Porsche is the first manufacturer to get on board!
I was discussing the effect of purchasing power pairity last night with a colleauge. This is a pretty serious issue. It was noted that through teh first quarter of this year 62,000 vehicles were brough into Canada. That figure is sure to rise in the 2nd half of the year. In the past, buying a US vehicle imported to Canada was seen with disdain. Customers were always skeptical. I think the tide has turned on that issue. It would seem that consumers now wear their US cars as a badge of honour. They overcame the system, saved money, and are proud of it. I am one of those people. I picked bought a US import in July, a 2004 bought at auction in the US and brought up to Canada. The warranty is still in effect, it's never seen a winter, and I saved thousands over buying the same car here.
As with anything, the money saved is directly a function of the cost. Porsche quickly adusted their prices. I would imagine they were already feeling the pinch in the showrooms. Most Porsche customers would be pretty astute. They would realize that they could save $10's of thousands of dollars buying in the US and importing or having a broker do it for them. As a result, I would imagine that Porsche showrooms were pretty bare. I know for a fact a 2007 Porsche Cayman is $20,000 less expensive BRAND NEW in the US vs. Canada. That is a rediculous amount of money. Buy a one year old one and save even more! As a result.
I would imagine that most luxury car manufacturers will have to do something, quick. October should be an interesting month.
