Porsche’s Carrera GT, the iconic V10 supercar, has been a dormant beast for nearly a year, leaving owners in a state of high-octane anticipation. In April 2023, Porsche issued a recall affecting 489 of the 1300 Carrera GTs built in 2004 and 2005 due to potential catastrophic suspension failure. The recall, identified as campaign number 23V241000, was soon expanded to include all Carrera GTs, with a strong recommendation for owners to cease driving them indefinitely. The reason? Spherical joints connecting the wishbone suspension components could fail from mechanical stress and corrosion.
Owners of these automotive masterpieces, valued around $1.5 million, are now facing a conundrum. Porsche has not provided parts or an estimated time of arrival for repairs, leaving these prized vehicles grounded. Frank Wiesmann, Porsche Cars North America Manager of Product Communications, stated, ‘We regularly monitor the quality of our products… we have recommended that owners not to drive their vehicles until the replacement can be carried out.’ Despite the lack of incidents reported, the risk is too great to ignore.
Carrera GT owners’ response
The response from Carrera GT owners has been mixed. Some U.S. owners continue to drive their cars, while others have parked them, adhering to the stop-use warning. In the UK, the situation is more dire, with insurance companies withdrawing road coverage in response to Porsche’s message. A collector car insurance agent confirmed, ‘Since it’s a safety issue and warned by Porsche and the NHTSA, any claims would not be covered as there is a no use order in place.’
Surprisingly, the potential for catastrophic suspension failure hasn’t dampened the Carrera GT’s collectability or value. Sales have nearly doubled between 2019 and 2022, and even after the stop-use order, values have trended upward. A 600-mile example fetched $1.8 million on Bring A Trailer, while a Fayence Yellow model sold for $1.54 million at RM Sotheby’s.
The recall has caused a slight market stagnation, but experts see it as an opportunity. James Cottingham of DK Engineering believes that ‘once the ‘stop drive’ campaign is resolved… now is the time to consider purchasing one!’ Porsche has committed to replacing the affected components with new ones that boast improved durability, but owners will have to wait until at least the third quarter of 2024 for the remedy.
In the interim, owners are left with a tough choice: to drive or not to drive? For those who choose to keep their Carrera GTs parked, it’s a waiting game filled with both frustration and the hope that once the recall is resolved, they’ll be back on the road, commanding attention and envy with every rev of the engine.
Related posts:
Porsche Carrera GT Stop-Use Order Has Left Owners With An Undriveable ‘Paperweight’
Porsche Carrera GT Owners Still Can’t Drive Their Cars
Porsche Carrera GT Stop-Use Order Has Left Owners With An Undriveable ‘Paperweight’
