The 2025 price hierarchy, the rise of the Turbo Look models, investment potential and a forecast to 2030 for the third generation of the 911, supplemented by 721 documented sales from the MarqueScope SOLD archive (as at June 2026).
964 Carrera 2 and Carrera 4 price trends, 1989-1994
The revolutionary transitional generation
The Porsche 964 was built from 1989 to 1994 and was the third generation of the legendary 911. Revolutionary though the overhaul was, it kept the classic 911 silhouette while bringing in a great deal of new engineering.
With more than 85 per cent new components compared with its predecessor, the 964 introduced a long list of firsts: power steering, ABS, coil springs in place of torsion bars and a rear spoiler that deploys automatically.
The main variants: The drivetrain choice was Carrera 2 (rear-wheel drive) or Carrera 4 (all-wheel drive), the body choice Coupé, Targa or Cabriolet, and the gearbox choice a five-speed manual or the newly available Tiptronic automatic (Carrera 2 only). A total of 63,762 cars were built, which makes the 964 the rarest 911 generation.
June 2026 update: The historical picture is supplemented by 721 documented sales from the MarqueScope SOLD archive (October 2025 to June 2026). Figures up to 2025 are average prices for well-kept cars, the 2026 figures are median sale prices; this change of method is flagged in every table and chart.
Historical price trends 2012-2025 (average prices) with June 2026 median sale prices per model cell
63,762
Cars built in total
721
Documented sales in the MarqueScope archive (as at June 2026)
€199,900
Median sale price of the 964 Speedster, the most expensive Carrera cell
+75,000 €
Turbo Look premium: Carrera 2 Cabriolet Turbo Look against the standard Cabriolet
Price trends by body style
Chronology & price hierarchy
How prices have moved over time
2012-2026
2012-2016: steady, moderate price growth across all model variants
2016-2017: a sharper rise, most pronounced on the Turbo Look models
2017-2023: steady, solid growth across all variants
2023-2025: a slight decline or a flat market, which points to consolidation
June 2026: the median sale prices show a split picture: the Carrera 2 Coupé and both Targa cells above the 2025 level, the Carrera 4 and the standard Cabriolets well below it, while the Turbo Look cars and the special models are climbing strongly
Market analysis of the gearbox choice
Manual versus Tiptronic
Collectors and enthusiasts clearly prefer the manual gearbox; the June 2026 sales data puts a measurable figure on the gap for the first time
Carrera 2: a median of €109,700 for confirmed manuals (102 sales) against €89,900 for the remaining sales (84 sales), a gap of €19,800 or roughly 22 per cent
The old rule of thumb of a 10-20 per cent manual premium is confirmed at the top of that range, and on the 964 slightly exceeded
Price hierarchy (May 2025) and median sale prices (June 2026)
Model variant
Approx. market value (May 2025)
Median sale price (June 2026)
Sales
Turbo Look Cabriolet
€132,000
€154,964
13
Turbo Look Coupé
€125,000
€156,750
8
Carrera 4 Cabriolet
€102,000
€77,950
60
Carrera 4 Coupé
€100,000
€89,000
175
Carrera 4 Targa
€95,000
€104,825
14
Carrera 2 Targa
€93,000
€99,850
38
Carrera 2 Cabriolet
€93,000
€79,957
172
Carrera 2 Coupé
€92,000
€99,700
186
May 2025 figures: 911Finder market analysis (average prices for well-kept cars). June 2026 median sale prices: MarqueScope SOLD archive (Oct. 2025 to June 2026). How the 2026 cells map across: Turbo Look Cabriolet = "964 Carrera 2 Cabrio WTL", Turbo Look Coupé = "964 Carrera 4 WTL" (all Coupés); the Coupé rows are platform labels without a body suffix and are predominantly Coupés. The gap between the two columns reflects not only the market but also the change of method, from an average price to a median sale price across all conditions and mileages; the Cabriolet medians in particular come out markedly lower as a result.
