Lots of brand new Porsches immediately available

[CanAm]

KittyLitter said:

andymc said:

Taycan turbo owner here, £42 to do 200 miles at the weekend

Is that that great?

That's about the equivalent of 30mpg on petrol. Not sure if andymc is boasting or complaining.

[soxboy]

franki68 said:

Grantstown said:

Taycan not even in the top 10 of EV losses according to car wow.

https://m.youtube.com/watch?v=eGS34ENu4S4

You need to buy these things and use them properly for a few years to get the value out of them. Definitely not the car for the guy that likes to polish the car every week and drive to a restaurant once a month!

That’s a very distorted picture . It’s looking at 1 year old used examples compared to 2 years old used values .As an example a taycan turbo s loses so much value in its first year the following years percentage drops won’t appear so bad .

In that video he’s comparing how much change there has been on the trade-in value for 1-year old models between q1 2023 and q1 2024.

[JonPH]

They've either sold 400 of the backlog of 911s or removed them from sale.

[stuckmojo]

JonPH said:

They've either sold 400 of the backlog of 911s or removed them from sale.

My Macan Is at an OPC right now and they have Cara everywhere. I've never seen it so full. So, you might be right

[JonPH]

It's both impressive and worrying if they've removed them from sale across UK dealerships to avoid appearing to flood the market.

[franki68]

soxboy said:

In that video he’s comparing how much change there has been on the trade-in value for 1-year old models between q1 2023 and q1 2024.

That’s even more useless then as a measure .

[EvoSid]

Any discounts on Macan S or Cayene E Hybrids . Not looking for anything fancu just a run around for the wife

[Grantstown]

franki68 said:

soxboy said:

In that video he’s comparing how much change there has been on the trade-in value for 1-year old models between q1 2023 and q1 2024.

That’s even more useless then as a measure .

So you misinterpreted the video, but are still not happy with the measure! Maybe you’d prefer to go with ‘gut feeling’ or general forum opinion then?

[Chemical Ali]

JonPH said:

They've either sold 400 of the backlog of 911s or removed them from sale.

Removed from sale. Which keeps the values of our cars higher.

Unless you go to trade in, in which case porsche dealers don't want used porsches.

[PhilboSE]

EvoSid said:

Any discounts on Macan S or Cayene E Hybrids . Not looking for anything fancu just a run around for the wife

As I said earlier, I’ve got an email offering £10k off a “new stock” Porsche of seemingly any type. If I was in the market, I’d see that as a starting point.

[franki68]

Grantstown said:

So you misinterpreted the video, but are still not happy with the measure! Maybe you’d prefer to go with ‘gut feeling’ or general forum opinion then?

That doesn’t make the measure any more useful to me ,but thanks for your input ,it’s greatly appreciated .

[Sidsw]

Chemical Ali said:

Removed from sale. Which keeps the values of our cars higher.

Unless you go to trade in, in which case porsche dealers don't want used porsches.

yes, removed from sale on porsche website. still available on autotrader. somebody at porsche gb must be sticking pins in a little doll named tescor

[Youforreal.]

PistonHeads’s steering Porsche sales strategy….yea right….

Edited by Youforreal. on Tuesday 21st May 11:16

[Sidsw]

i'd say so. site went from showing total number of cars available, both new and used to just saying 100+ available.

then from showing number of new cars available for each model, went down to saying 100+ to 50+, to 25+ and now cars have disappeared completely of their site whilst still available, as this thread has progressed. that certainly is not coincidence.

they are still available as i was in opc on friday and whilst 2 cars are in showroom and shown on autotrader they are no longer on approved site.

taycans still getting hammered. apparently opc sold a new one last week at £30k+ loss to to them, just to get rid of it!

[Brighton Speed]

This shielding the amount of OPC Porsches available for sale is an interesting topic.

Yes, it would seem that by not advertising how many there are actually available on the Porsche website is simply a case of trying to prop up demand by (falsely) limiting the supply side (via not directly admitting how many are actually available).

Now this lack of sales is due to two factors: eye watering interest rates when it comes to financing the cars, but also a lack of cash in people's pockets due to massive cost of living price rises since the govt printed £400bn to deal with Covid then the war in Ukraine etc etc.

So what can dealers do about the ridiculous interest rates when it comes to their finance packages? Not a lot it seems. A couple of weeks ago I bought a nearly new MINI for the missus and, after laughing out loud at the senior sales manager's quoted 13.9% interest rate for HP, he told me there was nothing he could do, the rate had been 'given' to the dealership/group and that was that. That doesn't exactly sound like a free market, does it?

I then watched a Mark McCann vid on YT about the Financial Conduct Authority (FCA) launching a major investigation into hidden, unfair car finance commission pre 2021, and it seems the rules have now changed.

Apparently In about 40% of car finance deals, there were hidden 'discretionary commission arrangements'. This is where lenders allowed brokers & car dealers to up the interest to increase their commission – so people overpaid, without knowing.

