Customers buying sought-after cars and immediately selling them for a profit isn’t a problem exclusive to Australia.
In the US, Porsche has devised a solution, which it’s employing with its new 911 S/T.
“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.,” said Frank Moser, head of the 911 and 718 model lines, in remarks reported by The Drive.
“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.
“This process is currently unique to the 911 S/T, with the first cars due to arrive in the US in Spring 2024.”
Just 1963 examples of the 911 S/T are produced, with a “limited number” coming to Australia. We’ve contacted Porsche Australia to confirm if they will be implementing a similar scheme locally.
Porsche isn’t the only automaker that has tried to curb flippers.
In the US, General Motors introduced penalties for buyers of the sought-after Chevrolet Corvette Z06, Cadillac Escalade-V and GMC Hummer EV who tried to resell their vehicles within the 12 months after taking delivery.
“You will be ineligible to place vehicle reservations or place a sold order with a dealer for certain high-demand models (as identified by GM),” one agreement warns buyers intending to resell during this period.
“The Bumper-to-Bumper, Powertrain, Sheet Metal, Tire and Accessory coverages under GM’s New Vehicle Limited Warranty will be voided,” it adds.
“Given the impact on warranty coverage, you are also agreeing that, if you choose to sell this vehicle within one year after you have taken delivery, you will communicate the loss of warranty coverage to the transferee.”
This time period was reportedly later lowered to six months.
Actor and wrestler John Cena also had to settle with Ford for an undisclosed amount after the Blue Oval brand sued him for breaching the no-resale clause in the contract for his 2017 Ford GT.
The clause prohibited owners from selling their GTs for 24 months. Ford told Automotive News it donated the proceeds to charity.
But the company confirmed it wouldn’t blacklist buyers who slipped through the system and flipped their GR Corolla for a profit.