More evidence of Cayenne depreciation

More evidence of Cayenne depreciation

Spies uncover more proof

After our article last week we received a few emails (probably from Cayenne owners and dealers) disputing the letter we published in last week's newletter.

If you didn't get a chance to read it, here it is:

I work for a large California Infiniti dealer and I've been reading your newsletter and following your comments on the Porsche Cayenne. I must admit, I kind of doubted you guys with your predictions of disappointing long-term sales potential and poor resale for the existing sold inventory.

After taking it in on trade last week (for an FX45), your insight predicting poor resale value for the SUV is BANG on!

Check out this deal...The original MSRP on the Cayenne was $68K and change...The customer purchased the Cayenne less than 5 months ago

When the owner asked us to give him a price on the car we did the regular routine of shopping the car around to other Porsche dealers and wholesalers in our region.

After a number of calls by our managers, NO ONE even wanted to bid on it.

Finally, we got someone to buy it, for...get this, $42,000!!!! Yowsa!!!! A $26K bath in less than a year!

Talk about depreciation!

They had to pay us almost $7K AND the Cayenne to get in to the FX45.

And to add insult to injury, the customer called us to tell us he PREFERS the FX to the Cayenne!

The lesson I learned?...NEVER doubt the Spies!

In my opinion, 2004 is going to be one scary year for Porsche!

Take care,

Spooner

To further substantiate the claims in this letter check out these auction results on eBay...

Click here to view the auction results

More Cayenne auction info here

Remember, our job at Auto Spies is to report trends when we see them and be ahead of the curve in order to protect you, the car buyer. We're not here trying to win a popularity contest with manufacturers and dealers. If you're looking for that, there is a nice selection of car magazines on your newsstand, that specialize in marketing disguised as journalism.