What you need to understand is, this is not a "price crash" but a re instatement to normality from the greedy asking prices from dealers and flippers, the bubble has burst for a variety of reason, happy to do a vid with you. Manufacturing has got back to normal, new cars are coming through, second hand market place has now popped, and new market place over saturated. Finance and balloon payments has massively changed, interest rates miles higher ,along with much higher deposits being sought due to fears of people giving them back.
That is so true. I’m so tired of seeing people so surprised on BaT that a 720S can’t be sold for MSRP after 2 years of lost warranty, or that a new supercar like a Maserati MC20 loses 30% of its value the moment you buy it. That used to be the norm since forever. Nobody was buying/leasing Ferraris, Lamborghinis, Astons, Range Rovers etc. as investments. You knew you’d take a bath on them, but some people had the money to afford that luxury.
Same has happened with the market in Rolex and Audemar Piguet watches... Those with medium-money are tightening the purse strings causing demand to drop... Bubble is deflating
being involved with the car trade and market for over 30 years, ive never seen anything so crazy and we are being warned its going to be even worse, reports of people losing ridiculous money on cars. i definitely wouldn't be buying anything at the moment when stuff is losing money like bricks in water
This sentence pretty much sums up the current situation. Such a mass of “investors” for cars is stupid. Cars not losing value was just a happy coincidence (and usually negated by high maintainance costs on classic cars), now people are speculating on it.
Whatever Msrp prices were for vehicles in 2019, add 7%, then subtract roughly 9-12% for the out the door price of a new car’s price. That is what cars should cost realistically now providing dealers weren’t DB’s . But the world turned on its head and we are inching closer to a reckoning which will hopefully put us closer to the good ole’ days of 2019.
‘If you’re buying now it’s unbelievable’ No it’s not, unless you’ve got a trust fund you can take money out of to buy everything with cash. The only reason these care prices are where they are is because the interest rates are insane
It’s not because of interest rates. People that buy these cars pay cash when rates go up. The entire auto market was was over inflated and is now correcting. I won’t buy for at least a year. They are going way further down (at least the used market)
Interest rates are not insane they are normalising from a period of "insanely low" rates. It means all the financial games that dealers have lived off for the last few years don't work anymore. Life reverts to a place where people have to be more realistic and drive the car they can actually afford.
@@juliantaylor461 actual interest rates in the UK is around 5%, Porsche charging 11.9% is not "normal". If you compare to BMW as an example, rates are between 6 and 8% depending on the model you are buying. I have been funding my cars for 20 years on PCP deals, and have never paid over 7%, almost 12% is insane.
Doesn't really matter how much prices are coming down, current APR rates are negating any possible reductions by dealerships. I am currently interested in changing my 2019 718 Boxster T, however the 11.9% APR being offered by Porsche is laughable. There is a good reason a lot of dealerships are seeing stock not moving, anyone paying almost 12% interest is either so wealthy it doesn't matter to them, or they are nuts.
100% - im in the same boat, could pay cash but that doesnt make sense either when depreciation is so high and you can get 6% return on an ISA or more in current markets. Would love a Turbo S but BMW seem to be better, their offering 4.9% on a M3 Comp Saloon - sadly i would prefer an M3 Touring which is 9.9% - day light robbery but atleast their incentivising sales on lower volume models.
@@michaeljordan6008If you ‘were’ paying cash when you could borrow at 3% and earn at circa 6-9% It makes no financial sense at all. Now however it’s a slightly different story and is probably contributing significantly to the market slowdown.
Maybe in the UK you can buy new Porsches at MSRP but in the states they are still asking over sticker. I just bought a fully loaded 2021 911 Turbo S and paid 15k over MSRP. New 2024 models are going 20k over sticker so maybe they are coming down from 50k over sticker but no 2021-2024 Porsche is selling at MSRP in the US.
My dealer here in Silicon Valley has a low miles CPO 718 Boxster Spyder 4.0L in GT Silver with carbon buckets and pdk for $125K. Even in this crazy area prices are soft.
Mr JWW Great Video I think it's awesome that Porsches are coming down in price so people can get em easier and I think those two GT3s are absolutely gorgeous
Can’t wait enough for the fire sale. Just need to wait a bit more for used cars to pile up so that their prices fall too. With sustained high fuel prices, I see this happening soon. It’s just that people don’t have any reasonable new car to trade their current cars with. So this will take a while. Then dealers will have to lower their prices even more etc.
Looking at the prices in 2017-2018 vs today is just sad. I think the RHD market is coming down faster than the LHD due to the market scale and the euro value. But one thing is sure, im not paying 60-80k€ for a 5 year old Cayman S... should be about 35-50k imo.
