Adm!!??
Nordschleife Master
Joined: Jun 2018
Posts: 5,985
Likes: 7,925
From: Ohio
If you believe inflation is real, and not giving up in the next 1-2 years, then why would high line car values plummet?
China is creating the next moment with its lockdowns currently. From day one they’ve pushed the narrative that it came from a seafood wet market, then CIA, packaging for chicken from Brazil, and now they’ve banned the largest Ecuadorian shrimp producer for five months because supposedly they found Covid on the master carton. Their current lockdowns are going to cause another logjam at the ports, and a supply shortage.
The producer’s price index is at 11.2%, that’s going to be passed on down to the consumer eventually.
China is creating the next moment with its lockdowns currently. From day one they’ve pushed the narrative that it came from a seafood wet market, then CIA, packaging for chicken from Brazil, and now they’ve banned the largest Ecuadorian shrimp producer for five months because supposedly they found Covid on the master carton. Their current lockdowns are going to cause another logjam at the ports, and a supply shortage.
The producer’s price index is at 11.2%, that’s going to be passed on down to the consumer eventually.
Rennlist Member
Joined: Jun 2017
Posts: 146
Likes: 51
From: Florida
This chip shortage is a scam. One year, two years, now four years. I'm not buying it anymore. The automakers like the market just the way it is - zero inventory chain, sales over MSRP, record profits, and they can concentrate on transitioning their production base away from ICE towards subsidized EVs. So the chip shortage will never end. People are paying $15K over for Ford Broncos, and everything else out there too. Hopefully a cleansing economic recession will occur shortly.
Rennlist Member
Joined: May 2021
Posts: 8,712
Likes: 7,398
From: Southern California and Nevada
My local dealership delivered/sold 22 cars last month. All preordered, definitely confusing on what’s really happening. I’d be interested on seeing what Porsche is trending for sales in Q4 2022 and Q1 2023. I’m on an allocation list for a Cayenne GTS, apparently at the end of this year.
Burning Brakes
Joined: Jan 2019
Posts: 823
Likes: 586
From: Ottawa
Only hope would be Porsche instituting price controls on their dealers for new cars (not much they can do about used ones). Evidently, Porsche doesn't have the will to do that. The dealers have a hard enough time getting zero cars - instituting price controls would probably trigger a revolt.
Instructor
Joined: Jun 2021
Posts: 111
Likes: 91
Agree - If people are “paying too much” then the market will eventually correct that mistake. In that event, those who are patient will benefit.
Of course, in some situations like air cooled Porsches, I don’t think the market is going to ever go back to where it was before. In which case, people aren’t paying too much - they are simply paying market value.
Paying a modest ADM on a GT Porsche is not necessarily stupid money - after initial depreciation those cars may very well appreciate over time. At the very least, the money lost is well worth the enjoyment the car provides.
Of course, in some situations like air cooled Porsches, I don’t think the market is going to ever go back to where it was before. In which case, people aren’t paying too much - they are simply paying market value.
Paying a modest ADM on a GT Porsche is not necessarily stupid money - after initial depreciation those cars may very well appreciate over time. At the very least, the money lost is well worth the enjoyment the car provides.
Drifting
Joined: Jun 2021
Posts: 2,077
Likes: 1,760
From: Westchester NY
That remains to be seen. I think that some of these "highly offensive" ADMs in the range of 5-6% of MSRP may turn out to be less than the increase in MSPR from 22 to 23.
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Pro
Joined: Jun 2017
Posts: 720
Likes: 436
From: Los Angeles
well, a friend of mine just said he was offered an in stock GTS (florida) today at $40K over. i asked my dealer, who i have a great relationship with, what market is here in LA and he said the last two they sold were $25K over, but there is no allocation in the country before august/september. offer $30k and enjoy the car.
Rennlist Member
Joined: Jul 2018
Posts: 364
Likes: 150
For what it's worth. I'm not seeing much inventory movement in the used 911 market in my state. Almost all the dealerships are asking outrageous over MSRP prices for 992s. These cars used to move, fast. Like one weekend fast. Something changed in the last month, these cars aren't moving. Used inventories are starting to increase. Seeing some price reductions. I suspect rising interest rates have put a cold wet blanket on the outrageous demand.
Last edited by michaelp; Apr 14, 2022 at 08:21 PM.
Rennlist Member
Joined: May 2021
Posts: 8,712
Likes: 7,398
From: Southern California and Nevada
For what it's worth. I'm not seeing much inventory movement in the used 911 market in state. Almost all the dealerships are asking outrageous over MSRP prices for 992s. These cars used to move, fast. Like one weekend fast. Something changed in the last month, these cars aren't moving. Used inventories are starting to increase. Seeing some price reductions. I suspect rising interest rates have put a cold wet blanket on the outrageous demand.
Three Wheelin'
Joined: Jul 2017
Posts: 1,869
Likes: 1,145
From: Mid-Atlantic
For what it's worth. I'm not seeing much inventory movement in the used 911 market in state. Almost all the dealerships are asking outrageous over MSRP prices for 992s. These cars used to move, fast. Like one weekend fast. Something changed in the last month, these cars aren't moving. Used inventories are starting to increase. Seeing some price reductions. I suspect rising interest rates have put a cold wet blanket on the outrageous demand.
If it goes quickly that will answer quite a few questions.
Three Wheelin'
Joined: Dec 2021
Posts: 1,268
Likes: 1,026
For what it's worth. I'm not seeing much inventory movement in the used 911 market in state. Almost all the dealerships are asking outrageous over MSRP prices for 992s. These cars used to move, fast. Like one weekend fast. Something changed in the last month, these cars aren't moving. Used inventories are starting to increase. Seeing some price reductions. I suspect rising interest rates have put a cold wet blanket on the outrageous demand.
Nordschleife Master
Joined: Jun 2018
Posts: 5,985
Likes: 7,925
From: Ohio
For what it's worth. I'm not seeing much inventory movement in the used 911 market in my state. Almost all the dealerships are asking outrageous over MSRP prices for 992s. These cars used to move, fast. Like one weekend fast. Something changed in the last month, these cars aren't moving. Used inventories are starting to increase. Seeing some price reductions. I suspect rising interest rates have put a cold wet blanket on the outrageous demand.
Rennlist Member
Joined: May 2021
Posts: 8,712
Likes: 7,398
From: Southern California and Nevada
Possibly. Or it's just flat out greed. Just saw that my local dealer had a 992 CS in stock, asking $180k. Decent spec but original MSRP less than $140k. I know they haven't had it long, and the car has less than 1k miles on it... but holy **** that's the worst gouging I've seen for just a "regular ***" S.
If it goes quickly that will answer quite a few questions.
If it goes quickly that will answer quite a few questions.