CEO Oliver Blume puts forward potential solution to having limited edition models sold on at vast profits
Jim Holder
22 March 2019

Porsche CEO Oliver Blume has proposed a subscription model as a potential solution to speculators buying the firm’s limited edition cars to sell on at huge profits.

Although the problem of investors making huge mark-ups is industry-wide, Porsche’s volume of highly collectable, very limited run models, ranging from the Boxster Spyder through to Porsche 911 GT and R models and the 918 Spyder, has regularly put it in the spotlight.

In particular, the 911 R hit the headlines in 2016 when collectors were reported to be spending around five times its asking price just months after its launch in order to jump waiting lists.

“Our interest is to sell cars for drivers, not dealers,” said Blume. “We put so much love into them, with the goal of people driving them not to put them in a garage.

“One thing we could do is look at leasing models to try to avoid this kind of dealing, so the car doesn’t get sold on for a period of time. It is one solution.”

First refusal on limited run cars are usually dictated by retailers and given to regular customers, but this has failed to stop speculators selling on, while some car dealers are also believed to be on the preferential lists, albeit with the express intention of selling the cars on.

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Comments
10

22 March 2019

...make more of the models people want. Caymen NA 6 anyone? 

typos1 - Just can’t respect opinion

22 March 2019
Yes. Much better idea.

22 March 2019

Agree 100%

22 March 2019

Does not explain why most dealers in Canada have several GT4’s and GT3RS’s for sale an well over list price, their plan for gouging customers has obviously not worked.Recently visited Mercedes Benz Vancouver and half the showroom was AMG-GT models deeply discounted, so no one is buying these either.Sadly both lots outside were full of SUV’s

Madmac

22 March 2019

Same here madmac, no GT3/GT3RS allocations available, go on the Porsche North America used vehicle search and there are more than 100  2018/19 GT3/GT3RS sat at dealers with nominal mileage all at inflated prices.

22 March 2019

As several others have said just build more - not flood the market, just enough to keep waiting lists and residuals manageable. But Blume is being disingenuous here. Even Porsche owned main dealers (i.e. not just franchises) always seem to have delivery mileage GT3s in stock for anybody prepared to pay 50% over list. As Porsche CEO Blume must surely be aware of this.

He might want to think back on what happened to Wendelin Wiedeking and Holger Harter if he thinks manipulating markets is a worthwhile game for Porsche to indulge in. 

23 March 2019

customers, its becoming more of a common thing with VAG, but Porsche have a long history of doing it, as people have said, stop making such limited numbers. 

pog

23 March 2019

I have been trying to buy a 911 GT3 for over a decade both in France and UK; Consistently ignored my requests; I think dealers prefer to sell standard 911 at full list price (i have owned 8, some from new) and look after speculators who will allow them to make more profit once car is back on forecourt; my car never sees the side entrances of Harrods or back streets of Knightsbridge ...just oxfordshire roads...We keep Porsche alive, silly us:) but god its true your cars are amazing !

pog

24 March 2019

We all know this is nothing to do with stopping speculation but rather designed to keep the benefits of it to swell porsche's coffers.

24 March 2019

Its a smybiotic relationship between the dealerships and the 'special customers'. Always has been. See many base Cayman or base Boxster sitting in showrooms with 'delivery miles' like you do GT3, GT3RS, GT2, no of course not, they don't appreciate, so the 'special customers' don't buy them. Porsche know the problem is at the dealerships, but have been unwilling to tackle it. And let's be honest, its only a PR problem, it's not hurting the bottom line, its not hurting their profitability?

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