We have had the Taycan GT for almost 1.5 years and love it. We have other cars so we don’t depend on it for trips but a great around the city Porsche! Grocery/Pick up the kids machine! Enjoy.
I bought my 997 Turbo years ago when the market was down. Things will have to get worse so we can stabilize. But the old turbo and Gt cars will take less of a hit than the newer ones. I think 2024 will feel a lot like 2008….
Expecting that there would be no more manual is part of the problem by justifying silly price for certain features. JamesEmm explains this well in his video on the subject.
Hmmm… I was offered a configurable S/T allocation yesterday at MSRP and have to give my notice today if I want it or not. Of course I want it. It’s my dream car, but it’s double the money of my GT4RS, and I’m thinking the S/T too will tank in value, short term at least. Long term I think also the GT4RS is a safe bet for solid appreciation. Problem is I have to take out a loan for 40% of the S/T buying price. And they wanted a 12 month embargo on me not selling the S/T, and when it came to sell, the dealer wanted to do the selling.
When you had the grey Taycan & the red GT3 next to each other, can you imagine the front nose of the Tycan being replaced with the front nose of the GT3... I love the rear end of the Taycan but hate the front end!!... Now that would be a great looking car!!.... Almost like a 911 shooting brake
High end cars, watches so called flip opportunities are all on a downward trajectory. Mix of reasons, 1. Buyer's have had enough of the dealer / AD game. 2. There are now too many GT (type) products on the market. 3. Trend for race type GT (type) products has wained, if you look, most have had 6 owners. 4. Higher finance and mortgage rates. 5. Influencers driving £££££££'s cars is of a period of time that has now elapsed. 6. Money is going elsewhere e.g. Adventure motorcycles and life changing experiences.
I guess its another world over the because I just looked in autotrader here in the united states and the prices are nose bleed sky high for NEW AND USED Porsches no breaks whatsoever.
Normal means used cars should be sold below MSRP( for the vast vast vast majority of cars at least...). Normal means that the vast ,vast car models should be available to buy them on the spot(with some delays if you go for exotic specs) from a dealer. Normal definitely does not mean used cars should be sold above MSRP
I remember during the 2008 crash Porsche Careera GTs were going for 280k all day used. I wish i would have brought my whole family together to buy one and then sell it during covid. 😞
Very informative video James, thanks. I think we really are starting to see the effects of higher interest rates. Leasing cars like this now is significantly more expensive. The economy is flatlining and property prices are falling. Hate to sound like a doomer but…. Buckle up everyone!
Many manufacturers are starting to do the moonwalk on EV's. Porsche enthusiasts want that magical sound & a motorcar for the road. Not searching for a charging station, EV issues, or a Dyson. Cheers!
I didn't quite understand his comments why is it a swan song that these cars are trading at 3x4x5x times their value. These calls were meant to be driven and they've just been put into storage for investment purposes All of those cars are going to be released onto the market so that people can actually buy them for real money and drive them and enjoy them. He's talking as if something terrible is happening this isn't terrible this is fantastic. Clearly he wasn't collecting cars in 1990 when price is dropped 90%
Maybe out there but then again UK always had cars more expensive than Canada/US. Here in Canada and the US, prices are still inflated. Some came down a bit but Porsches are high up. Some especially the higher 911 models up to $100k over MSRP
I love my GT4, but I'm waiting for the 991.2 GT3 to bottom out. I think there might be a period where they're the same price next year. What would you take, 991.2 GT3 or GT4RS?
I have a GT4RS and must say the noise is so much fun. Like sitting in the belly of an angry dragon, the gurgling makes you laugh. I sold my GT4 to buy the 4RS. Would have held my Gt4 if money allowed as it was manual and I enjoy that, There is still time to get a 4RS just make sure you select the front axle lift and larger fuel tank :-)
I was with a customer who had a Taycan, it went like stink, but he was quick to point out when the EV tax break ends in 2025 , he’s getting rid of it for a hybrid , he wouldn’t have another EV
@@Jay-xr3sbNah, that's a D0uchmobile, better off with a real basic, comfortable EV during the week, maybe a Hyundai, and a venomous V8 for the weekend and the track
It's a shame that Taycan can't seem to match the range of the Model 3/S for efficiency, I'm not a massive Tesla fan, if I'm honest, the owner is not to my taste shall we say. Germany is all about efficiency, I think that Porsche could really make some serious damage and put a huge dent in the market if they could beat Tesla with market leading efficiency, miles per kilowatt hours is important...in an ideal world, thats my opinion. Even the Taycan '24 update is still behind the curve
Thank God we’re having a return to normality. Cars should be bought to drive not for investors to backhand the dealer principle, get on the waiting list and flip for double the “investment”.
