Metal expands when heated - contracts when cooling. So the short answer is yes.
The first thing to remember is that you're hearing/experiencing a lot of stuff with the top down that you'd never notice in a coupe or sedan. I used to freak out in my Jeep (top and doors off) because I all of a sudden smelled frying brakes or burning oil. It's never been me (although it's always good to make sure you didn't drive off with the parking brake engaged) - but with the top down you catch whiffs of that stuff.
I think you'll also notice that once the car has been run for awhile you won't hear as many ticks as it sits at a light.
Relax.
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'06 Cayenne Turbo S, Beige Metallic/Tan
Ex - '99 Arctic Silver, Red Interior, Silver Top
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