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Porsche 911 993

Overview

Porsche spent around 400 million Deutschmarks and four years on the 993 at a moment when it could barely afford either. Sales had fallen from more than 50,000 cars in 1986 to fewer than 15,000 by 1993, Wendelin Wiedeking had just taken charge and was rebuilding the factory around Japanese manufacturing methods, and the company needed the 911 to be right. It was. Tony Hatter's body, drawn under Harm Lagaay, laid the headlamps back into the wings for the first time in thirty years and pulled the whole car lower and wider without losing a line of it. Underneath, a new light-alloy rear subframe carried a multi-link, coil-sprung rear suspension, the single biggest chassis change the 911 ever received, and the one that finally took the fear out of a lifted throttle. The 3.6 flat six made 272 PS, then 285 with VarioRam from 1996, through the first six-speed gearbox fitted to a 911. Porsche built 68,881 of them and then went to water cooling, which is most of why this car is priced the way it is.

Distinctions

The defining attributes and collector status that make this car garage-worthy.

Legend
A car that transcended the hobby, known far beyond the people who drive them.
Octane Files Select
Renowned for its history, engineering, or cultural weight.

Collectibility scorecard

Rated 1 to 10 on the traits that matter for owning, driving, and holding on to a car like this.

Desirability
9/10
Rarity
6/10
Driving thrill
8/10
Investment trajectory
8/10
Usability
8/10
Ease of restoration
6/10
Cultural impact
8/10
Electronic dependence
Fully analogHeavily electronic

Bosch Motronic runs fuelling and ignition, VarioRam from 1996 uses an electrically actuated variable-length intake, and the same year brings OBD-II diagnostics. Anti-lock brakes are standard, the Turbo's four-wheel drive is electronically governed, and the Tiptronic S option shifts on buttons set into the wheel. Against that, the throttle is still a cable, the steering is hydraulic, there is no stability control anywhere in the range, and the engine is cooled by a fan turned by a belt off the crankshaft. It sits high for its era and nowhere near a modern 911.

Market data

Demand tier, price trend, and typical values by condition. Our own assessment, not a quoted valuation.

Demand tier
EntrySolidHighBlue-chip

The proven elite. Values are established, liquid, and defended at every auction.

Value trajectory
AppreciatingStableCooling

Values are climbing. The market wants more of these than exist.

Price by condition
Driver
$70k
Excellent
$115k
Concours
$180k

The last-air-cooled premium is measurable rather than sentimental. Tracked sale averages sit near $93,000 for a manual Carrera coupe, and Hagerty rates the 993 as the most valuable air-cooled generation on average, up more than 40 per cent since 2020. The wide-bodied Carrera S and 4S, the Carrera RS, the Turbo and the GT2 all trade well above the band below, which describes a manual rear-drive Carrera coupe. Tiptronic cars and cabriolets sit under it.

Values as of August 2026.

Buyer's guide

What anyone seriously considering this car should know first.

Why it's worth it
The final air-cooled 911, and the first with a proper multi-link rear end
Callout
The last air-cooled 911: Porsche built 68,881, then switched to water
What to watch for
The 993 is the least troublesome air-cooled 911 to buy and it still has a list. Start with the model year, because 1996 is the dividing line. Cars from then have VarioRam, 285 PS and OBD-II emissions equipment, and it is those cars whose secondary air injection ports coke up, throw a check-engine light and fail an emissions test. Clearing them properly means taking the cylinder heads off, so a car with a live fault should be priced as an engine-out job rather than a sensor. The 1994-95 cars avoid it entirely and cost less; some 1995 and 1996 wiring harnesses were recalled. Then the usual air-cooled inspection. Oil leaks from the plastic cam covers and from the oil bridge feeding the cam towers are near-universal and rarely serious. Valve guide wear shows as oil consumption and a puff of smoke on a trailing throttle. Look for a documented, unhurried service history rather than low mileage. Beyond the engine, check that a Targa's glass roof still runs properly on its rails, and read any wide-bodied car's paperwork closely, because Carrera S and 4S bodies have been imitated.

The Story

Driving character

The 993 is where the 911 stops threatening you, and the multi-link rear suspension is the reason. Lift the throttle mid-corner and the car settles instead of pivoting, so thirty years of accumulated advice about never lifting quietly stops being load-bearing. What is left is a rear-engined car with an unusually pure front end: light steering full of texture, and a nose that darts because there is so little sitting over it. The 3.6 is the sweetest air-cooled flat six Porsche built. It idles smoothly, pulls from 2,000rpm, and past 4,500 opens into a hard, layered mechanical howl with the fan whining behind it, and the VarioRam cars find a genuine second surge on the way to the limiter. The six-speed shift is short, mechanical and precise. The Turbo is a different proposition, four-wheel drive and 408 PS delivered without theatre, fast in a way the 930 never was and entirely calm about it. Everything here has more grip and more warning than any earlier 911, and it is still unmistakably the same machine.