That's not actually a market crash, the prices were very inflated and looks like its coming back to normal, wish i had money for one of these beauties 😆
I was actually offered an S/T yesterday at MSRP. I have to today to give my answer. Yes or no. It’s double the money of my GT4RS and I’m afraid S/T too will be tanking
SO pleased that you have one of these! I’ve long thought that a Porsche Taycan would be my EV of choice, if I could ever afford one, so your thoughts on this will be of great interest.
Dream cars are not achievable for 99% of us still... Still crazy expensive. The saddest thing for me is Id love to have a 911 gt3. 991/992 but I fear by the time I can actually get one they will be Hybrid or EV and the older models will be difficult to sell on because of the insane green push and the taxes they are soon to push on any cars like this. It really does feel like these generations are going to be the last true combustion engined cars with a soul and some actual engagement for the driver.
That "Aubergine" GT3 has been for sale for ages and started at a frankly ridiculous overs price. Recently had £10k shaved off but still nowhere near its original RRP. The bubble burst some time ago and nobody is playing the overs game anymore. Price it realistically and it will sell. Flippers gonna flip and the OPC is complicit in trying to fleece people on overs selling the car several times over whilst true enthusiasts miss out. 56 miles FFS - I bet the "owner" has never even driven it.
Watched a vid from the USA on a similar topic. Two brand new 2022 pick up trucks still sat on the lot, both the best part of $150,000😂. Remember in the U S 22 model year is out in 21..
There are plenty of issues. Easy credit deals pushed prices and margins of new cars up. The reality is that the second hand market is more circumspect especially as credit conditions (and remortgaging conditions) are less attractive. However, Mr JWW, by far the biggest turn off for buying any of these cars are the catastrophically expensive servicing and prices of parts (when they can be found...). Wing mirror of a X3 Mumtruck: £1000. New headlamp for a e89 Z4...nearly £2000. The market crash will also extend to EVs as the second hand market starts realising that buying a new Tesla battery or powertrain is close to the value of the car... Now this is not really your department Mr JWW, but the saving grace for many of these cars may turn out to be parting them out on eBay.
From the technical standpoint the weight increase in EV will be compansated by gain in power. Usually the benefit is more than the loss created by the weight gain.
The price will keep going down below list on used as they are being bought on loans jst to appreciate and they no longer do which means most of the customer base (flippers) are gone
There is a major problem which no body is talking about and its Finance COs who have offered PCP on cars There will be a lot of cars handed back which will be in neg equity and the loss is going the fall on PCP Finance and who is going to pay for the loss ????
Also, Porsche Taycan - 12mths ago going for massive overs.. Tewkesbury Porsche emailed me last month offering £5k off any new Taycan if delivered by end of year…
In 1992 Nigel mansell's f40 sold for $110,000 having previously been sold in Japan for 1.5 million. Did the world collapse know did everybody get the opportunity to buy fantastic cars at great prices Yes
The problem I see with a lot of the comments on here must be from second hand buyers talking about how better it is that prices are returning to usual levels but slagging off people for selling their cars for more money and calling them flippers is ridiculous when they have to spend hundreds or even millions to get one or two cars that makes them money is a bit harsh in an ideal world car dealerships limited supply to confirmed orders not just for production estimates that way the market wouldn’t be diluted and people who buy new or second have their prices secured rather than what manufacturers do now where the produce as many as possible and forget about the consumers pocket when they come to sell
It was inevitable. APR on car finance was never lowered to where it should have been when bank base rates were low. Surplus cash built up through Covid lockdowns has now been exhausted. And now even higher APR’s on finance has led to people thinking more frugally. It’s a price correction and with 2 million UK home owners to renew mortgage deals at much higher rates than they’ve been used to this year, I don’t see the car market improving anytime soon.
All the young punks with some money 💴 ran out and bought supercars thinking they were going to go up and up. The old guys sat there and laughed, knowing they would come down pretty damn quick. Buy low sell high always works.
Totally not true here in the states. The 4 GTS ends up over $200K and usually has a 30K ADM. Prices are heading up, not down. Also you cannot possibly daily a GT3 unless you have brass balls...very rough ride for a daily. And UK roads??? You will be talking like Michael Jackson when you get out of the car.
Was in Germany in September and got to drive my brother-in-law’s Porsche Taycan GTS Sport Turismo (he works for Porsche). First time I’ve driven a Porsche. Very nice!
