Shanghai Porsche 918 Crash
 

First 918 leaving us

Pedal confused :( Nobody hurt thank god but it remains an horrific scene. Dunno about you guys but I'm traumatized

http://thesupercarkids.com/wp-conten..._n-620x620.jpg

http://thesupercarkids.com/wp-conten..._n-620x620.jpg

Source: The Supercar Kids – A Porsche 918 Spyder Has Crashed In Shanghai

http://cdn.carbuzz.com/images2/450000/0/200/450265.jpg

http://cdn.carbuzz.com/images2/450000/0/200/450261.jpg

I saw this on Instagram this morning, it is a sad loss. Hopefully these 918s will hold up better than CGTs have, it seems a large amount of those were wrecked.

What a shame. I'm guessing that will need to go back to Germany if there is any chance of it being fixed. I don't think the local body shop will be able to fix that.

That will make for a kick ass living room couch.

918 crash reminds me of this one


https://www.youtube.com/watch?v=zjPcR2h2QME

Sad, not sure why media reports that it is repairable ;) Certainly not lol.... got to rebuilt the entire car/chassis. Still good for spare parts

Some Intel just came in and he is already getting a new custom-made 918 done. Two in fact: one for him, and one for the GF this time. Can't be stuck without a ride again with that much cash to spend... how embarrassing that can be

http://roa.h-cdn.co/assets/cm/14/47/...13_0616-lg.jpg
^ They are not going to be happy?

This is NOT the first 918 to leave us. The first one was the Canadian car that burnt to the ground back in October (think it was Oct.) at the gas station.

As for replacing it with a "custom made 918"....good luck with that. Not gonna happen. The 918 was sold-out worldwide last month. Porsche ain't making any more after that. His only hope will be rebuilding this one, if even possible, or buying used with a huge price premium.

FYI. Porsche sold about 30 of the 918s in the last few days leading up to the sell out. Pretty impressive.

I thought the 918's were all sold out as of a few weeks ago? Personally unless his last name is Porsche, I don't think he or his gf should get another.

At any rate, they say that they because the engine is in the 'back' that they can rebuild these as long as the carbon fiber tub is intact. However, I think they are forgetting this is a bleeding-edge AWD hybrid. Lots if important bits up front, too!

http://986forum.com/forums/uploads01...1418924559.jpg

all unofficial info (intel lol). You know how NEWS goes from an ear to another! Although with 28million residents... it is still a little town

Didn't even know the 918 was sold-out. Impressive. I could have believe what they are saying on the bbs here if you guys wouldn't have confirmed this. Naïve lol

Can you seriously fix that?? What I read a few minutes ago (again, all unofficial) is fixing the front-end would come to much more expansive than the car itself (i.e. just in parts and labor)

Yeah, I heard there were quite a few left, and then a few weeks later that it was sold out via email from the PCA.

Porsche 918 Spyder sold out, with Americans as top buyers
Bloomberg
Porsche sold the last of the limited-edition 918 Spyder supercar, the German company’s most expensive model, and Americans snapped up more than anyone else. U.S. customers bought 297 of the car, with Germany and China accounting for about 100 vehicles each, the Stuttgart-based unit of Volkswagen AG said in a statement.


Porsche 918 Spyder Sold Out, With Americans as Top Buyers - Bloomberg

Indeed. They sold ~800. Considering this really has to be a billionaire's car, Porsche basically sold one to every other billionaires in the world. Assuming Wikipedia is correct in reporting ~1600 billionaires as of 2014.

Did you just said a hundred in china, where t f are they??? I want want want to see that

There is a CGT near where I live... this car got to have 250k miles and still roar-ing.... hear it every weeks if home windows are open. That's also all I get to see from "Porsche" locally... from time to time :/ A CarreraGT lol

It's a $1,000,000 car BFD. If you have $10 million what's 10% of your net worth? BFD. If you have $100 million what's 1% of your net worth? BFD. This is not just a billionaires toy.

$2,100,000 locally. That's what she pedaled up that tree apparently (RMB13millions lol)

Why wouldn't Porsche build more??$$$?? I mean they're now all about making money...:barf:

10% of your net worth in one car? Not too smart no matter how rich or poor...
Odds are if someone's making those kinds of decisions they're probably making other bad decisions elsewhere (bad investments, over-leveraging, etc.) and won't be rich for too long. Plunking 10% of your dough into a single car? LOL... not even if I had it.:D

As one top 0.001% rich person once told me (from a family that was at least five generations outrageously rich),
"it's not about what you make, it's about what you keep."

hang on you are saying everyone here on 986forum are either millionaire, or not smart?

Just pulling your leg PL.... lol

(at the time my Boxster was over 10% of what I owned if my memory is good... ouch)

I was about to say, be careful with the percentages, I feel that 95 percent of people who own new cars have more money in that car than 10%. Luckily Homes and such hold value, people that sink tons into a new car can only resale it for a fraction of what they payed.

Average American Net Worth = $301,000
Average New car cost = $32,000

I'd say that 10% number is hit a lot more than you think (though likely with a lease). Pretty much by anyone driving around in anything nicer than a new Civic could be above that threshold.

