Sales debate Is the post-lockdown Porsche market still buoyant?
As regular readers will know, we’ve kept a close eye on the Porsche market in recent ‘sales debate’ columns as we assess how it’s reacting to implications from the coronavirus pandemic. We previously reported that, going into lockdown, the marketplace was booming, possibly as a result of pent-up buyer frustration from years of Brexit turmoil (in the UK at least). Surprisingly, many of our partners reported strong sales in April and May during lockdown and then as restrictions eased, perhaps with enthusiasts having used the downtime to assess life ambitions and daily routines. But now restrictions are easing further and a close rendition of normal life has resumed for most, how has the Porsche marketplace fared?
“It’s still a great place to be, there’s no doubt about it,” says Karl Meyer from Porsche buying experts 2911. “Prices have fallen back slightly from the really top-end stuff, as we previously mentioned, but the mid-range and entry-level end of the spectrum is really busy, with lots of transactions taking place. Values have held nice and firm for all the models which fall into those categories, so overall it’s really positive.”
Anthony Pozner, of Hendon Way Motors, echoes Meyer’s sentiments: “We’ve had one of our best-ever months, there’s plenty of stock around and plenty of people wishing to buy. We’ll see how the rest of the year pans out, but for now it’s certainly a really healthy place to be, whether you’re buying or indeed selling a Porsche. 996 and 997 are doing particularly well, and there’s good interest in classics too, which shows there’s appetite from buyers across the 911 spectrum.”
Both specialists are keen to stress that the manic days of 2014 and 2015 are a long way behind us, though, which brings positives: “It means you can still take your time to do your due diligence and find the right car for you,” Meyer says. The good times are back, and let’s hope they’re here to stay for a while yet.