Design

Tony Hatter did the body under Harm Lagaay, and the change everyone sees is the headlamps. For thirty years they had stood upright and proud on the wings; the 993 lays them back into the bodywork on a rake, keeping the round shape and losing the vertical. Around them the wings are wider and lower, the front smooths into a single deep valance, and the rear haunches swell over the new multi-link suspension in a way no earlier 911 could manage. The mirrors get their own teardrop housings on stalks. The G-Series light bar is gone, replaced by wider, flatter lamps and a cleaner panel. It is the most substantial reshaping the 911 had ever had and it still reads as the same car from fifty metres, which was exactly the point. The wide-bodied Carrera S and 4S borrow the Turbo's arches, and the Turbo itself adds a fixed rear wing and hollow-spoke alloys. The Targa reinvents itself completely: no removable panel, no hoop, just a glass roof that slides away under the rear window.

Motorsport pedigree

The 993's racing life was fought by customers, and the car that did the fighting was the GT2. Homologated as a road car with bolt-on arches and rear-wheel drive, because the regulations would not take four-wheel drive, it became the default GT weapon of the mid-1990s. In its first full BPR Global GT season in 1996 it took seven class wins from eleven rounds, and it won its class at Le Mans in both 1996 and 1997. Between 1995 and 1998 GT2s collected titles in the BPR series, IMSA, the SCCA World Challenge and the ADAC GT Cup, before Chrysler's factory-backed Viper GTS-R got the better of them in 1998. A 993 GT2 also served as the Formula 1 safety car through the 1995 season. One thing worth keeping straight: the 911 GT1 that won Le Mans outright in 1998 wore a 993 nose and 993 badging, but underneath it was a purpose-built mid-engined prototype, and that result belongs to it rather than to this generation.

In culture

The 993's cultural life is unusual because most of it happened afterwards. It arrived without a defining film role, a hit record or a bedroom poster, and then spent twenty-five years becoming the object at the centre of a movement. Luftgekuehlt, started by Patrick Long and Howie Idelson in a Venice car park in 2014 and now an international series of gatherings, rests on the premise that air-cooled Porsches are a category worth celebrating on their own, and the 993 is where that category stops. Every conversation about the end of air cooling ends on this car. It was also absent from video games during the exact years a generation was learning cars through them, because Electronic Arts held an exclusive Porsche licence from 2000 that kept the marque out of Gran Turismo until 2016, with RUF standing in for it. The result is a car better known through ownership and the enthusiast press than through mass culture, which is part of why its reputation reads as earned rather than inherited.

Owning One

Why collectors want it

The premium the 993 carries is real, and it is worth being precise about what pays for it. Part of it is scarcity of the right kind. This is the end of a thirty-four-year run of air-cooled engines, a line that cannot be extended, and the car that closed it is the most developed version of it. Part of it is that the 993 is simply the best of the family to use: the multi-link rear end, the six-speed gearbox, VarioRam torque from 1996, brakes that work and a cabin you can sit in all day mean it needs no excuses made for it. And part of it is a market accident. The 996 that followed was cheap and unloved and shared its face with a Boxster, which made the 993 look like the last proper one long before nostalgia had anything to do with it. Hagerty rates the 993 as the most valuable air-cooled generation on average, up more than 40 per cent since 2020. Inside the range the hierarchy is steep, and a manual Carrera coupe is its sensible centre of gravity.

Which one to look for

The volume car is the rear-drive Carrera coupe, and the first decision is the year: 272 PS through 1995, 285 PS with VarioRam from 1996. After that it is bodywork. The Carrera 4 is the four-wheel-drive car, with far lighter hardware than the 964 carried. The Carrera 4S, 6,948 built, takes the Turbo's wide body and brakes without the turbochargers, and the Carrera S, 3,714 built, is the rear-drive version of the same idea and the connoisseur's ordinary 993. The Targa, 4,583 built, drops the removable panel for a glass roof that slides back under the rear screen, and remains divisive. At the top sits the Turbo: twin-turbocharged, four-wheel drive, 408 PS, 5,978 built, and the first 911 Turbo an ordinary driver could use quickly. The 1997 Turbo S lifted that to 450 PS. The GT2 makes the opposite argument, rear-drive with bolt-on arches and no comfort, built to go racing. And the Carrera RS, 1,014 cars with a 3.8-litre engine at 300 PS, is the lightweight the purists chase.

Carrera · 1994–1998

The volume car and the one the market treats as the benchmark. Rear-wheel drive, 3.6 litres, 272 PS to 1995 and 285 PS with VarioRam from 1996, through the first six-speed gearbox fitted to a 911. Coupe, cabriolet and, from 1996, Targa.

