Elferspot Market Report – Q3/2023

As part of our exclusive dealer service, we offer insight into the Porsche market on Elferspot. This time, the statistical review looks at interesting developments in the younger 911 generations. The key question here is: How have Porsche 991 and 992 arrived on the used market?

On the one hand, we look at the development of views on the respective listings of both generations, as well as their share of the total of all vehicle call-ups on Elferspot. We have also evaluated how many days pass on average between listing and selling the cars. We also take a look at the price development of selected Porsche 991 and 992 models. This much we can say in advance: Interesting trends over the past few years can be seen in both categories.

Porsche 991 & 992 on Elferspot

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The Porsche 992 is moving ever closer to the 991 in the favor of used buyers

The Porsche 991 is often treated as everybody’s darling of the modern 911s. And the seventh generation Porsche 911 absolutely lived up to this position on the used market. Besides the Porsche 911 G-model, the 991 series is the only generation of 911 that has always been among the three most clicked on Elferspot.

Among the water-cooled 911s, Porsche 991 listings have consistently got the highest click rates. However, it looks as if this position will be contested for the first time by the Porsche 997 in 2023. At the end of the quarter on September 30, the Porsche 997 with an 11.1 percent share of Elferspot’s total clicks on listings was ahead of the 991 with its 10.1 percent share. In 2022, it was the other way round with the 991 clocking 11 percent.

And the Porsche 992 is also steadily catching up. The current Porsche 911 constantly gained clicks during the last years. What was initially just a share of less than two percent of our total views, became around four times as many in 2023! Since its market launch in 2019, the Porsche 992 has thus achieved higher click rates per vehicle than the 991. While each Porsche 991 listing is viewed an average of 1,480 times, 992 ads are viewed an average of 1,580 times.

Some traditionalists see the Porsche 992 as a departure from the 991’s classic design, but the 992’s interest and commercial success prove it right. It may well be polarizing on the outside as well as the inside, but that doesn’t detract from its growing click rates. Of course, it should not be forgotten at this point that new models always generate increased interest. But the trend remains the same.

How long are Porsche 991 and 992 advertised on average?

Another indicator of market activity is the gap between listing the car and the actual sale. After all, a good database on that matter also facilitates liquidity planning. Certainly, not every car is marked as “sold” on Elferspot immediately after sale. But significant differences between model series can lead to the conclusion that certain cars find a buyer more quickly than others.

In this discipline, the Porsche 992 outperforms its predecessor. Across the entire model series, an average of 56 days elapse between the creation of the listing and the subsequent marking as sold. At just under 69 days, the average Porsche 991 remains with the seller for almost two weeks longer. However, there are sometimes major differences between the individual models.

While the 911 Carrera 2 and 4 from both generations are on a par with an average 56 days on offer, the Porsche 991 GT3 has 85 days to go on sale. That is almost twice as long as the 992 GT3 with just 44 days. In case of the Porsche 911 Turbo, sellers need about three months’ patience for both, 991 and 992 models. Porsche 911 Carrera GTS are again closer to the average with 57 and 59 days respectively. The new 992 GT3 RS sells fastest by some margin. It finds a new garage after an average of 37 days.

What about prices? How did they develop for Porsche 991 and 992 respectively?

Until recently, the sports car market was primarily moving upwards. Prices of some models literally exploded from 2020 onwards. But have the two latest generations of Porsche 911 also benefited from this development? We have calculated and compared the average prices of the most popular models of both series for 2021, 2022 and the first three quarters of 2023. The performance of both model series follows a similar pattern.

Average prices for Porsche 991.1 models in recent years

Between 2021 and 2022, both the Porsche 991 and 992 increased in value significantly across the entire range, almost without exception. The Porsche 991 series recorded an average increase in value of ten percent. Its biggest winners were the Porsche 991 GT3 and GT3 RS with 39 and just under 48 percent respectively. In case of the 992, the increase across the whole range was still just a bit shy of four percent.

Average prices for Porsche 991.2 models in recent years

Neither model series was able to repeat this rally in 2023. On average, 991 prices fell by 2.7 percent, while the successor generation lost only marginally in value, by less than 0.5 percent. In 2023, the biggest winners of the previous year were the big losers. 991 GT3 and GT3 RS each lost around 21 percent in value. Nevertheless, this still puts them well above 2021’s price level.

Depreciation is hardly an issue even for almost new Porsche 911s

In view of the Porsche 992’s still very young age – the oldest models are just five years old – the price trend is surprising at first glance. One possible explanation is certainly the list price increase for newly ordered 911s. Porsche increased them by around five percent in March. It’s clear that the used cars followed suit, since the 992 model itself remained unchanged.

Average prices for Porsche 992 models in recent years

Nevertheless, it is astonishing that even Porsche 992 Carrera and Carrera 4 hardly lost any value over several years. Another argument could of course be the order situation at Porsche. Although Porsche sets new sales records year after year, it is not at all easy to get a new 911. And if you can get an allocation, it usually involves long delivery times. So it could well be that the price structure used cars from the current 911 generation will remain stable.

Looking at the development of Porsche 991 prices, it can be assumed that this model has already bottomed out. While previous generations often only experienced their lowest price phase after 20 or 25 years, the prices of Porsche 991 models sometimes rose again after less than ten years.

Good news concerning modern Porsche 911s in general

The results of our small study give us hope. They show that modern 911s of the 991 and 992 generations continue to stand for driving pleasure while holding their value. Unlike their air-cooled predecessors, this should also paint a more positive picture for their future. While the classic 911s often suffered from maintenance backlogs and improperly performed work as a result of very low purchase prices, this should not be an issue here.

What’s more, the two latest generations of Porsche 911 are already catching up noticeably in used buyers’ favor. The fact that the click rates for their ads are already outstripping some air-cooled Porsches clearly speaks for their popularity.