In the early 1990s, German carmaker Porsche was facing a financial crisis. The company had gambled on an expanding line-up of front-engined, transaxle sports cars, but this gamble had not paid off, and the brand’s bank balance was in a poor state.
Global sales had been in steady decline since the mid-1980s, when 50,000 Porsche cars were sold. By 1993, worldwide sales had dropped to just 14,000, due to a weak global economy and outdated production processes.
A lifeline came in the form of a contract with Mercedes-Benz to produce the V8-powered W124 500E E-Class, which allowed Porsche to keep its production lines running. However, this was not a long-term solution, and they needed to find a new way to stay afloat.
In 1993, Wendelin Wiedeking became the new CEO of Porsche and had firm ideas on how to fix the company. Improving production efficiency was a top priority, and he contracted a Japanese consultancy firm to help achieve this goal.
The management team, including Dieter Laxy and Horst Marchart, identified that the Porsche line-up of cars did not share many common parts, which increased manufacturing costs. They decided to scrap the planned four-door Type 989 and instead conceived a smaller, cheaper-to-build car that utilized many of the 911‘s existing components.
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The concept was the Boxster, a mid-engined roadster that made Porsche ownership more accessible. The Boxster shared around 40% of its components with the 996 generation 911, which helped to rationalize production and shore up the future of the company.
The Boxster was launched in 1996 and was a global success, with over 164,000 units sold between 1996 and 2004. This success paved the way for the development of a new car, the Cayman, which was essentially a Boxster with a roof.
The Cayman story starts officially in 2005 with the launch of the first-generation model for the 2006 model year.
A 2007 Cayman S is currently for sale, with a price tag of $69,990. The car has a scant 82,400km on the odometer and is finished in classic Porsche Guards Red. It comes with a complete Porsche service history and all its original documentation, making it an attractive option for those looking for a special edition vehicle.
