Porsche 911 S/T Will Be Leased to Buyers for the First Year to Deter Scalpers
Porsche has guaranteed that owners of the limited-edition 911 won’t be able to cash in on a quick payday.
The 2024 Porsche 911 S/T is almost tailor-made reseller bait. Flippers won't care much about its 9,000-rpm flat-six, or its close-ratio six-speed manual transmission—just the fact that only 1,963 examples will be built. Porsche had enough of these losers years ago though, so it baked a clause into 911 S/Ts' sale contracts that aims to trip up resellers by ensuring they don't receive legal ownership for at least a year after delivery.
The protective measure was explained by Porsche's head of the 911 and 718 model lines, Frank Moser, at last week's Rennsport Reunion 7.
"When the 911 S/T—marking 60 years of the 911—was announced, we received unprecedented interest in the car, far outnumbering the number destined for the U.S.," Moser told a media roundtable. "We want to ensure that cars are available reach true enthusiasts, to be driven and enjoyed for years to come. For this reason, those allocated a 911 S/T in the U.S. will be required to adhere to an agreed minimum retention period, set at one year."
"In practice, this will mean that cars in the US will initially be leased for this period, before ownership is transferred," Moser said. "This process is currently unique to the 911 S/T, with the first cars due to arrive in the US in Spring 2024."
Flipping first became a problem for Porsche in the wake of the 911 R, a manual version of the 991 GT3 RS. One of Porsche's responses was the release of the GT3 Touring, another manual GT3 that immediately diluted the market. Automakers have come up with varying solutions to the problem, from General Motors voiding warranties on Z06s and banning their buyers to a two-year no-resale contract on the Ford GT. Even famed wrestler John Cena couldn't suplex Ford into submission in court.
Obviously, a one-year lease that precedes ownership will be of limited effectiveness, as all it does is delay the S/Ts' arrival on the used market. Then, their buyers will be free to resell them without worry. But perhaps that year will cool the hype that drives some people to overpay just to have the latest Porsche. Because when the 911 S/T is no longer the latest and greatest, maybe it won't sell for as much. Maybe.
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