Firm's website and magazine carry article claims people who buy cars purely as investments are 'spoiling the market'

An article published on Porsche’s official website has hit out at people who buy the brand's vehicles purely for their investment potential, calling this “immoral”.

The article, which comes from the Porsche Klassik magazine, says investors buying machiners for profit rather than to drive are “spoiling the market” by “causing an explosion in prices even for ‘normal’ Porsche vehicles”.

“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.”

The prices of used Porsches have increased at record rates in recent years, headed by the rarest and most sought-after models, which is in turn dragging up the price of many used Porsche models.

Two years ago, a 993-generation 911 GT2 from 1995 sold in a London auction for £1.8 million, setting a new record for a Porsche road car. It’s also close to nine times the price of a new 911 GT2 RS. Last year, a ‘flat nose’ 1989 911 Turbo SE, a special version of an otherwise common model, went for £245,250.

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Similar price surges have been seen for Ferrari models. This was headed by the $38,115,000 (currently equivalent to about £28,285,150) sale of a 1962 250 GTO at auction in 2014.

Aston Martin CEO Andy Palmer has also hit out at buyers of car build slots who intend to sell them for profit, even before the car is built. He said that anyone reserving a Valkyrie hypercar doing this would lose their slot.

In a similar move, Ford implemented a 24-month no-resale period for buyers of its new GT, and has taken legal action against people who have tried to sell them earlier.

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Comments
18

18 May 2018

increase sodding production, and stop making so many "limited editions", you are responsible for the problem, and your dealers encourage it. 

289

19 May 2018

You are right city tiger that Porsche themselves feed the fire through their actions, so they have 'some neck' ranting in this way.

On the other hand, I would suggest that a 993 GT2 (in my view) is at least 9 times more disireable than any current Porsche model!

I too hate the way the investors have ruined the market....its the old story 'money makes money' and these people have  money by the lorryload to splash. Classic cars of any brand should be seen heard and driven, nor squirrelled away like some over blown bottle of wine.

Works of art - some may be, but they shouldnt be treated as such.

I remember a classic car dealer friend of mine sourcing a truly beautiful Daytona for some city hedge fund leach, who bought one because all his staff were snapping up Ferraris' with their grotesque bonus's. He knew nothing about cars....just did it because he thought he ought to cash in. He transferred the funds without viewing the car, never once saw or sat in the car in the 2 years that he owned it, and finally ordered disposal due to his lack of interest. I would like to report that he lost a fortune, but sadly the devil looks after his own!!!!

I would love to see all these investors catch an enormous cold and the market return to sensible level so that enthusiasts can enjoy these important vehicles....but sadly, although the market has flattened off a little, life isnt that fair, and the status quo will continue.

The only thought which sustains me is that these tossers (investors makes it sound respectable), who are crippling an enthusiast's hobby, are missing out on the joy of the vehicles....they are just too ignorant to realise it! 

31 May 2018

Now ask GM to severely limit the production of its Chevy Cruze ;-)

18 May 2018

Aston Martin to customers: We have never made a profit on selling cars, please stop setting a bad example to our marketing department. 

19 May 2018

History shows that when cars become investment vehicles (see what I did there) a recession is 12 -24 months away.

19 May 2018
Jon 1972 wrote:

History shows that when cars become investment vehicles (see what I did there) a recession is 12 -24 months away.

If that was the case, we would be in permanent recession. People have been squirrelling them away since the dawn of the automobile. 

19 May 2018
Jon 1972 wrote:

History shows that when cars become investment vehicles (see what I did there) a recession is 12 -24 months away.

Not sure we'll see a recession this time. Just a massive drop in the prices of old cars. It's already well underway.

19 May 2018

Porsche should irradiate corruption at their Official Center’s , that would hugely dissipate the problem .

20 May 2018
Interesting suggestion but why should Porsche expose all their dealers to Plutonium?? ;)

19 May 2018

Porsche Canada used website still has many GT4's and GT3/RS for sale, all from dealers,all at ridiculous markup, none have moved for years, so the dealers are complicent for sure, but no one is buying them! Also BMW dealer offering $30,000 off an M4GTS.Who is going to buy a 2016 GT3RS at more than a 2018 one? not many apparently,so this conflicts with your story somewhat.

Madmac

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Our Verdict

Porsche 911

Does Porsche's decision to introduce turbochargers across the 911 range damage its heritage? Or is the foundations of a new era for the supercar you can use everyday?

Find an Autocar car review

Driven this week