• Apr 12th 2010 at 8:58AM
  • 16
Put this down as a public service announcement for rich people: A strong loonie is what our neighbors to the north have all been waiting for. Thanks to the loonie's climb up the currency value charts, Porsche has dropped prices of its line by two percent. A Boxster is suddenly $4,000 loonies cheaper than a few months ago, at $55,600 ($55,467 U.S.) vs. $59,600 ($59,457 U.S.), and the number-one-selling Cayenne is now $54,200 ($54,070 U.S.). There's probably no better time to convince your wife to bring a 911 Turbo home – after all, spend more, save more.

[Source: Globe and Mail]

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    • 1 Second Ago
      • 5 Years Ago
      Ive been living in my own little bubble for the past few months and found out the hard way about the strong CDN dollar. Wish it was back to 1999-2001 when I could almost get 1.5x from USD/BMD to CDN :(
      • 5 Years Ago
      Will 2% really help much with our 13% soon to be Harmonized Ontario sales tax?

      • 5 Years Ago
      Now it's time for the rest of the manufacturers to follow suit.
      • 5 Years Ago
      ummmmm how the hell does 2% equate to 4000$ on a 50,000$ car!? Somebody over at autoblog more than failed math class.

      If this were true, 100% would equal 50x$4,000.... hopefully at least one person can do math.
      • 5 Years Ago
      Keep in mind that back in 1999, when the US dollar was 1.5x CDN, our Canadian car prices were nowhere near 1.5x US prices. It worked in our favour back then... car manufacturers had less margin on Canadian market autos. Now the pendulum has swung the other way... and we're not seeing prices at par -- like we do the dollar. The manufacturers are seeing more margin on Canadian autos as a result.

      Now, if you're looking to purchase a pre-owned US-based Porsche, the dollar is really workin' for you!
      • 5 Years Ago
      Every automaker needs to make this adjustment or they will lose sales to the south, especially the luxury brands.
        • 5 Years Ago
        Sure, there are some added costs on both sides of the border that way. I am not saying we need a direct 1 to 1 price with our neighbors. However, when you can easily save thousands while having easy access to the border for warranty work... it hurts our dealers, and the Canadian sales offices of our manufacturers. Those that take the time to look into it often find it is worth their time. The goal is to adjust the price in Canada enough to eliminate the benefit and keep the buyer in the home market.
      • 5 Years Ago
      The Aussie dollar's been in excellent shape for ages now, so where are our cheaper Porsches...?!

      Ah, who am I kidding, barring a lottery win I see myself behind the wheel of a Porsche anytime soon...
        • 5 Years Ago
        My guess is that since you are on an island it is hard to pop across the border and snap up a new ride.

        I hear ya on the lottery bit, that $5000 dollar adjustment makes zero difference in my odds of picking up a new Porsche as well.
      • 5 Years Ago
      And that's even more depreciation against my '04 Boxster. But I'm not too worked up about it, I'll probably just keep the car forever.
      • 5 Years Ago
      Four thousand dollars loonies?

      Leave out the "$" if you're going to specify the "currency" afterwards. It's the same as writing $4000 dollars, which I've seen on this site too. Bah.

      Being Canadian, this will be more relevant to me than most Americans... except there's no way in hell I can afford a Porsche so I suppose it's just as irrelevant.
      • 5 Years Ago
      I guess it's a start, but really, 2% is trivial when you consider the existing price disparity. I get that they are simply selling their cars at whatever price the respective (US vs. Canadian) markets will bear, but still, being so close to one another, and with our currencies at parity, it's a little hard to take. Prices below from Porsche's US/Can websites taken today:

      Cayman S: US$61,500 vs. C$77,500
      Cayenne (base): US$45,500 vs. C$56,700
      Cayenne Turbo S US$126,300 vs. C$152,200

      Porsche is not alone here, it's all manufactures. Some variances are minor (think entry level cars), while other variances are equal to the cost an entry level car (or two).
        • 5 Years Ago
        CA obviously doesn't understand the US and Canada car market
        • 5 Years Ago
        CA, sales taxes are charged separately here. Canadians face massive markups in MSRPs here with little to any justification.
        • 5 Years Ago

        I'm not sure what you mean when you say taxes account for the difference in prices. You cite the VAT (a consumption tax) but the prices I've quoted are MSRP (i.e. a price prior to any consumption tax like VAT, HST, etc).

        If you mean corporate tax rates, then you're implying that it's more expensive to operate in Canada than it is in the US (higher tax burden). I don't think that's the case, and while I may be wrong, I think it's a few points cheaper (from purely a corporate tax perspective) to operate here.

        You could have meant duty, but I'm really not sure what the duty rates are in the US. In Canada, if it's not built here (or in the US or Mexico - NAFTA), then it's hit with an additional 6% duty. That could account for some of the disparity assuming the US equivalent is lower.

        I really do believe the manufacturers are able to sustain these higher prices mainly because Canadians continue to buy them.

        +1 on death and taxes though. :)
        • 5 Years Ago

        Automakers in Canada aren't "selling their cars at whatever price the respective markets will bear"... in fact they don't see any of that extra "variance".

        It's always been, and will continue to always be, taxes. It's like that in most other countries, even Germany with the 18%+ VAT.

        One thing's for certain: government will always want their "share". To vary degrees, big government is always socialist. It doesn't matter what flag they hide behind. Death and taxes, my friend.
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