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Porsche calls buying cars as investments "immoral"by Ronan Glon
The company thinks some of its classics are overvalued.
Porsche doesn't want its cars to sit in heated garages as they appreciate in value. The company recently published an article that, in its original form, sharply criticized buyers who see classic 911s purely as investment pieces, not as sports cars designed to be driven.
The story is about the Porsche Klassik team's new 986-generation Boxster and its status as a future classic. It took a jab at speculators during the first paragraph. The original introduction must not have sat well with everyone at the company, though. The author quickly amended the story with a shorter, less combative introduction.
"The price of classic Porsche models is constantly on the rise. This makes them unaffordable for many. One of the factors behind this development is the questionable interest-rate policy of the European Central Bank (ECB) and the resulting demand for tangible assets. This demand has sent prices skyrocketing and left an increasing number of old Porsche vehicles sequestered in garages, rarely or never seeing the light of day because they were bought purely as investments," the story claimed.
The author added the speculation surrounding Porsche values is becoming "downright immoral" because it spoils the market and causes prices to rise even for so-called normal models like a run-of-the-mill 911 Carrera.
Photo by Ronan Glon.