Carrera 4 · 1995–1998

The four-wheel-drive car, with a much lighter and simpler system than the 964 carried. Secure rather than exciting, and the sensible choice for anyone who intends to drive a 911 through a winter. Available in the same body styles as the rear-drive Carrera.

Carrera 4S · 1996–1998

The car that started the wide-body idea for this generation: Turbo bodyshell, Turbo brakes and four-wheel drive with the naturally aspirated 285 PS engine. Heavier than a Carrera and more of an event to look at, and the most sought-after of the ordinary 993s.

Carrera RS · 1995–1996

The lightweight. A 3.8-litre engine at 300 PS, a stripped and stiffened shell, and the last normally aspirated air-cooled RS Porsche ever made. Sold in Europe rather than the United States, which has kept it scarce on the American market.

Carrera S · 1997–1998

The rear-drive wide-body. Turbo arches and brakes, an air intake in each rear quarter, lowered suspension and no turbochargers, which makes it the connoisseur's normally aspirated 993. Late in the run and never common.

GT2 · 1995–1998

The racing homologation car: rear-wheel drive because four-wheel drive was not allowed in class, bolt-on plastic arches over enormous wheels, a huge rear wing and almost nothing inside. 430 PS at first and 450 PS for 1998. The hardest 993 to drive and the most successful in competition.

Targa · 1996–1998

A complete reinvention of the name. No removable panel and no stainless hoop; instead a glass roof that slides back under the rear screen on rails, leaving a large opening and the coupe silhouette intact. Divisive when new and still divisive.

Turbo · 1995–1998

The first twin-turbocharged 911 and the first Turbo with four-wheel drive. 408 PS, a fixed rear wing, hollow-spoke alloys, and delivery so undramatic that it broke the widowmaker legend the 930 had spent twenty years building. The last air-cooled turbocharged Porsche.

Turbo S · 1997

A final, heavily specified Turbo with higher boost, larger turbochargers, extra intakes in the rear quarters and 450 PS. Built in small numbers at the very end of the generation and now among the most valuable air-cooled cars of any kind.

What owning one is like

The 993 is the air-cooled 911 you can use without planning your week around it, and its problems are few and well understood. Oil leaks are the constant: the cam covers are plastic and stop being oil-tight with age, and the oil bridge carrying oil up to the cam towers seeps. Neither is dangerous, both are routine, and an air-cooled Porsche that never leaks has usually just been cleaned. Valve guides wear, which raises oil consumption and puts a puff of smoke out on a trailing throttle, and becomes a top-end job when it goes far enough. The one genuinely expensive item belongs to 1996-on cars: the secondary air injection ports coke up, the warning light comes on, the car fails emissions, and putting it right properly means removing the cylinder heads. Owners in emissions-test states plan for it rather than fear it. Otherwise the list is short. Sunroof and Targa mechanisms want exercising, dashboard electrics are ageing, interior plastics scuff. The car is galvanised, robust and happy to be driven, which is why so many carry high mileage and nobody minds.

Upkeep & parts

Running a 993 is closer to running a modern car than anything else in this family, and more expensive than that sounds when a big job arrives. Servicing is straightforward and the intervals are long, with hydraulic lifters removing valve adjustment entirely. Parts are excellent: Porsche Classic supplies factory components, the independent trade is deep in every market, and shared parts with the 964 keep some prices sensible. The costs to plan for are all engine-out. A clutch means dropping the engine and gearbox. A secondary air injection clean on a 1996-on car means removing the heads, and it is the single biggest routine bill this car generates, so budget it rather than dread it. A full rebuild runs well into five figures but is rarely needed at ordinary mileages. Because the cars are valuable, more owners use specialists than turn spanners themselves, but the do-it-yourself route is entirely viable: Rennlist's 993 forum and Pelican's published procedures cover almost everything, and the Porsche Club of America's technical archive addresses the air injection question directly.

Country of origin
Germany
Class
Sports
Production years
1994–1998
Units built
68,881
Model
911
Nickname
Last of the air-cooled
Body
Convertible, Coupe, Targa
Layout
Rear-engine, AWD / RWD
Engine
3.6L air-cooled flat-six (272 PS, 1994-95), 3.6L air-cooled flat-six with VarioRam (285 PS, 1996-98), 3.8L air-cooled flat-six (Carrera RS, 300 PS), 3.6L twin-turbocharged flat-six (Turbo, 408 PS, and Turbo S, 450 PS), 3.6L twin-turbocharged flat-six (GT2, 430 PS, 450 PS for 1998)
Transmission
6-speed manual, 4-speed Tiptronic S automatic
Designer
Tony Hatter (design manager, under design director Harm Lagaay)