These are the real prices.. good so! End of speculation overkill… in 10 years will be so much cars from old collectors on the market that everybody drive a sportscar 🚨🤦🏻♂️
Because your interest rates are a lot lower than here in the UK and the Fed is talking about dropping them. Meanwhile our incompetent Bank of England was to late to raise rates and now will be to late to drop rates. They've even had to employ Ben Bernanke to try and figure out why they fucked up so badly.
Stop it. 10 years ago videos said last chance to buy a Manuel. Today, manuals still available. Now saying last chance for a petrol car…. I don’t think so and porsche is developing carbon neutral (bs) gas.
An awful lot of these clown cars are bought by men with hot money, not real wealth. They will all get caught with their pants down next year when the recession really kicks in and then even these prices will seem expensive, Porsche's have been in a bubble that is bursting. You didn't mention interest rates once, which is going to wreck this market once all the clowns need to refinance...
Normalisation of markets. APR is ridiculous; Porsche sticking prices up by double digit %age every 12 months adding to people pulling out. Give it another 6mths and they will be even less expensive..
Great video with some dream cars but clearly what’s happening in the world,especially to the high purchase priced goods.. Clearly interest rates are a huge factor. These horrid buyers that have had the ability to order these wonderful cars like watch’s just to flip.. Even the wealthy can’t really afford these cars/watches Any longer.. Porsche like Rolex there run has come to an end.
What you need to understand is, this is not a "price crash" but a re instatement to normality from the greedy asking prices from dealers and flippers, the bubble has burst for a variety of reason, happy to do a vid with you. Manufacturing has got back to normal, new cars are coming through, second hand market place has now popped, and new market place over saturated. Finance and balloon payments has massively changed, interest rates miles higher ,along with much higher deposits being sought due to fears of people giving them back.
Bingo. It’s been insane.
That is so true. I’m so tired of seeing people so surprised on BaT that a 720S can’t be sold for MSRP after 2 years of lost warranty, or that a new supercar like a Maserati MC20 loses 30% of its value the moment you buy it. That used to be the norm since forever. Nobody was buying/leasing Ferraris, Lamborghinis, Astons, Range Rovers etc. as investments. You knew you’d take a bath on them, but some people had the money to afford that luxury.
Same thing has happened in the luxury watch market
@@classlessbozo317Oh, when the realisation will truly kick in that modern Rolexes are mass-produced unwieldy watches. That will be fun
Well said
Dealers clearly know what’s coming
The market crash? Or something else?
As someone that works at a dealer, you mean the manufacturer.
DDE doesn't
@@ZingZingNZ How?
@shr2000 finance closes bad debt when a car value falls more than market
‘Normal’ is actually being able to negotiate down from MSRP. That’s almost always been the case historically.
Same has happened with the market in Rolex and Audemar Piguet watches... Those with medium-money are tightening the purse strings causing demand to drop... Bubble is deflating
It's not that they're now undervalued it's that they were previously, massively overvalued
Exactly this 👆🏻
+1 - and massively is an understatement. Pure speculative market.
I love the low-key vibe. I really enjoyed this.
Fully impromptu video, was interesting see the price changes 😅👍🏻
Lol a lot of GT owners aren't going to appreciate this PSA @@JWWUncut 😅
Stfu! You must think we are stupid
being involved with the car trade and market for over 30 years, ive never seen anything so crazy and we are being warned its going to be even worse, reports of people losing ridiculous money on cars. i definitely wouldn't be buying anything at the moment when stuff is losing money like bricks in water
The last years was raised by stupid money.. now its a recut to Normallife..
I think prices will keep going down as investors look to get rid of cars in a falling market. We haven’t seen the bottom of the market yet…….
This sentence pretty much sums up the current situation. Such a mass of “investors” for cars is stupid. Cars not losing value was just a happy coincidence (and usually negated by high maintainance costs on classic cars), now people are speculating on it.
100%
Those two GT3’s are absolutely stunning
In Australia I saw one drop $30k in a month. Hopefully they keep dropping to a reasonable price so we don't have to give the sales guy a 😮✊️
100% prices are dropping over here too. Those people still asking 20/30/40% above MSRP are DREAMING.
Yes, they are still circa $600K AUD though haha. Lets hope they drop to $60K and then I am ready.
probably cheaper to import one from UK than buy one here 🤣
lol
🙈
I can't believe how much i enjoy someone pronouncing Porsche the right way in english. 😂
Still feels weird but yes it’s correct.
POR-CAR! or Porca for short!
