Porsche devised a way of punishing car flippers who profit from selling their purchases. PICTURED: A 2018 Porsche 911 GT3 is displayed during at the New York International Auto Show, April 12, 2017 at the Jacob K. Javits Convention Center in New York City.
(Photo : Drew Angerer/Getty Images)
Posche wants the car flippers handled. The company announced it will punish disloyal customers who make a massive profit for their GT purchases following an incident involving its 911 R model.
Porsche GT's car development head Andreas Preuninger discussed its action against flippers via Car and Drive. He said the company did not intend to produce limited numbers of cars just so buyers can make a profit from it. The company would like to discourage this type of culture.
"I personally like to see my cars being used. That's what we build them for," Preuninger said. "We don't want to be laying money on each car's roof when they run out of the factory."
Preuninger also vowed Porsche GT will go after buyers who flip their GT purchase. One way to prevent this is to not give flippers a slot for the next car release. "It's not a punishment but a strategy: to supply the cars to the customers who will really use them," Preuninger said, adding that the company is not a hedge fund for car lovers' investments.
Flipping cars, especially the limited release of Porsches, is not something new and some enterprising individuals have been doing this practice for ages. They pay speculators and keep the car stashed so that it remains in good working condition. Then, flippers would sell the car at a higher price, especially when there's a high demand for it. According to Autoweek, Porsche GTs are especially in demand among car enthusiasts because it's becoming a rare manual transmission vehicle.
A few months back, Porsche was alerted to a car flip in Australia where the customer kept a rare 911 R model with a mileage of just under 68 km. The owner put the car on the market for $900,000 when it was originally bought for $404,700 as per DMarge.