Manifold

Number of 911 GT cars for sale has increased since a few weeks ago, and prices are continuing to come down. I think the price decreases may accelerate, since dealers will be pressured to unload cars before prices drop further; unlike private owners, dealers can't afford to be losing money on cars.

shrimp money

Since I was younger, the sales guy always says, "I'm losing money on this deal."

Manifold

Dealers bought a lot of used cars over MSRP, expecting to sell them for a profit. If prices drop, they can actually lose money on those cars. It's an unusual market.

WCGhost

I have seen a slight increase in listings, but there have been a handful of auto generated postings of 2023 models, that are likely a fresh batch of sold customer cars that get listed. The lowest listed 992 GT3 was $249K and it only lasted about a week at that reduced price, looks like it was sold, this was $55K over with 5K+ miles on it. McKenna sold a PDK Touring last week, they dropped the price to $270K (from $294K) and it sold within 48 hours, not sure on the sold price, I would guess $260k-$270k ($60K-$70K over), which is what the touring PDKs go for. Porsche DTLA looks like they sold their cheaper 992 wing, it was listed at $270K. Also in the last 2 weeks, touring 6-speed on PCar sold $288K, Wing 6 speed PTS on BAT sold $85K over, Another non PTS touring 6-speed on BAT sold for $300K / $105K over as well. So it looks like there is very little movement on touring 6-speeds. The interesting thing is seeing dealers, like Porsche DTLA for example, take on multiple 992 GT3 cars at likely significantly different prices, the one they got in more recently was sold quicker, but a few dealers are stuck with cars they paid way over on, it seems like this may be a reason they are hesitant to buy any more, until their higher cost examples are sold. Overall I do not see a consistent drop month over month, it almost feels as though the small drops we have seen could be a typical winter/seasonal drop. However, there could a domino effect in pricing adjustments once some dealers decide to move on from cars they paid a lot for, and once they are willing to realize the loss.

Manifold

I do expect something like a domino effect, with accelerating price decreases, with this process playing out over the course of at least several months. One factor is that, over time, there should be less "gotta have it, even at a high price" buyers, and more "I can wait until prices drop" buyers. I expect that I'll eventually get an allocation for one of these GT cars at MSRP, so I have no interest in paying well over MSRP for a used car that isn't built to my preference and has some of the warranty period used up.

shrimp money

I drive around a lot for a living, and for the last 8-10 months, I’ve noticed most Toyota dealers not load up on used cars, but the GM family of dealers, have almost all loaded up on used cars. It’s an interesting bet, and looks like it’s going to pay off for those Toyota dealers.

AlexCeres

you assume when the tide goes out, everyone is on average in a similar circumstance. This is not true. A major recession still leaves a lot of folks invested in the market with more money than they had just 4 years ago. People have been making more money faster than Porsche has been making more cars. Demand >> supply.

are prices coming down ? Absolutely. Are you getting a hot in demand new car at msrp ? Nope, no you are not. Lambo is sold out 2 years. Ferrari is coy but likely similar. McLaren about a year. And the guys who want a 992 TTS allocation ? Yeah, not everyone who wants one is getting one before production ends. We haven’t even gotten to the GT products.

A lot of people won’t have chairs when the 992.1 music stops. A modest recession isn’t going to help you enough to matter.

maroli

Touring pricing holding up better than winged cars for sure. What's unusual is that was very much known in the aftermath of 991.2 GT3 production so you'd think it'd balance out and people would just order more tourings this time since they know it holds value better...but it continues to be true that Tourings command a premium for the 992.

WenigerAberBeser

specific allocations were given for the touring and winged gt3s for 992, unlike for the 991.2 all allocations were the same and touring was an optional package.

in my own view, I’m sure there are a good number of buyers that prefer the touring only because it’s resale is usually higher than winged, it’s kind of a self manifestation…

usctrojanGT3

Plus only 1 of 3 GT3 are Tourings so there are less of them as compared to the winged version.

WenigerAberBeser

true which is same ratio as 991.2 when anyone could option it

usctrojanGT3

It was surprising that only 1 in 3 991.2 GT3s were optioned with the Touring package given the demand.

WenigerAberBeser

I guess people didn’t expect resale to be 15%+ more than winged

usctrojanGT3

True but there were a lot of pissed off people who wanted the 911R but were shut out so I still would have thought the Touring package take rate would have been closer to 50/50. I guess since Porsche saw that it was 1 in 3 for the 991.2 GT3, the allocations are 1 in 3 for the 992 GT3.

Larryh1

Yes I agree however I wanted a 2018 touring and got it at sticker my SA told me I was making a mistake they talked everyone else out of a GT3touring on the 991.2 ..... crazy . My 992.1 GT3 TOURING
came in today .. I hope to pick it up this week if the car is not missing anything ....ie if there is no hold on the car from PORSCHE....