ADMs dropping
03-11-2023, 07:04 AM
#526
I called a Florida Porsche dealer 120 miles from here to ask about getting in line for an allocation to order a Turbo S, and they told me Porsche had just ordered them to stop selling new Porsches to customers outside the local zip codes there.
Not sure if that included the more plentiful SUVs and Sedans.
I've had 12 Porsches since my first, a 1970 Signal Orange 914 I ordered for my 25th birthday.
Most of my Porsches over the years were new ones, but dealers and PCNA treat me like a newbie Porsche owner, probably because I had to move around for my career in a very cyclical industry segment. I worked in 7 different locations over my career.
Not sure if that included the more plentiful SUVs and Sedans.
I've had 12 Porsches since my first, a 1970 Signal Orange 914 I ordered for my 25th birthday.
Most of my Porsches over the years were new ones, but dealers and PCNA treat me like a newbie Porsche owner, probably because I had to move around for my career in a very cyclical industry segment. I worked in 7 different locations over my career.
Might also be a reference to how Porsche distributes pool car allocations. I've heard from several SA's that they look favorably on dealers with long waiting lists and PCNA may want to cull non-locals from those lists (effectively someone on dozens of dealers' wait lists trying for just one allocation) to determine who will actually end up doing business with a specific dealer.
03-11-2023, 11:32 AM
#527
03-11-2023, 11:35 AM
#528
Who knows what PCNA directives actually say and if they would be legally enforceable on the franchisees, but I'll happily bet this would only apply to 911/Boxster/Cayman and that there are no restrictions on location of buyers of Cayenne/Macan. Down here in South Florida there are less than 10 new sports cars listed as available, while there are at least 400 Cayenne/Macan on dealer lots.
Might also be a reference to how Porsche distributes pool car allocations. I've heard from several SA's that they look favorably on dealers with long waiting lists and PCNA may want to cull non-locals from those lists (effectively someone on dozens of dealers' wait lists trying for just one allocation) to determine who will actually end up doing business with a specific dealer.
Might also be a reference to how Porsche distributes pool car allocations. I've heard from several SA's that they look favorably on dealers with long waiting lists and PCNA may want to cull non-locals from those lists (effectively someone on dozens of dealers' wait lists trying for just one allocation) to determine who will actually end up doing business with a specific dealer.
03-11-2023, 06:21 PM
#529
Advanced
Here in Northern California, the event of SVB will have an effect on ADM for sure (VC people, tech, finance, investors, etc).
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nyca (03-11-2023)
03-11-2023, 06:28 PM
#530
Drifting
Indeed, I am reading so many stories now out of California that many smaller/medium companies aren't going to be able to make payroll in the near term. And what happened to SVB, many other banks are structured the same way.
03-11-2023, 06:41 PM
#531
Banned
This is what I was told by the GM of an out of market dealership I contacted. He was very friendly and straight forward, and had no reason to make this up. He explained to me that if he sells a sports car to me out of market, credit for that sale would be distributed amongst my in market dealers. These sale numbers are what are used to determine future dealership allocations for sports cars. He did say he can sell Macans, Cayennes, Panamera and Taycans out of market.
03-11-2023, 06:50 PM
#532
RL Community Team
Rennlist Member
Rennlist Member
In the short term there will be some pain, as some tech companies won't be able to pay their vendors or make payroll, but more likely than not (actually it's almost a guarantee) that some Big Bank will acquire SVB out of receivership and after a few hiccups, everything will be back to normal and those SVB customers will be made whole and SVB will just be another blip in the history of SV tech boom and bust cycle.
Last edited by ipse dixit; 03-11-2023 at 06:51 PM.
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mikey94025 (03-11-2023)
03-11-2023, 08:51 PM
#533
Drifting
SVB's collapse will have little, if any effect, on the car market in SV or anywhere else, really.
In the short term there will be some pain, as some tech companies won't be able to pay their vendors or make payroll, but more likely than not (actually it's almost a guarantee) that some Big Bank will acquire SVB out of receivership and after a few hiccups, everything will be back to normal and those SVB customers will be made whole and SVB will just be another blip in the history of SV tech boom and bust cycle.
In the short term there will be some pain, as some tech companies won't be able to pay their vendors or make payroll, but more likely than not (actually it's almost a guarantee) that some Big Bank will acquire SVB out of receivership and after a few hiccups, everything will be back to normal and those SVB customers will be made whole and SVB will just be another blip in the history of SV tech boom and bust cycle.
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03-11-2023, 09:11 PM
#534
Don't be so sure. That may work once, but many banks are in the same boat - same issue, they hold longer term bonds with very low rates, their depositors want higher market rates now and are withdrawing funds to get them elsewhere. When it comes time to sell their low rate bonds to raise the cash to meet redemptions, they can't get anywhere near par for them - and that's it, they are insolvent. It just takes one match to light the fuse.
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03-11-2023, 09:48 PM
#535
This. There are three other regional banks at risk of failure right now. This is all over the news, the big risk is that as people start hearing rumors that certain banks may fail they will pull their money and move it elsewhere and these banks then have to sell these bonds they are holding at a big loss leading to insolvency.
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cal10882 (03-12-2023)
03-12-2023, 12:51 PM
#536
Drifting
I am reading now that California vineyards operating capital is affected by this. There are going to be ADMs on wine now!
03-14-2023, 10:30 PM
#539
Pro
Got a call from my SA today with a C2S Coupe allocation (confirmed V200 for a May build and estimated delivery in July) with a $10k ADM. Dropped to $7,500 after some negotiation. Houston area.
03-14-2023, 11:29 PM
#540
