A 992.2 Porsche 911 GT3 with 605 miles on its odometer is for sale at a dealership in Iowa, listed at $349,995. It is certified pre-owned, meaning someone bought it new and it is back. As of this week, no one has bought it a second time, and nearly 200 others like it are waiting at dealerships across the country.
For most of the last five years, a new GT3 was among the hardest cars in America to buy at sticker price. Dealers handed out allocations to favored customers and charged tens of thousands of dollars in markups for the rest. That market is now running in reverse. The cars are piling up on dealer lots, and they are staying there.
In January, Porsche's own dealer inventory website listed 155 992.2 GT3s and GT3 Tourings, new and certified pre-owned. In July it listed 159. On Monday it listed 196, according to Car Nerd's tracking. The Touring count alone is up 58 percent since January.
The GT4 RS shows what absorption looks like. Over the same period its count on Porsche's site fell by more than half, from 72 to 28.
If buyers were absorbing the GT3 supply, those totals would be falling. Instead they have risen, as more nearly new cars come back onto dealer lots as certified pre-owned listings.