I'm not saying it's smart, but I'd bet there are quite a few 918 owners with less than $100 million in net worth. The average Ultra High Net Worth person ($30 to $80 million) has $20 million tied up in business, $5 million in real estate, and $5 million to play with. (Financial Times study)

Again, maybe not smart, but but I'd say that's your target market: People with $5 million to play with. Some will play the market, some will play with cars.

http://www.ft.com/intl/cms/s/0/dfb64bdc-4d55-11e3-a220-00144feabdc0.html?siteedition=intl#axzz2lmSgY6eN
(edited with the correct link)

I bet those two guys in pic 1 are saying,
"do you think we can fix it before my Dad gets home?"

^^ I was thinking the same thing...the kids borrowed it while dad was away, and boy are they in trouble. Maybe it's the lighting, but doesn't that look like a shady neighborhood for 918?

"Dude, my Dad's got a ********************in set of tools"
J. Spicoli

Sadly I have a friend just like spicoli, I guess everyone has that one friend haha.

Not at all. That car is an investment. (As long as you don't set fire to it or drive it into a tree.) It will appreciate must faster than just about anything else--with the possible exception of a LeFerrari.

lol yea she didn't get to pick up the sexiest looking tree huh. Poor thing.

That happened in the French concession... where almost every freakin properties & bldg are the "former" mansion of him and her this and that etc. Nearly impossible for the gov to demolish anywhere in that place or rebuilt like they do everywhere else in the city.

Shanghai is the same as the New York we know but X15... in everything lol. Believe me the 918 is perfectly fit for that show

There's 0.0003% of it ;)

http://www.luxuryconciergechina.com/...eet-Lights.jpg

One went BBQ here in the US before the one in that country above us who's name must not be mentioned.

I am sure that the wrecked 918 can be repaired. As was reported, as long as the carbon fiber tub is intact, they'll just bolt on a new front subframe, swap over the good parts, and replace the damaged bits.

Sure it will be expensive (in relative terms) but not even close to the value of the car.

Well even if it is 95%, what most people do is really irrelevant if the question is what is the best way I can grow my net worth. If you speak to pre-war generation retirees they think its insane how much the average family over-extend themselves. These pre-war people simply never had a life where the family had two car loans, a loan for a home having more than two bathrooms, multiple credit cars etc. with barely 10% going into savings and retirement or worse 0%.
While financing the purchase of a new car that accounts for more than 10% of your net worth is not remotely a good idea (if you intend to have money when you're retired), at least that car loan is limited to a short loan repayment of 4-6 years relative to the grand scheme of your productive working years that could last 40 years or more.
A home purchase on the other hand if done incorrectly, and that's extremely common, can be far more detrimental to the cause of wealth creation over the course of 30 years of loan repayments. The invention of the 30 year mortgage opened the door for people to buy way more home (dollar wise) than they should be if their goal is to build wealth. It's largely why the U.S. savings rate is barely more than 1% and why the percentage of people who move up from the middle class has been stuck in park. The days when people got rich from their houses is long gone. For the very wealthy in NYC, London, San Francisco or Miami Beach, buying a home can be the best investment they ever made. It really comes down to which incomes are rising and which are stagnant. If home buyers are paying more for homes because the banks and their investors are putting out more money for loans, and not because the incomes of borrowers are rising quickly, then that's a recipe for a bad investment. But a fantastic recipe for the person putting out the loan however since tens of Millions of people are only too willing to over-leverage themselves simply to get back slightly more than they put in after 30 years.
As Roger Lowenstein once said (loosely), it's not the merits of the idea that can burn you as much as the leverage you put behind it.


I consider anything bought that can be resold to be investment. You're choosing to put money behind one thing instead of another. Simply because something is an investment does not mean it's a good investment if the expectation is a profitable return. If a 918 buyer's rationale for committing more than 10% of their net worth into a single car is primarily based on it being an investment, due to the cars exclusivity, then that's a pretty poor decision as far as risk. For one thing, it's a single play. You are violating the basic principle of never committing more than a few percentage points into a single investment selection. Now you're simply up against the averages with no compelling reason to take on that degree risk to swing for the fences. Now if you're using 10% of your net worth to start a business well that's another matter. I think most people agree that buying a million dollar car like a 918 or a P1 is an indulgement pure and simple. That it represents more than 10% of your net worth makes it an impulsive/emotional indulgement. But for the record I wish I had these problems. :D

Based on previous supercar financial performance, there is every reason to believe that car will appreciate faster than just about anything else.

I know a guy that can fix that with hammer and a screwdriver.
Note to self: Get my net worth to $10M so I can spend 10% on a 918
I'll let you guys know when I get there.

I get the feeling you are out of touch. Think about the income of the average worker and the cost of new cars that can be $20-$50k. At ten percent of their income that would suggest they are earning $200k-$500k. That's way above average income for most folks. But, that's what they have to pay to purchase a new car. People are spending way more than 10% of their income to buy a car everywhere...

you're talking average income. I'm talking about what is owned minus what is owed.
two very different things.

Also, a car does not represent the same thing for a driver earning the average income and someone in the top 0.01%.
The average guy needs it to get to work, it's not a speculative play or toy. Living expense vs. (supposed) investment.

I'm so freakin poor, wage slave, have to work extra hours and all... unsubscribed

U got room for a passenger?

Relax, all right? My old man is a television repairman, he's got this ultimate set of tools. I can fix it.