Take a look at the AM DBX and the Porsche Taycan it’s incredible how much money they have lost in 12 months
Whatever Msrp prices were for vehicles in 2019, add 7%, then subtract roughly 9-12% for the out the door price of a new car’s price. That is what cars should cost realistically now providing dealers weren’t DB’s . But the world turned on its head and we are inching closer to a reckoning which will hopefully put us closer to the good ole’ days of 2019.
the dark red / gold wheels GT3 is magnificent
As someone who lives in the highlands i cant wait to be able to buy a gt4rs/gt3 and take it on the nc500
‘If you’re buying now it’s unbelievable’
No it’s not, unless you’ve got a trust fund you can take money out of to buy everything with cash. The only reason these care prices are where they are is because the interest rates are insane
It’s not because of interest rates. People that buy these cars pay cash when rates go up. The entire auto market was was over inflated and is now correcting. I won’t buy for at least a year. They are going way further down (at least the used market)
@@livinglife1089Smart man...people need patience with both their money and cars.
Prices are barely going down in US
Interest rates are not insane they are normalising from a period of "insanely low" rates. It means all the financial games that dealers have lived off for the last few years don't work anymore. Life reverts to a place where people have to be more realistic and drive the car they can actually afford.
@@juliantaylor461 actual interest rates in the UK is around 5%, Porsche charging 11.9% is not "normal". If you compare to BMW as an example, rates are between 6 and 8% depending on the model you are buying. I have been funding my cars for 20 years on PCP deals, and have never paid over 7%, almost 12% is insane.
this whole video just sounds like james selling porsche to get an S/T allocation from that dealer😂
The gt3 on that Dark Red is Super
A price crash because they're being sold at MSRP. Lol
They are not for upper end models.
@@michaelwolpmann9453 that makes it even more laughable.
Doesn't really matter how much prices are coming down, current APR rates are negating any possible reductions by dealerships. I am currently interested in changing my 2019 718 Boxster T, however the 11.9% APR being offered by Porsche is laughable. There is a good reason a lot of dealerships are seeing stock not moving, anyone paying almost 12% interest is either so wealthy it doesn't matter to them, or they are nuts.
100% - im in the same boat, could pay cash but that doesnt make sense either when depreciation is so high and you can get 6% return on an ISA or more in current markets. Would love a Turbo S but BMW seem to be better, their offering 4.9% on a M3 Comp Saloon - sadly i would prefer an M3 Touring which is 9.9% - day light robbery but atleast their incentivising sales on lower volume models.
I jumped car last year. Most dealers were offering 8-11%, then my bank offered me 3.3%. That's a no brainer.
If buying as opposed to leasing, most people are paying cash.
I don’t know anyone financing a GT Porsche.
@@jeremyneedham413- Buying fun cars never makes sense.
If you can’t afford to lose money or an investment opportunity on a car, you can’t afford it.
@@michaeljordan6008If you ‘were’ paying cash when you could borrow at 3% and earn at circa 6-9% It makes no financial sense at all. Now however it’s a slightly different story and is probably contributing significantly to the market slowdown.
picking up my gt4 982 tomorrow.... 123k i paid for 7k miles on it. Much love from the US!
Maybe in the UK you can buy new Porsches at MSRP but in the states they are still asking over sticker. I just bought a fully loaded 2021 911 Turbo S and paid 15k over MSRP. New 2024 models are going 20k over sticker so maybe they are coming down from 50k over sticker but no 2021-2024 Porsche is selling at MSRP in the US.
Sad but true. Used 992's seem to be selling for original MSRP. A base 992 may be discounted, but not the S or 4S. I've basically given up for now.
"Almost list price" "delivery mileage" that's wild.
Remember the times when the dealer would cut you 20%, so that the 60% value loss over 3 years would become more palatable?
I'm seeing 871 GT4s for $99K US. And GT4 718 going for $124K with barely any miles. Prices definitely coming down. Finally.
My dealer here in Silicon Valley has a low miles CPO 718 Boxster Spyder 4.0L in GT Silver with carbon buckets and pdk for $125K. Even in this crazy area prices are soft.
I'm glad I was patient and didn't fall into the trap of over paying.
Mr JWW Great Video I think it's awesome that Porsches are coming down in price so people can get em easier and I think those two GT3s are absolutely gorgeous
Can’t wait enough for the fire sale. Just need to wait a bit more for used cars to pile up so that their prices fall too. With sustained high fuel prices, I see this happening soon. It’s just that people don’t have any reasonable new car to trade their current cars with. So this will take a while. Then dealers will have to lower their prices even more etc.
Looking at the prices in 2017-2018 vs today is just sad. I think the RHD market is coming down faster than the LHD due to the market scale and the euro value. But one thing is sure, im not paying 60-80k€ for a 5 year old Cayman S... should be about 35-50k imo.
