docjackson1

just an observation of the c-gt market. cherry hill porsche (NJ) has a new one in the ny times for 410k (msrp 448k).

JS

I saw that last week, the market is softening up, there are plenty of 04s around, from what I hear used ones are around $360 bid.

docjackson1

jas-not good news for those who paid msrp, and just lost almost 100k-the moral of the story is, if it isn't a 360 or 430, you better not pay list, or worse yet, over list.

JS

I hear you, how about the people that paid a premium for the Turbos and GT2s, wasted money.

docjackson1

justin-i hear you-i saw a gt2 in 02 in bramman in w. palm beach that was selling for 80k over msrp-they had bought it for full msrp from a west coast dealership. until 03, turbos had a 1 year waiting list, at full msrp. when the c6 corvettes came out a few months ago, they were going for thousands over msrp. now, a few months later, they are discounted $3500 (kerbeck, nj). we can certainly learn-just wait a little bit, and have patience.

JS

The premium I find insane is the Ford GT, I see them advertised at $100k over, thats a joke.

brakedust

observation about pricing is correct. i just contracted to buy incoming car for $24k below msrp.

brakedust

I'm at $24k below sticker for an '05 delivering in late February, and there are others around. porsche did their customers and themselves a disservice by ramping up the pricing by over $100k during the development of this vehicle. while at the same time lowering the content of the car. they're now finding out they're not credible in this price stratum.

PogueMoHone

If the dealer is keeping (?) the $50K deposit that was on the car..they are still doing OK.

docjackson1

colm-from what i can gather from talking to dealers, it seems that they are returning the deposits-what has been your experience/information?

PogueMoHone

Just reading between the lines, it seems one well known poster had to take the car or lose the deposit.

I know different States have different rules about deposits. THis issue was apparently handled in different ways even within the same State.

I'm wondering what the Porsche PR policy will be, if the cancellations are accelerating.

brakedust

my impression is that they're giving back the deposits. they didn't even require that i give them one. my car was originally ordered by a fellow who had new speed bumps installed on his street, according to the dealer (not sure if i believe him). they need to be sensitiive to annoying their most quailified customers. i think we'll not see posrche trying to do something like this again.

ben in lj

yes, the dealer from whom i ordered mine was the only one i've thus far heard that refused to refund the deposit upon cancellation. they are a pissant little midwest dealer who was hell bound and determined to keep the deposit despite involvement of council, etc. they desperately needed the additional allocations that come from selling a CGT.

ben in lj

they don't give a crap.

Sloth

Those getting their deposits back likely had their deposits and contracts with the dealer, IOW the dealer bought the allocation from Porsche to resell. Those with their contracts made direct with PAG/PCNA are not getting their deposits back. I have a buddy that canceled on his CGT and he is not getting his deposit back till the dealership finds somebody else to take the car. And beleive me, this guy has bought plenty of cars from the dealership.

My $.02... the speculators killed the market for this car. Lets say PAG estimated demand for 1000 cars and makes the allocations available through the dealerships. The dealerships buy/sell 500 on speculation and the other 500 go to customers that really want the car. When PAG heard that customer demand for another 500 cars still existed, they decided to raise production up to 1500 cars. The problem is, the real demand was only for 1000 cars and now the market has to absorb the additional prodcution. The CGT is a lot of money for a dealership to have sitting on the showroom floor and I have heard of some selling at invoice just to get it out the door.

Its true that PAG raised the price on the CGT quite a bit during its developement cycle. I know some folks got onto the dealership list early when the MSRP was lower. However, MSRP was not an unknown when sales contracts were being made.