Porsche’s official website, carrying an article from the Porsche Klassik magazine, has branded some buyers as ‘immoral’.
In the statement, Porsche targeted those who buy its cars purely as an investment rather than as pleasurable transport.
Image shows a “flat nose” 911 which sold for nearly £250,000 last year at Silverstone Auctions
Some manufacturers, including Porsche, have made heady profits by selling short-run specials that are sold out before they even come on official sale. But companies like Aston Martin and even Ford has started to take steps to stop people buying then selling cars to make an instant profit.
Ford’s new GT, for example, has a two-year no-resale stipulation and Ford has taken legal action against those trying to get round this stipulation. And now Porsche is starting to complain that prices of used cars are getting out of hand, adding that it thinks investors are spoiling the market since prices are exploding across the range, even for more average examples.
Porsche Klassik says: “This demand has sent prices skyrocketing and left an increasing number of old Porsche vehicles sequestered in garages, rarely or never seeing the light of day because they were bought purely as investments,” the article states.
“The speculation in which many dealers are currently indulging is heading towards the downright immoral.” An example of the prices starting to bother Porsche is the £245,250 achieved last year for a 1989 ‘flat nose’ 911 Turbo SE, which is just a special version of an otherwise fairly normal model.
A year before that a 993-generation 911 GT2, a 1995 model, sold at auction for £1.8m. These sort of prices tend to drag up even the most average of cars. Exactly what Porsche intends to do about this situation has yet to be realized, but it’s notable that this attack comes from an official outlet, using really quite strong language to mark its concern.