Price trends by model variant
Turbo Look, Carrera 4 and Carrera 2
Carrera WTL ("Turbo Look") +
Highest value growth: the strongest and steadiest appreciation of any 964 variant
Effect of the body style: the Turbo Look Cabriolet is worth roughly 5-7% more than the Turbo Look Coupé (as at May 2025; the June 2026 median sale prices are effectively level at €154,964 against €156,750)
Distinguishing features: the wider body taken from the 964 Turbo, with its characteristic flared arches and Turbo bumpers, commands markedly higher regard
Rarity: low production numbers are a major driver of value
June 2026 sales data: Carrera 2 Cabriolet Turbo Look €154,964 median (13 sales), Carrera 4 Turbo Look €156,750 (8 sales), some €75,000 above the standard Cabriolet
Carrera 4 (all-wheel drive) +
Consistently higher market values than comparable Carrera 2 models (average figures up to May 2025; the June 2026 median sale prices put the closed Carrera 2 ahead of the Carrera 4: €99,700 against €89,000)
The Carrera 4 Cabriolet as the most valuable standard variant (Turbo Look aside, as at May 2025; in June 2026 the cheapest standard cell at a €77,950 median sale price)
The Carrera 4 Targa is the most expensive standard cell in June 2026 at a €104,825 median, though on only 14 sales
Built in smaller numbers than the Carrera 2
Technically the more advanced car, with all-wheel-drive technology derived from the 959
Carrera 2 (rear-wheel drive) +
Lower market values than the Carrera 4 despite the purer driving experience (up to May 2025; in June 2026 the Carrera 2 median of €99,700 sits above the Carrera 4 at €89,000)
Very small price differences between the body styles (up to 2025; the 2026 median sale prices separate the Coupé and Targa at roughly €99,700-99,850 clearly from the Cabriolet at €79,957)
Built in larger numbers than the Carrera 4
Around 100 kg lighter than comparable Carrera 4 models
Documented sales: MarqueScope market data (as at June 2026)
The basis is the MarqueScope SOLD export of 11 June 2026: 1,088 recorded 964 sales (October 2025 to June 2026, de-duplicated). 180 records without a usable price and 6 sales below €15,000 were excluded, leaving 902 in the analysis. Of those, this page looks at the 721 Carrera sales; the Turbo, RS, RSR and Cup cells are covered by the reports on the 964 Turbo and 964 Carrera RS. Prices are the last recorded asking price of the car that sold.
Model
Sales
Median
Range
Median km
Days on market
Carrera 2 (rear-wheel drive)
964 Carrera 2
186
€99,700
€48,500 - €476,175
140,808
14 days
964 Carrera 2 Targa
38
€99,850
€59,900 - €194,900
132,750
36 days
964 Carrera 2 Cabriolet
172
€79,957
€32,400 - €300,000
122,101
26 days
Carrera 4 (all-wheel drive)
964 Carrera 4
175
€89,000
€44,800 - €357,000
140,900
18 days
964 Carrera 4 Targa
14
€104,825
€84,950 - €357,000
156,616
34 days
964 Carrera 4 Cabriolet
60
€77,950
€48,000 - €219,000
148,662
42 days
Turbo Look and special models
964 Carrera 2 Cabrio WTL
13
€154,964
€109,900 - €299,964
106,930
41 days
964 Carrera 4 WTL (Coupé)
8
€156,750
€93,500 - €169,000
131,677
36 days
964 30 Jahre 911
13
€199,000
€134,964 - €289,500
93,200
14 days
964 Speedster
41
€199,900
€149,950 - €285,993
59,786
29 days
Platform labels without a body suffix ("964 Carrera 2", "964 Carrera 4") denote predominantly Coupés. The "964 Speedster" row brings together three platform spellings ("964 Carrera 2 Speedster Cabriolet": 31, "964 Speedster Cabriolet": 9, "964 Speedster": 1 sale); the median is calculated from all 41 raw records. Some of the range maxima come from conversions and full restorations: the Carrera 2 maximum of €476,175 is a backdate conversion with 540 km, the maxima for the Carrera 4 and Carrera 4 Targa (€357,000 each) and for the Carrera 2 Cabriolet (€300,000) are fully restored cars with 500 km each; these outliers have no effect on the medians. Obvious relistings of the same car (identical model, identical mileage, identical price under a new URL) count as one sale each; that applies among others to the €300,000 Cabriolet, which was recorded three times. The America Roadster is documented with a single sale (€139,000, 97,100 km) and is not shown as a row of its own. The smallest cells (Carrera 4 WTL: 8, Carrera 2 Cabrio WTL and 30 Jahre: 13 each, Carrera 4 Targa: 14 sales) carry only limited weight.
