A spokesman for Greater Manchester Police confirmed the car was taken at 2-50 p.m. on Monday, from Hale, Manchester.
"The offender demanded the keys to the Porsche, which was parked on his driveway, so the victim threw them towards him. He took them and drove off. The victim was not physically injured but was left extremely shaken."
Insp. Phil Cottam, head of Lancashire's Motorway Unit, said: "The car was tracked (a tracker was fitted) along the M66, the A56 Accrington Easterly Bypass and then the M65 towards Nelson. We put resources together in the direction of Nelson and – because of the report of the machete – had also brought in firearms officers equipped with stun guns."
The Porsche was then found abandoned. "A man was quickly arrested not far away and the keys had been thrown under a van. It could be that the driver had simply seen the helicopter, or heard the sirens, and just reacted. A machete was recovered from the vehicle."
He appealed for witnesses to get in touch with PC Mark Calleston-Catterick, of the Motorway Unit on 425001. The log number is 186SQ.
A 26-year-old man from Prestwich has been arrested on suspicion of robbery and is in police custody. He has not yet been charged.