Did you say that’s Porsche Center in Perth- Peter Vardy group I believe?
We have had the Taycan GT for almost 1.5 years and love it. We have other cars so we don’t depend on it for trips but a great around the city Porsche! Grocery/Pick up the kids machine! Enjoy.
If you can afford it, that's the ideal...
Uncut content is still just epic.
Love it.
Not so much a market crash, as cars simply coming back down to the level they should be, after being heavily overinflated for a while.
I bought my 997 Turbo years ago when the market was down. Things will have to get worse so we can stabilize. But the old turbo and Gt cars will take less of a hit than the newer ones. I think 2024 will feel a lot like 2008….
Yep, I have a 996 turbo, prices are up and down like a yo yo, I am just enjoying driving it
6:37 the red sport tourissmo looks lovely!
Expecting that there would be no more manual is part of the problem by justifying silly price for certain features. JamesEmm explains this well in his video on the subject.
That ruby gt3 was £200k a few months back. Been for sale a while
Hmmm…
I was offered a configurable S/T allocation yesterday at MSRP and have to give my notice today if I want it or not. Of course I want it. It’s my dream car, but it’s double the money of my GT4RS, and I’m thinking the S/T too will tank in value, short term at least. Long term I think also the GT4RS is a safe bet for solid appreciation.
Problem is I have to take out a loan for 40% of the S/T buying price. And they wanted a 12 month embargo on me not selling the S/T, and when it came to sell, the dealer wanted to do the selling.
Very jealous of your situation 😂, how did you go making a decision?
Your probably right about the colours down south.
I notice most Audi dealerships its either Black Grey or White !
When you had the grey Taycan & the red GT3 next to each other, can you imagine the front nose of the Tycan being replaced with the front nose of the GT3... I love the rear end of the Taycan but hate the front end!!... Now that would be a great looking car!!.... Almost like a 911 shooting brake
Dealers floor plan (borrowing cost) is driving this. With increased borrowing costs for their own stock, they need to shift the liability.
High end cars, watches so called flip opportunities are all on a downward trajectory. Mix of reasons, 1. Buyer's have had enough of the dealer / AD game. 2. There are now too many GT (type) products on the market. 3. Trend for race type GT (type) products has wained, if you look, most have had 6 owners. 4. Higher finance and mortgage rates. 5. Influencers driving £££££££'s cars is of a period of time that has now elapsed. 6. Money is going elsewhere e.g. Adventure motorcycles and life changing experiences.
I guess its another world over the because I just looked in autotrader here in the united states and the prices are nose bleed sky high for NEW AND USED Porsches no breaks whatsoever.
I usually hate these rich guy supercar channels, but this guy is so good looking.
Normal means used cars should be sold below MSRP( for the vast vast vast majority of cars at least...). Normal means that the vast ,vast car models should be available to buy them on the spot(with some delays if you go for exotic specs) from a dealer.
Normal definitely does not mean used cars should be sold above MSRP
I remember during the 2008 crash Porsche Careera GTs were going for 280k all day used. I wish i would have brought my whole family together to buy one and then sell it during covid. 😞
Gt3 is now 170k.. I'm buying one !!! Now is the time , things will slowly review slightly in spring
Very informative video James, thanks. I think we really are starting to see the effects of higher interest rates. Leasing cars like this now is significantly more expensive. The economy is flatlining and property prices are falling. Hate to sound like a doomer but…. Buckle up everyone!
That gt3 colour is absolutely stunning. 100k for a cayman though hardly chump change is it.
0.5% mate, doctors and consultants are part of the 5% but they aren't buying 100k sterling Caymans.
Many manufacturers are starting to do the moonwalk on EV's. Porsche enthusiasts want that magical sound & a motorcar for the road. Not searching for a charging station, EV issues, or a Dyson. Cheers!
I didn't quite understand his comments why is it a swan song that these cars are trading at 3x4x5x times their value. These calls were meant to be driven and they've just been put into storage for investment purposes All of those cars are going to be released onto the market so that people can actually buy them for real money and drive them and enjoy them. He's talking as if something terrible is happening this isn't terrible this is fantastic. Clearly he wasn't collecting cars in 1990 when price is dropped 90%
Which market is involved? Not in the Netherlands anyway. So we buy the excotic better elsewhere.
I don't see any price drops in EU/German used market...
Good to see you back in Perth
I hope this realization kicks in for gm on the z06
Maybe out there but then again UK always had cars more expensive than Canada/US.
Here in Canada and the US, prices are still inflated. Some came down a bit but Porsches are high up. Some especially the higher 911 models up to $100k over MSRP
Perhaps there's still some way to go - I don't see the rate of price reductions slowing currently !!!!!
