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Discussion Starter #21
It's torture. I've gone to see the car a few times from behind a fence lol. They Finance manager was saying April 8, but now the government bumped dealerships off the essential services list. So I doubt that April 8 is going to happen.
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Torture indeed! I think it is adorable that you go to visit your car from behind the fence. i would (and may ultimately have to) do the same, except with a tear or two in my eye. :cry:
 

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It's torture. I've gone to see the car a few times from behind a fence lol. They Finance manager was saying April 8, but now the government bumped dealerships off the essential services list. So I doubt that April 8 is going to happen.
Torture indeed! I think it is adorable that you go to visit your car from behind the fence. i would (and may ultimately have to) do the same, except with a tear or two in my eye. :cry:
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Do you know if your Macan has left port yet?
 

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Thanks! I assume the dealers have 30-60 days to pay. It sucks that they haven't updated you Expected and Actual Dates
The manufacturer charges the Dealer's floor plan when unit is invoiced. Manufacturer will not ship a unit to the dealer until it is paid. Dealer pays back flooring company (bank). Yes, flooring company charges interest. There is no 0% loans in this transaction.
The manufacturer does not give cars to the dealer to put them on the lot. The bank owns all the cars on a dealer's lot. Do the math sometime, 20 units with average price of 50K adds up quick. 2,5,10M in inventory and your paying interest every month on that loan. Those greedy dealers. ha
 

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Discussion Starter #24
The manufacturer charges the Dealer's floor plan when unit is invoiced. Manufacturer will not ship a unit to the dealer until it is paid. Dealer pays back flooring company (bank). Yes, flooring company charges interest. There is no 0% loans in this transaction.
The manufacturer does not give cars to the dealer to put them on the lot. The bank owns all the cars on a dealer's lot. Do the math sometime, 20 units with average price of 50K adds up quick. 2,5,10M in inventory and your paying interest every month on that loan. Those greedy dealers. ha
Thanks for the information. So the table says the dealer is invoices after PDI when the vehicles leave the port. Porsche definitely has an incentive to invoice as soon as possible, but if the people at the port are short staffed or just taking their sweet time, I don’t think Porsche has any leverage.
 

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The manufacturer charges the Dealer's floor plan when unit is invoiced. Manufacturer will not ship a unit to the dealer until it is paid. Dealer pays back flooring company (bank). Yes, flooring company charges interest. There is no 0% loans in this transaction.
The manufacturer does not give cars to the dealer to put them on the lot. The bank owns all the cars on a dealer's lot. Do the math sometime, 20 units with average price of 50K adds up quick. 2,5,10M in inventory and your paying interest every month on that loan. Those greedy dealers. ha
The bank is Porsche Financial Services and the dealers only get charged with interest if the car is on the lot at the end of the month. I'm pretty sure PFS is going to give a break to the dealerships that are shut down and can't deliver cars.
 

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The bank is Porsche Financial Services and the dealers only get charged with interest if the car is on the lot at the end of the month. I'm pretty sure PFS is going to give a break to the dealerships that are shut down and can't deliver cars.
I would not make that bet. Manufacturer's can be brutal and I don't think all Porsche dealers use PFS for flooring. Sure, manufacturer's are trying to help dealers out at this time and there will be some dealers (maybe not Porsche) that go away. I know of a couple small town Honda dealers that will be done after this.
 

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Discussion Starter #28
As my car was delivered to a dealership all the way across the US when I looked at the fine print I asked them to remove the nitrogen and replace this with real US air for the normal local cost of zero.
LOL. I needed that chuckle!
 

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Mike1117
I did not want to go back and forth with you. A lot of people don't understand the car business and think all dealerships make money financially. The evidence was 10 years ago during the Senate hearings when those buffoons thought GM, FCA and Ford built cars and just sent them to a dealer to sit on a lot. Unfortunately, smaller dealerships will go out this time around.
Motor Vehicles is closed in many states and are not processing paperwork. This doesn't make delivery any easier.
Again. this is not like Amazon. There are rules and regulations with motor vehicles.
 

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Discussion Starter #30
Mike1117
I did not want to go back and forth with you. A lot of people don't understand the car business and think all dealerships make money financially. The evidence was 10 years ago during the Senate hearings when those buffoons thought GM, FCA and Ford built cars and just sent them to a dealer to sit on a lot. Unfortunately, smaller dealerships will go out this time around.
Motor Vehicles is closed in many states and are not processing paperwork. This doesn't make delivery any easier.
Again. this is not like Amazon. There are rules and regulations with motor vehicles.
I appreciate the civil discourse between you and @Mike1117 and am not the only one learning here. For example, I didn’t know what floor charges were. So I’m sure May will join me in saying “feel free to prove us with information.
 

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No worries. Mike is obviously it the business. Cashflow is a big issue. Think about a Ferrari dealership where there are a couple of cars waiting to be picked up. Customers are busy and out of the country for a few weeks. Let's say the repair orders are for 40,000 each. Customers wanted service and some accessories put on. That's 80K sitting on your books and you have to pay the tech and parts bills.
 

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Discussion Starter #32
No worries. Mike is obviously it the business. Cashflow is a big issue. Think about a Ferrari dealership where there are a couple of cars waiting to be picked up. Customers are busy and out of the country for a few weeks. Let's say the repair orders are for 40,000 each. Customers wanted service and some accessories put on. That's 80K sitting on your books and you have to pay the tech and parts bills.
My dealership (Foreign Cars Italia) is a Ferrari, Maserati, Aston Martin, and Porsche dealer. If your head ever gets big and you start to think you’re a super success, go to this place and you will be brought back to earth quickly!!! ? The Ferraris are on a 3 ft stage at the front of the store. You have to walk back past the restrooms to enter the Porsche showroom.
 

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Porsche is in fact helping out their dealerships.

Porsche is a very profitable company and the US is their biggest market. With only 192 US dealerships and a high cost to open a new dealership, they can't aford to let the US dealers to fail. Mass market car companies don't have as much incentive to help out their dealerships when they have thousands of US dealers.

Also, not sure about other states, but in NY the dealership doesn't need the DMV to be open. They are authorized to issue temporary registrations and have a stock of new plates if the buyer is not transferring plates.
 

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Discussion Starter #34
Porsche is in fact helping out their dealerships.

Porsche is a very profitable company and the US is their biggest market. With only 192 US dealerships and a high cost to open a new dealership, they can't aford to let the US dealers to fail. Mass market car companies don't have as much incentive to help out their dealerships when they have thousands of US dealers.

Also, not sure about other states, but in NY the dealership doesn't need the DMV to be open. They are authorized to issue temporary registrations and have a stock of new plates if the buyer is not transferring plates.
Thank you for sharing this! My dealership informed me that Porsche is offering 3-months no payments for financing @2.49% in addition to their leasing promotions.
 

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As of today, my dealership is allowing customers to enter the showroom to take delivery. I used to buy all our cars from out of state and the dealer would ship them to my front door. It is super convenient to do everything from the comfort of my own home, but I will say that I would miss pulling into the parking lot of the dealership and scanning the lot for my new car. I will never miss having to wait hours on a busy Saturday for the finance manager.
 

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As of today, my dealership is allowing customers to enter the showroom to take delivery. I used to buy all our cars from out of state and the dealer would ship them to my front door. It is super convenient to do everything from the comfort of my own home, but I will say that I would miss pulling into the parking lot of the dealership and scanning the lot for my new car. I will never miss having to wait hours on a busy Saturday for the finance manager.
I was a little surprised to see my dealership (South Shore on Long Island, NY) is now taking appointments to come into the showroom for sales.
 
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