For dealers & professionals: This table is an extract. The full MarqueScope dashboard gives you active listings, the complete SOLD archive, days on market, price deltas and options scores for 8 premium marques, turning 3 hours of research into 5 minutes. Discover MarqueScope →
Median sale prices by variant (June 2026), Turbo Look and special models shown separately
What the June 2026 sales data shows +
The Tiptronic discount is unusually large on the 964: confirmed Carrera 2 manuals achieve a €109,700 median (102 sales) against €89,900 for the remaining sales (84); on the Carrera 2 Targa it is €103,964 against €85,964. Only a car the listing explicitly describes as a manual counts as one here; the remaining sales take in Tiptronic cars and listings with no confirmed gearbox
The cross-check on the Carrera 4 supports the finding: €89,964 (107 confirmed manuals) against €84,932 (68 remaining), which is effectively parity. The Carrera 4 was never offered with Tiptronic from the factory, so its "remaining" sales are overwhelmingly unconfirmed manuals; the large gap on the Carrera 2 is therefore genuinely a gearbox effect
A Turbo Look premium of roughly €75,000: the Carrera 2 Cabriolet in factory Turbo Look achieves a €154,964 median against €79,957 for the standard Cabriolet, almost double; the Carrera 4 Turbo Look sits at €156,750 (8 sales)
The Speedster is the most expensive Carrera cell: a €199,900 median on 41 sales, median mileage 59,786 km, the maximum €285,993
The anniversary model "30 Jahre 911" (a Carrera 4 with the Turbo Look body, limited to 911 cars) follows at a €199,000 median on 13 sales and a median of just 14 days on the market; the cheapest example (€134,964) had covered 300,000 km
The Targa remains the niche: both Targa cells together account for only 52 of the 721 sales. The Carrera 4 Targa leads the standard models at a €104,825 median (14 sales, median mileage 156,616 km), while the Carrera 2 Targa at €99,850 is level with the Coupé
Source: MarqueScope market monitoring, export of 11 June 2026. More at marquescope.de
Investment potential
Potential ranking of the variants
High potential
The Turbo Look models
Turbo Look Cabriolet: the rarest variant, with the strongest value growth
Turbo Look Coupé: a combination of the sporting look and limited numbers
Medium potential
The top Carrera 4 variants
Carrera 4 Cabriolet: up to 2025 the most valuable non-Turbo-Look variant; in June 2026, however, the cheapest standard cell at a €77,950 median sale price
Carrera 4 Coupé: technically demanding, with solid value growth
Moderate potential
Targa and Carrera 2
Carrera 4 Targa: a rarer variant with steady demand, and in June 2026 the most expensive standard cell at a €104,825 median (14 sales)
All Carrera 2 variants: similar price movement across Coupé, Targa and Cabriolet up to 2025; the 2026 median sale prices separate the Coupé and Targa (roughly €99,700-99,850) clearly from the Cabriolet (€79,957)
Influencing factors to 2030
Supporting and limiting
Supporting: a generational shift, with rising demand from buyers who grew up with the 964
Supporting: electrification is raising the regard for analogue, purist driving machines
Supporting: low production numbers and limited availability of well-preserved cars, plus its position as the last "classic" 911 generation with upright round headlights
Limiting: rising restoration costs and environmental rules for classic cars in city centres
Limiting: ageing engineering and the maintenance it demands, the wider economy and the general level of interest rates
Recommended actions
Recommendations for buyers
For investors +
Prioritise the Turbo Look models: the consistently strong appreciation of the "Turbo Look" variants makes them the most attractive investments
Originality and documentation: fully documented cars with an unbroken history achieve the highest prices
Rare specifications: unusual colour combinations, special equipment or limited series offer additional upside; the Speedster (€199,900) and the 30 Jahre 911 (€199,000) lead the 2026 median sale prices
Carrera 4 over Carrera 2 no longer holds without qualification: the average figures up to May 2025 put the all-wheel-drive cars ahead, but in the June 2026 median sale prices the closed Carrera 2 leads at €99,700 against the Carrera 4 at €89,000
Prioritise confirmed manuals: on the Carrera 2 the measured gap to the rest of the market is €19,800 (a €109,700 median against €89,900)
For enthusiasts +
Open-top standard 964s as the way in: the Carrera 4 Cabriolet (€77,950) and the Carrera 2 Cabriolet (€79,957) are the cheapest cells in June 2026