I love my GT4, but I'm waiting for the 991.2 GT3 to bottom out. I think there might be a period where they're the same price next year. What would you take, 991.2 GT3 or GT4RS?
I would take GT4 RS over 991.2 GT3 but I would have 991.2 GT3 RS over GT4 RS.
I have a GT4RS and must say the noise is so much fun. Like sitting in the belly of an angry dragon, the gurgling makes you laugh. I sold my GT4 to buy the 4RS. Would have held my Gt4 if money allowed as it was manual and I enjoy that, There is still time to get a 4RS just make sure you select the front axle lift and larger fuel tank :-)
GT3 definitely 👍
Nothing comes close to the GT4RS. The rest is just boring in comparison, from any make.
If you can get a 992 GT3 for £160k, there’s got to be a major readjustment in 991.2 GT3s soon I think. Now that’s also tempting.
5:50 interested to hear why you couldn’t stand the model 3 performance?
Think you should buy the pair of blue ones.
I was with a customer who had a Taycan, it went like stink, but he was quick to point out when the EV tax break ends in 2025 , he’s getting rid of it for a hybrid , he wouldn’t have another EV
It'll lose more money than the tax break ever gave, strange logic.
Better off with a long range tesla
@@Jay-xr3sbNah, that's a D0uchmobile, better off with a real basic, comfortable EV during the week, maybe a Hyundai, and a venomous V8 for the weekend and the track
Daily a 992 GT3 ? Have you driven one? Harrys Garage said it would be horrendous as a daily.
Don't buy 992 regular models, 991.2 is more desireable, and the GTS 991.2 is ace. Keeps its value perfectly.
It's a shame that Taycan can't seem to match the range of the Model 3/S for efficiency, I'm not a massive Tesla fan, if I'm honest, the owner is not to my taste shall we say. Germany is all about efficiency, I think that Porsche could really make some serious damage and put a huge dent in the market if they could beat Tesla with market leading efficiency, miles per kilowatt hours is important...in an ideal world, thats my opinion. Even the Taycan '24 update is still behind the curve
Thank God we’re having a return to normality. Cars should be bought to drive not for investors to backhand the dealer principle, get on the waiting list and flip for double the “investment”.
That's not actually a market crash, the prices were very inflated and looks like its coming back to normal, wish i had money for one of these beauties 😆
You have my support to totally ignor the EV. Maybe I will be able to afford an ST if they drop in price too😊
I was actually offered an S/T yesterday at MSRP. I have to today to give my answer. Yes or no. It’s double the money of my GT4RS and I’m afraid S/T too will be tanking
Yes its aimed at a small demographic so I dont know how its going to hold its value-You have a GT4RS to enjoy @@Nord_Mann
SO pleased that you have one of these! I’ve long thought that a Porsche Taycan would be my EV of choice, if I could ever afford one, so your thoughts on this will be of great interest.
Dream cars are not achievable for 99% of us still... Still crazy expensive. The saddest thing for me is Id love to have a 911 gt3. 991/992 but I fear by the time I can actually get one they will be Hybrid or EV and the older models will be difficult to sell on because of the insane green push and the taxes they are soon to push on any cars like this. It really does feel like these generations are going to be the last true combustion engined cars with a soul and some actual engagement for the driver.
That "Aubergine" GT3 has been for sale for ages and started at a frankly ridiculous overs price. Recently had £10k shaved off but still nowhere near its original RRP. The bubble burst some time ago and nobody is playing the overs game anymore. Price it realistically and it will sell. Flippers gonna flip and the OPC is complicit in trying to fleece people on overs selling the car several times over whilst true enthusiasts miss out. 56 miles FFS - I bet the "owner" has never even driven it.
Watched a vid from the USA on a similar topic. Two brand new 2022 pick up trucks still sat on the lot, both the best part of $150,000😂. Remember in the U S 22 model year is out in 21..
That red gt3 with gold wheels looks unbelievable 😮
Wow this was a very informative video 👍👍👍👍👍
There are plenty of issues. Easy credit deals pushed prices and margins of new cars up. The reality is that the second hand market is more circumspect especially as credit conditions (and remortgaging conditions) are less attractive.
However, Mr JWW, by far the biggest turn off for buying any of these cars are the catastrophically expensive servicing and prices of parts (when they can be found...). Wing mirror of a X3 Mumtruck: £1000. New headlamp for a e89 Z4...nearly £2000.
The market crash will also extend to EVs as the second hand market starts realising that buying a new Tesla battery or powertrain is close to the value of the car...
Now this is not really your department Mr JWW, but the saving grace for many of these cars may turn out to be parting them out on eBay.
