Are booming petrol prices having an effect on the used Porsche 911 market?
The world has changed in the past month or so. The war in Ukraine has sent shocks around the world, both emotionally and financially. Aside from the horrors inflicted on Ukrainian people, the world is learning to cope with new supply chains for all manner of goods, including Porsche. Earlier last month production temporarily halted due to Ukrainian wiring harness supply being affected. The fallout filters down to us all, as consumers, notably with record petrol prices in recent weeks. Have booming petrol costs had an impact on the 911 market?
Avantgarde Classic’s Jonathan Aucott says yes: the rising cost of fuel – and of living – is having an effect not just on 911s, but the market for classic cars in general. “The froth has perhaps blown very slightly off the top” he says, “but the market is still strong, and demand for quality cars is still out there.” Jonathan says it can be hard to source quality stock, which means enquiries may be down a little, but people are still looking and cars are still selling. “911s aren’t spectacularly efficient, but neither are they terrible. 911 buyers tend to be aware of markets and economic pressures.”
What of the servicing end of the used market? Chris Wright of Wrightune says he hasn’t noticed any difference in customer’s attitudes to work. What he has picked up on is the rising cost of running a business. “Every single thing that we use has shot up in price,” he says. “Not just a little bit, either.” Interestingly, he notes mutterings of possible difficulties in getting some oils, because favoured brands may be in short supply. Whether that persists and becomes a problem, we will have to see. “But in terms of customers, no, behaviours haven’t changed,” Chris says.
We live in a time of great uncertainty at the moment, and Total 911 sends love and support to the suffering of the Ukrainian nation. The fact is, the whole world shares the financial burden of war, across all walks of life. Record petrol prices might be the headline, but there’s a great deal linked to that in economies, affecting everything from energy, to bread, to car production.