The iconic Porsche 356 sports car was launched in 1948, bearing the distinction of being the company’s first full production car. Since then, the Porsche brand has grown to become one of the largest purveyors of luxury in the world. Driving a Porsche is aspirational, giving drivers the feeling of racetrack-quality power and handling ability on the street. As a result, from an investment standpoint this brand is seen by many to be more valuable than many competitors. Porsche cars are built for speed and luxury, and many even increase in value with time. It’s interesting to take a closer look at how these values measure up.
What Sets Porsche Apart
Prices aren’t set arbitrarily, and Porsches retain their value well over the years for a reason. Many were originally designed for both road and racing purposes, and since their inception Porsche cars have won over 24,000 races worldwide. This includes 100 class wins at Le Mans. When you buy a Porsche, you’re buying the highest quality of racing technology with a classic pedigree. The technology used isn’t cheap, nor are the materials used in a Porsche’s construction. Classic Porsches can skyrocket in value. For example, Porsche 550 Spyders are now selling at over $3.5 million dollars, while an iconic 917 is worth $4 million and up. The rarity and reputation of these classic race cars is just part of what makes them so valuable today.
Price Comparison with Other Luxury Brands
Pricing on new Porsches is comparable to other luxury brands with the same level of quality. A recent comparison in Car and Driver magazine found the pricing of a 2012 Porsche 911 Carrera to fall right in the middle of competitors like the 2012 Chevrolet Corvette ZO6 and 2013 Nissan GT-R. The most basic trim level of the Corvette retailed for $76,500, with the Porsche coming in at $84,300. When looking at the latest Nissan GTR listings, the numbers climb higher, and Car and Driver listed the starting price on this model at $92,500. And in this same comparison, the Porsche came out on top for its smooth handling ability and a 0-60 time of 3.6 seconds.
Prices Fluctuate in Different Markets
The price of a new Porsche will also vary depending on the country you’re making your purchase in. Porsche prices are sky-high in countries like Australia, where drivers must pay import duty, state, and federal taxes. When purchasing a $260,000 sports car, an Australian driver would actually be paying $90,000 to the government, according to Australian Porsche spokesman Paul Ellis. In comparison, Porches can be seen as a bargain in countries like the United States, where the same car would cost only five figures. Factors aside from taxes which can cause this price discrepancy include specification standards and rarity. These global market factors affect all cars, not only Porsche. For example, Alfa Romeo Giulietta prices at carsales.com.au show a starting price of $25,000 AUD, while the exact same car is priced at closer to $28,000 AUD in the UK.
Porsche is a staunchly independent brand that has always remained true to its racing aesthetic. Most classic models only grow in value, and brand new Porsches fall right in line with competitor’s prices while blowing them out of the water on road tests. In the end, there are many factors that determine the value of a Porsche.