For those interested there is more here:

https://www.youtube.com/watch?v=5NRn2MIjLJg

And here:

https://www.moneysavingexpert.com/reclaim/reclaim-...

So the car finance rates are now fixed on a dealer/group basis with no wiggle room for a deal. Which will only stifle competition. Add in smaller factors - like the £600pa road fund licence for a used ICE car which listed at anything over £42k when new, and which you'll pay for 5 years from the second time it's taxed - and it would almost appear there's now a co-ordinated attempt to hobble ICE sales...

Consequently is it any surprise that Porsche inventory has increased so quickly? Yes, some might argue that building your sales model on cheap money would one day come back to bite you, but when you've no wiggle room on interest rates, people are feeling poorer and the cost of motoring has never been so high (insurance premiums anyone?) what else can the marque do to try and protect itself?

Interesting times...

[Youforreal.]

Brighton Speed said:

This shielding the amount of OPC Porsches available for sale is an interesting topic.

Yes, it would seem that by not advertising how many there are actually available on the Porsche website is simply a case of trying to prop up demand by (falsely) limiting the supply side (via not directly admitting how many are actually available).

Now this lack of sales is due to two factors: eye watering interest rates when it comes to financing the cars, but also a lack of cash in people's pockets due to massive cost of living price rises since the govt printed £400bn to deal with Covid then the war in Ukraine etc etc.

So what can dealers do about the ridiculous interest rates when it comes to their finance packages? Not a lot it seems. A couple of weeks ago I bought a nearly new MINI for the missus and, after laughing out loud at the senior sales manager's quoted 13.9% interest rate for HP, he told me there was nothing he could do, the rate had been 'given' to the dealership/group and that was that. That doesn't exactly sound like a free market, does it?

I then watched a Mark McCann vid on YT about the Financial Conduct Authority (FCA) launching a major investigation into hidden, unfair car finance commission pre 2021, and it seems the rules have now changed.

Apparently In about 40% of car finance deals, there were hidden 'discretionary commission arrangements'. This is where lenders allowed brokers & car dealers to up the interest to increase their commission – so people overpaid, without knowing.

For those interested there is more here:

https://www.youtube.com/watch?v=5NRn2MIjLJg

And here:

https://www.moneysavingexpert.com/reclaim/reclaim-...

So the car finance rates are now fixed on a dealer/group basis with no wiggle room for a deal. Which will only stifle competition. Add in smaller factors - like the £600pa road fund licence for a used ICE car which listed at anything over £42k when new, and which you'll pay for 5 years from the second time it's taxed - and it would almost appear there's now a co-ordinated attempt to hobble ICE sales...

Consequently is it any surprise that Porsche inventory has increased so quickly? Yes, some might argue that building your sales model on cheap money would one day come back to bite you, but when you've no wiggle room on interest rates, people are feeling poorer and the cost of motoring has never been so high (insurance premiums anyone?) what else can the marque do to try and protect itself?

Interesting times...

So Porsche are getting finance at say 5, charging 11 and happy to sit on hundreds of cars unsold or they are getting finance at 11 and there’s nothing they can do therefore cars are piling up?

[wisbech]

Brighton Speed said:

So what can dealers do about the ridiculous interest rates when it comes to their finance packages? Not a lot it seems. A couple of weeks ago I bought a nearly new MINI for the missus and, after laughing out loud at the senior sales manager's quoted 13.9% interest rate for HP, he told me there was nothing he could do, the rate had been 'given' to the dealership/group and that was that. That doesn't exactly sound like a free market, does it?


Interesting times...

? Can't you just go to a bank for a loan at a bit less than that?

[guyvert1]

The trouble is these days, people seem to be happier bhing about god knows what rather than what its like actually owning/driving/enjoying all things Porsche.

[Brighton Speed]

wisbech said:

Brighton Speed said:

So what can dealers do about the ridiculous interest rates when it comes to their finance packages? Not a lot it seems. A couple of weeks ago I bought a nearly new MINI for the missus and, after laughing out loud at the senior sales manager's quoted 13.9% interest rate for HP, he told me there was nothing he could do, the rate had been 'given' to the dealership/group and that was that. That doesn't exactly sound like a free market, does it?


Interesting times...

? Can't you just go to a bank for a loan at a bit less than that?

Yup, but I didn't take the finance option in the end.

[GT4P]

guyvert1 said:

The trouble is these days, people seem to be happier bhing about god knows what rather than what its like actually owning/driving/enjoying all things Porsche.

Problem is owners cars are sitting in dealership's waiting to be fixed instead of being driven. Add to that the amount of top range cars sitting in climate controlled garages only coming out once a year or waiting to be flipped what do you expect!
Anyway this is a thread about amount of new cars available not about driving/owning

Edited by GT4P on Tuesday 21st May 17:44