Taxation and dictatorship seem to be perfect bedfellows benefitting the dictator, but what few people know is that Salazar, Portugal’s dictator, didn't use his power for his own benefit as several photos of him with holes in the shoes. He even turned down a Mercedes Benz offered as a gift on the grounds that it was too "flashy.” You may think he in turn preferred his country and people to prosper, but the sad part was that most were simply too poor to have a car.
In the 80's, we entered the European Union and things got better with regards to Porsche cars.
So well-known was Futre’s purchase of a 944 that whenever I need to explain to someone who doesn't really know the brand what car I have, I always say “I have a Futre’s Porsche." As other public figures began buying 944’s, the recognition of the model increased.
Because they were cheap abroad, people many times painted them in more "sexy" colours, black or red. Also the case with mine; the platinum metallic shade it was born with is now black.
On the flip side, new Porsches were being sold at a steady rate in higher numbers with each passing year as the graph below shows.
Apparently, these imported cars weren't paying "enough" taxes and now the taxes are allotted for "eco-friendly" purposes which means we must pay as much taxes those on new cars ones or more because of co2 emissions. For example if someone wants to register a 911 from 90's (964/993), they'll end up paying 20.000€ or more in taxes plus an annual fee of 500€ minimum for road tax; even if they don't drive it! It's insane; many people have project cars unfinished because of this. On the other hand, if you have the “time” to buy a 918, you have an eco-tax reduction; so we bought 4! It was impossible to resist the bargain...I'm joking! The minimum the cost rises above 800,000 € for that 918.
So, car prices are linked to price of their cost when new as well as on the second hand market.
Not having many transaxles here, being impossible to import more and being a brand whose new cars are very expensive (911 starts at 100,000 €) prices got lower but not as much as in other locations. Our prices still double those in the USA or UK. You can't find a decent 924 under 5.000€. 944 Turbo II or S2 Coupe, which are rarely seen on the second hand market, are being exported since they're cheaper for other countries to purchase; we've already lost the only 944 Turbo Cup I knew to Belgium.
Going to the wrong hands, well...I think that´s universal. We've even rescued a 924 from a real Gypsy camp! Many end up being parted and that not only takes more cars off the road, it increases their value which in turn increases your initial investment.
The good news is that all cars are expensive and for this kind of money you can't get a better machine in the transaxle family. Being a sunny country, rust isn't an issue, we can still find mechanical labor at reasonable prices, we can source parts all over the world. The upside is that we're a small and beautiful country with lots of nice roads to drive in; we've recently gotten an award for having some of the best roads to drive on in the world. What better place for a transaxle to be?
I hope you all enjoy this small piece of history, stay tuned for my next article about my own Porsche history.