1. The 992 market takes its first hit after 1.5 years of price stability

2. 992 price declines: The numbers

3. What’s driving the drop?

4. GTS and T models: Bigger declines

5. No spillover to other 911 generations

6. The broader context

7. What about other markets?

8. Conclusion

The 992 market takes its first hit after 1.5 years of price stability

For over a year and a half, the Porsche 992 market has seen unprecedented price stability. Prices held firm, defying the broader trends seen in the automotive industry. However, recent developments indicate the 992 has now experienced its first dip. The key questions remain: how much did prices decline, what does this mean for the future, and are other 911 generations affected? Let’s dive into the latest trends and explore what’s behind the 992’s first stumble.

992 price declines: The numbers

The price decline for the Porsche 992 is noticeable but far from catastrophic. Over the last three months, the Carrera 2 base and Carrera S models experienced their most significant drop since February 2023. Specifically, base models saw a 3.7% decrease, while the S models declined by 3.6%. On a year-over-year basis, this brings total price reductions to 4.4% for base models and 7.1% for the Carrera S. These figures represent a turning point after 1.5 years of relative calm.

What’s driving the drop?

Although a 4-7% price decline might seem alarming, there’s no immediate reason to panic. Two important factors explain this dip:

• Market Segmentation: Not all 992 models are seeing uniform depreciation. The newer 2023 and 2024 models, which are still accumulating their first miles, are more affected as they move through the steepest part of the depreciation curve. Older models, such as the 2020 versions, have only lost around 3.9%, less than the overall market average.
• High Demand Remains: Despite the recent price drop, demand for the 992 is still strong. Sellers may have been overconfident in their pricing strategies, refusing to offer discounts on unsold cars. As inventory levels remain high, prices will adjust, but the market remains competitive compared to other segments.

GTS and T models: Bigger declines

When looking at the broader 992 market, GTS and T models saw larger dips compared to their base and S counterparts. GTS models experienced an 11.1% depreciation, while T models dropped by 9%. While these figures are more significant than the base Carrera models, it’s worth noting that these cars tend to follow slightly different market dynamics, often being in higher demand among enthusiasts.

No spillover to other 911 generations

Interestingly, the depreciation in the 992 market hasn’t spread to other 911 generations. The Carrera 991.2 base and S models, for example, have been stable since 2022, with only a marginal 0.9% decline for the S models. GTS variants of the 991.2 are down by just 2.5%, a relatively small change. The older 991.1 market also shows resilience, with base models down only 2.8% and S models dropping by a mere 1.3%.

Even further back, the 997 and 996 models remain remarkably steady, with only minor fluctuations. For example, the 997.1 base models saw a 0.1% rise, while S models enjoyed a 4.9% increase in value, demonstrating the strong performance of these older generations.

The broader context

So, what does this all mean for the future of the 992 market? While the recent drop is noteworthy, it’s far from a sign of market collapse. In fact, the depreciation rate of 5.5% is still below the broader average for cars across the luxury market, where typical year-over-year declines hover around 7.4%. For a car as new as the 992, a 5.5% depreciation is relatively mild.

Moreover, while the 992 models are sitting slightly longer on the market than before, inventory turnover is still quick. Sellers may need to become more flexible with pricing, but the market’s underlying strength remains intact. We’ve yet to see significant discounting on unsold 992s, though that could change if the trend continues.

What about other markets?

Interestingly, the trend observed in the U.S. market appears to be mirrored in other regions. Preliminary data from Germany suggests a similar 5.5% depreciation rate for 992 models. This synchronicity between the U.S. and German markets is unusual and indicates that the global demand for the Porsche 992 remains aligned. Other Porsche generations, including the 996, 997, and 991, have also exhibited comparable price trends between these two regions, though more data is needed for a definitive analysis.

Conclusion

The 992 market has indeed taken its first hit after a long period of stability, but the price drops are manageable, especially when compared to broader market trends. The depreciation is mostly concentrated in newer 2023 and 2024 models, with older cars showing more stability. Other generations of the 911, such as the 991, 997, and 996, remain largely unaffected, indicating that this price dip is isolated to the 992.

While sellers may need to adapt their pricing strategies moving forward, the demand for 992s is still strong, and this recent shift may be more of a market correction than a sign of long-term decline. Keep an eye on the market, but there’s no reason to panic—at least, not yet.

As we continue to monitor these trends, particularly in both U.S. and international markets, it will be interesting to see whether this depreciation accelerates or stabilizes in the coming months. For now, the Porsche 992 remains a highly sought-after model with demand that few competitors can match.

Inspired by the analysis of our friend @fourwheeltrader. Make sure you check his other videos https://www.youtube.com/@fourwheeltrader/featured.

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