With sales of its bread-and-butter sports cars down sharply, Porsche Cars North America is giving its dealers the top item on their wish list - a certified used-vehicle program.
Porsche is the last luxury brand to launch a certified program, which dealers consider essential for protecting residual values and attracting buyers. Last year, 1.28 million certified used vehicles were sold in the United States, up 87 percent over 2001, according to the Automotive News Data Center and Autodata Corp.
Details of the program, which started this month, were disclosed by dealers. Porsche headquarters in Atlanta refused to comment.
Under the program, a 4- to-8-year-old car no longer under original warranty would be certified for another two years and up to 100,000 miles. Vehicles still under the new-car warranty are guaranteed up to six years, or 100,000 miles.
Porsche's warranty on new cars is 4 years/50,000 miles.
The cost to dealers ranges from $1,495 for a Boxster, Porsche's cheapest sports car, to $1,595 for the Cayenne SUV.
Dealers are delighted with the program. "We've been begging Porsche for years to get into this business," says Gary Ackerman, owner of Gaudin Jaguar-Porsche-Aston Martin in Las Vegas. "It is extremely important for resale value and for long-term residuals on our vehicles."