TB993tt:
Wonderbar:
I think the situation is quite complicated. Covid caused weak demand, which then affected production, Then the sinking of the Felicity Ann, and now the war in Ukraine, all raise costs because of low supply and pent up demand. And certainly, to some people, rising costs have no effect. The inflated costs mean nothing. But, as supply increases demand will be satisfied, and the prices will drop. At that point depreciation will hit hard. Buyers who pay 225,000 for a GT3 will take a huge loss as new GT3s come on the market at MSRP or lower.
I will admit that the situation benefited me. Back in September my dealer offered me $15,000 to buy me out of my lease. I took him up on it and placed an order for a new GTS. I have to wait until August, but the money and savings are worth it. And my dealer will get me the new car at MSRP, or slightly less.
It makes me wonder what sort of buyer would pay these £230-250K prices I think you would only pay this if you truly believed that the 992GT3 because of the heavily restricted supply will forever be a limited collector car, the 991GT2RS seems to have gained that mantle in the UK, they come on the market for £360K+ mostly driven very little and they do seem to change hands at these prices.....real shame for people who would like to actually enjoy the driving experience
Its a curious thing. We in NZ get a large volume per head of capita and income per capita. So far in equivalent terms we have around 350 delivered (i.e. 30 units arrived) with around 280 (i.e. 24) more allocated to arrive for the remainder of this year. So almost 600 units UK equivalent. Frankly speaking anyone can walk into a dealership here and order a GT3 at retail. They may be waiting a year for it but eventually it will arrive!
Now the interesting part. We pay around 24% more than UK at retail price for our GT3. There are no tarrifs and only a small extra to be paid for freight. Obviously the network is smaller so the pre and post sales infastructure costs have to be amortised but Im guessing thats only accounts for 6-7% of the premium. So someone in the business model is making extra margin. Likely both PAG and the local privately owned distributor!
This would bear some credence to the arguement that UK scarcity is due to the margins in that market for the size of the market. However the net effect is that people are paying 20-30% very list price on the secondary market for a new car so status quo compared to other markets.
Infact Porsche are giving away margin in the UK to secondary sales channels. If they increased the volume by 30% and increased the price by 20% they would likely sell more cars AND make more profit.
Why dont they just do this now UK is not part of EU? Would those UK buyers complaining of missing out on allocations be OK with paying 20% more at retail if they were assured of a slot? I think so as it all becomes relative and the market value just realigns itself on these cars in the secondary market.
If the price of a base model 992 GT3 became 165k GBP but Porsche imported 1000 units to the UK then the market price would probably start reflecting the original purchase price minus depreciation rather than "plus speculation"....
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2021 992 GT3, 2017 Alfa Romeo Giulia QV, 2017 Macan S (Petrol)