GT cars. The laws of supply and demand will still prevail. What I see changing is, having to deal with more than one individual when putting down a deposit for a car and obtaining a firm receipt/confirmation from the dealership in writing for the deposit and how it will be applied towards the car's purchase. SS found a loophole in the process and exploited it for his own ill-gotten, albeit likely short-term gain. That loophole will be closed and business will go on as usual...long live ADM!! "The King is dead, long live the King!" ADM will go on...
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