Watch the condition: favour mechanically sound cars with no deferred maintenance, even at a higher purchase price
Favour the manual: more driving enjoyment and better value retention than the Tiptronic (a gap of roughly 22 per cent on the Carrera 2 in the 2026 medians)
A Classic check is worth having: a Porsche Classic certificate raises value over the long term and documents the original specification
Buying recommendation by budget
Budget
Recommended
Reasoning
up to €80,000
Carrera 4 Cabriolet / Carrera 2 Cabriolet
The cheapest open-top 964: median sale prices of €77,950 and €79,957 respectively, usually with higher mileages
€80,000-€100,000
Carrera 4 Coupé, Carrera 2 with Tiptronic
Carrera 4 median €89,000; Carrera 2 sales without a confirmed manual gearbox, €89,900 median
€100,000-€120,000
Carrera 2 Coupé/Targa as a confirmed manual, Carrera 4 Targa
Manual medians of €109,700 (Coupé cell) and €103,964 (Targa); Carrera 4 Targa €104,825
€120,000-€170,000
Turbo Look models
Carrera 2 Cabrio WTL €154,964, Carrera 4 WTL €156,750; thin supply (13 and 8 sales respectively)
over €170,000
Speedster or 30 Jahre 911
Special models with collector status: medians of €199,900 and €199,000
The budget bands follow the median sale prices from the MarqueScope SOLD archive (Oct. 2025 to June 2026). Individual cars can sit well above or below them depending on condition, mileage and history.
The 964 Carrera model bible
The complete knowledge: the Investor Dossier & Technical Compendium, in German
Detailed expert knowledge on the 964 Carrera 2 and Carrera 4: weak points, inspection checklists, production figures, value-adding options and price forecasts.
After the steady rise from 2012 to 2023 and the current flat market or slight correction, more moderate growth looks likely for the years ahead:
The key points of the forecast +
Annual appreciation of 3-5 per cent looks realistic for most variants
The price spread between the model variants is likely to widen further
The Turbo Look models are expected to keep posting the strongest appreciation
As the cars age, the quality of restoration work and its documentation will matter more
Positive influencing factors +
A generational shift: rising demand from buyers who grew up with the 964
Electrification: growing regard for analogue, purist driving machines
Low production numbers: limited availability of well-preserved cars
Its position as the last "classic" 911 generation with upright round headlights
Limiting factors +
Rising restoration costs
Environmental rules for classic cars in city centres
Ageing engineering and the maintenance it demands
The wider economy and the general level of interest rates
The balance
Conclusion
The Porsche 964 has established itself as an important milestone in the evolution of the 911 and shows solid value growth. The current analysis, however, reveals a far more nuanced picture than has been assumed:
The key statements
The Turbo Look variants dominate: the "Turbo Look" models lead the field by a clear margin, and the June 2026 median sale prices (€154,964 and €156,750) confirm it, beaten only by the Speedster and the 30 Jahre 911
Carrera 4 over Carrera 2 no longer holds without qualification: in the June 2026 median sale prices the closed Carrera 2 (€99,700) leads the Carrera 4 (€89,000); only the rare Carrera 4 Targa (€104,825) tops the standard cells
The outlook
Judge the body styles individually: the average figures up to May 2025 put Cabriolets ahead; in the June 2026 median sale prices the standard Cabriolets form the bottom end at €77,950 to €79,957, with the Coupé and Targa above them
A moderate upward trend: after the current consolidation phase, moderate appreciation of 3-5 per cent a year to 2030 is realistic
The 911Finder assessment
The 964 remains an attractive investment for collectors and enthusiasts, though the individual model variants now need to be judged more carefully. The emotional bond, the technical innovation and the limited numbers will continue to underpin stable prices.
The data used in this analysis is based on market observation, sales statistics and expert assessment from a range of sources. The sales data from June 2026 that is marked as such comes from the MarqueScope SOLD archive (October 2025 to June 2026, export of 11 June 2026, marquescope.de), where the figures are median sale prices per model cell. All other prices are averages. Individual cars can differ considerably depending on their specification, condition and mileage.
