Les Quam

There is a discussion on another forum on the CGT section and a senior member claims he has had two chances to buy if I understood him correctly a brand new 2004 CGT at 390K. He goes on to say he has been offered a 2005 CGT at 410K.

Has anyone else had this experience? If so please let me know which dealers are willing to lose that kind of money on a CGT because I am a cash buyer for one at that price. Makes me wonder if perhaps someone is just trying to deflate the CGT market to pick one up later.

I wouldn't understand how to call a dealer and say " I will buy your 04 CGT only after you lose 36K with a straight face" Since when have Porsche dealers fallen on such hard times they are willing to lose 36K on one car??? And I know of no factory incentives from Germany?

I need help from you master car buyers on this one?

PogueMoHone

This is an interesting and tangled question and depends upon the facts and circumstances.

If the original Purchaser put up a $50K non-refunable deposit, and is prepared to lose it then there is $25+$50k profit in the car. The $25K is the purported profit, but I have had dealers tell me the real profit is $30K..so who knows what the real number is..I suspect it's even higher and given all the cancellations on this car world wide Porsche is maybe sweetening the pot.

The huge shift ( increase in allocations of 05 cars) because of European cancellations and 06 EPA considerations are leaving too many cars around at the moment. It is only going to get worse over the coming months (IMO) and then in 06/07 we'll start to see thevalues rise again..because the real production numbers will be known.

Porsche marketing really screwed this one up, but all the decisions were taken in a vibrant (inflated) economy.

That's my $.02!

Moogle

quite frankly, at this price point, i could care less about depreciation/etc. the CGT is the ultimate porsche, no questions asked, i would pay whatever was required to get one, luckily for me the market (or mabye its because of the porsche brand ) isn't commanding premiums/etc.

interested in getting a new one, but i want one from the last year of production and hopefully from the very end of the run.

is 05 going to be the last year (due to the laws) or are a few going to slip into 06, im talking USA allocations

Les Quam

Colm,
As usual you are correct. If a Porsche dealer has retained a deposit they could sell an 04 CGT at 390K and still make a profit. I am in the process of making some calls and trying to find one at that price.

Does anyone know of a method where cancelled orders might show up on a Porsche computer to narrow my search?

Tom,
After finally getting a ride in a CGT it may the ultimate supercar on the planet all things considered even when compared to all the others.

ben in lj

the zonda roadster is probably the only real competitor and we really haven't seen any track tests of it. the enzo has stripped out interior, f1 shifting, and a hard top. not only that, the price is absolutely stupid on the secondary market which is the only way to get one.

DMin

I agree, Ben. Even if I had an extra $1.3 million, I wouldn't get an Enzo. I'd probably get his/hers C-GT's instead and then pocket the rest.

Nick

I believe the deposits were sent to Porsche. The dealer profit is 25K plus increased allocations of better selling Porsche's. I suppose a dealer could reduce or eliminate his profit margin on the CGT in order to get additional high margin vehicle allocations.

The CGT is a great car. But it will never see MSRP prices again. Porsche literally sank this car. It is radioactive in the supercar car market.

Les Quam

If a dealer got a 50K deposit from a customer and sent it to Germany as required.
Then owed Porsche another 375K on the CGT when it came in using a 425K dealer cost on the car as a baseline.
If the dealer got 390K from a second customer after keeping the first customers 50K deposit I think the dealer makes 15K on the deal selling it for 390K ?????
390K from customer #2 and 50K from customer #1=440K and their dealer cost is 425K. I hate math!

Anyway I made several calls today and none of the dealers I spoke to seemed remotely interested in selling their new CGT for 390K.

ben in lj

there is also a dealer holdback which i believe is in the $10k neighborhood so true dealer cost is in the $413k ballpark. if a dealer keeps the $50k deposit, he's in the car pretty cheap.

Nick

Your assuming the dealer does not refund the 50K to the first customer. I believe most dealers have refunded the deposits when customers have cancelled. I only know of one dealer in Wichata, Kansas who has refused to refund. One can only imagine what their service is like.

1958 Convertible D

Les -

You may want to call 414-290-1400 and see what is the rock bottom price on their black CGT. It's been listed on E-bay for months. A buddy in Milwaukee checked it out for me and said it's one of the nicest cars he's ever laid eyes on.

Keep posting your responses. I'm curious to see what if anything Porsche does about the CGT situation. How many people are going to put down a deposit with them again, after having to walk away, for whatever reason, from $50K? And how many of the loyal customers are going to tie up a deposit for years, only to see others come in and buy the car for below MSRP?

Not a model that's going to work for long.

Les Quam

I spoke to Jerry at Concours motors today in Milwaukee he was a very nice guy and said rock bottom was 426K but thanks for asking.

I didn't feel any love but we both got a couple of big laughs out of the conversation. Jerry said he has plenty of offers for the car at 390K.

I really like that car in black. Its bad to the bone in black probably faster than silver also. LOL

Bob Rouleau

Guys, I had lunch today with a Porsche employee. he told me that Porsche has upped the build run to 2,000 units and that he now has two more CGT to sell. I haven't heard anything about an increased production run. Has anyone else heard something similar? Another dealer in Montreal has a brand new car sitting in his showroom offered well below list.

Rgds,

Viken

That's a little unlikely. I heard that the worldwide production run is staying at 1500, but production might end at the end of 2005. As usual, with Porsche no one really knows what the ultimate outcome will be until the end is here.

Viken

Really? I thought the $50k went to PCNA and was NOT refundable. I didn't even think it was up to the dealer. In fact, didn't Ben try to get his deposit back and couldn't?