From the technical standpoint the weight increase in EV will be compansated by gain in power. Usually the benefit is more than the loss created by the weight gain.
The price will keep going down below list on used as they are being bought on loans jst to appreciate and they no longer do which means most of the customer base (flippers) are gone
Currently waiting for used Ferrari GTC4Lusso prices to come down a bit. V12 + shooting brake a winning combination!
There is a major problem which no body is talking about and its Finance COs who have offered PCP on cars There will be a lot of cars handed back which will be in neg equity and the loss is going the fall on PCP Finance and who is going to pay for the loss ????
I’m crying, the 2022 gt4 for 91k even if in pounds. These are around 140k US dollars in the states, that’s what a 30k dollar difference. Just sad.
A lot of car for the money!
Great video mate!
Also, Porsche Taycan - 12mths ago going for massive overs.. Tewkesbury Porsche emailed me last month offering £5k off any new Taycan if delivered by end of year…
Great vid. But where's the epic gilet from ?
In 1992 Nigel mansell's f40 sold for $110,000 having previously been sold in Japan for 1.5 million. Did the world collapse know did everybody get the opportunity to buy fantastic cars at great prices Yes
These UK prices are GREAT. These cars are still higher than giraffes butt in US.
He really is the David Brent of car videos
The problem I see with a lot of the comments on here must be from second hand buyers talking about how better it is that prices are returning to usual levels but slagging off people for selling their cars for more money and calling them flippers is ridiculous when they have to spend hundreds or even millions to get one or two cars that makes them money is a bit harsh in an ideal world car dealerships limited supply to confirmed orders not just for production estimates that way the market wouldn’t be diluted and people who buy new or second have their prices secured rather than what manufacturers do now where the produce as many as possible and forget about the consumers pocket when they come to sell
It was inevitable. APR on car finance was never lowered to where it should have been when bank base rates were low. Surplus cash built up through Covid lockdowns has now been exhausted. And now even higher APR’s on finance has led to people thinking more frugally. It’s a price correction and with 2 million UK home owners to renew mortgage deals at much higher rates than they’ve been used to this year, I don’t see the car market improving anytime soon.
All the young punks with some money 💴 ran out and bought supercars thinking they were going to go up and up. The old guys sat there and laughed, knowing they would come down pretty damn quick. Buy low sell high always works.
Totally not true here in the states. The 4 GTS ends up over $200K and usually has a 30K ADM. Prices are heading up, not down. Also you cannot possibly daily a GT3 unless you have brass balls...very rough ride for a daily. And UK roads??? You will be talking like Michael Jackson when you get out of the car.
Was in Germany in September and got to drive my brother-in-law’s Porsche Taycan GTS Sport Turismo (he works for Porsche). First time I’ve driven a Porsche. Very nice!
Ev is not Porsche 😢
These are the real prices.. good so! End of speculation overkill… in 10 years will be so much cars from old collectors on the market that everybody drive a sportscar 🚨🤦🏻♂️
Very much not the case in the USA unfortunately
Because your interest rates are a lot lower than here in the UK and the Fed is talking about dropping them. Meanwhile our incompetent Bank of England was to late to raise rates and now will be to late to drop rates. They've even had to employ Ben Bernanke to try and figure out why they fucked up so badly.
Stop it. 10 years ago videos said last chance to buy a Manuel. Today, manuals still available. Now saying last chance for a petrol car…. I don’t think so and porsche is developing carbon neutral (bs) gas.
An awful lot of these clown cars are bought by men with hot money, not real wealth. They will all get caught with their pants down next year when the recession really kicks in and then even these prices will seem expensive, Porsche's have been in a bubble that is bursting. You didn't mention interest rates once, which is going to wreck this market once all the clowns need to refinance...
I gotta be this level of wealthy one day when I can make $100k+ cars sound like I'm shopping for Miata's and Hyundai's 🤣🤣🤣🤣
Unfortunately nothing of the sort in Ireland
Normalisation of markets. APR is ridiculous; Porsche sticking prices up by double digit %age every 12 months adding to people pulling out. Give it another 6mths and they will be even less expensive..
Great video with some dream cars but clearly what’s happening in the world,especially to the high purchase priced goods..
Clearly interest rates are a huge factor.
These horrid buyers that have had the ability to order these wonderful cars like watch’s just to flip..
Even the wealthy can’t really afford these cars/watches Any longer..
Porsche like Rolex there run has come to an end.
🤣 no it’s not a great buy now. It’s a fair buy and you were just getting ripped off the last few years.
Buyers remorse syndrome is reaching pandemic levels😢