The Porsche 912 was Ferry Porsche's way of asking customers, "Speed costs money, how fast do you want to go?" It was Porsche's first serious attempt at what today's marketing gurus would tout as the entry-level Porsche. Back in 1965, however, everyone got the point when the German auto magazine, auto motor und sport, called it "the bread-and-butter Porsche."
That term aptly fit not only the 912's performance as a lower priced, no-frills 911 substitute but also its raison d'etre, which was to keep bread on the tables of Porsche dealers. When the 911 debuted as a 1965 model, the car embodied what Ferry Porsche felt was necessary in a modern sports car, especially one with his family name sprawled across the decklid. Its $6,500 U.S. price tag, however, was nearly $2,000 more than the 1965 356SC it was replacing. Ferry Porsche, as astute at marketing as he was at engineering, understood the difference between what most sports-car buyers would want and what they might be willing, and or able, to spend. Besides being more expensive than the aging 356, the 911 also cost about $1,000 more than Jaguar's sensuous E-Type roadster, which was still an automotive sex kitten back in 1965. A Corvette Sting Ray coupe was even cheaper at a $4,321 base price. In order for Porsche dealers to survive, Porsche realized that a lower priced model was a necessity.
So while the 912 may not have been part of the original plan for developing a successor to the 356, as the 911 got closer to its final stages of development, a sibling 912 model started to evolve as well. Of the 13 901 model prototypes built between 1962 and 1964, four-cylinder engines powered two of the later cars.
The 912 went into production in April 1965. Externally almost identical to the 911, the 912 had a more austere interior. The standard dash had only three gauges, although the five-gauge setup of the 911 was optional. Another option was the 911's wood-rim steering wheel. A four-speed transmission was standard on U.S. cars, the five-speed a popular option. The biggest change was in the engine compartment. The engine that took the place of the 911's 2.0-liter (1991cc) 130-bhp six cylinder was a variant of the 356SC's Type 616 1.6-liter (1582cc) four cylinder. By slightly lowering the already lower compression ratio and making subtle changes to the camshaft and valvetrain, Porsche made the 912 version higher revving but less stressed than the 356SC unit. Horsepower was down from 95 to 90 (DIN), while torque stayed at 90 lb-ft but came on at 3500 rpm instead of 4200 rpm. End result was that while a 356SC could scamper from 0 to 60 mph in about 10.5 sec., the heavier (by 154 lb) 912 would trail it by about a second to that speed before gradually pulling ahead to a marginally higher top speed of 119 mph. The 912's big pluses over the 356 were increased comfort, double the interior space and a modern suspension. All of this was available at its U.S. introductory price, in 1966, of $4,690, only $113 more than the 1965 356SC it replaced.
Porsche understood its customers. By the end of 1965, production of 912s (6,401) nearly doubled that of the 911 (3,390). In 1966, when U.S. customers got their first chance to buy one, they eagerly bought up almost half the 912s made. Porsche churned out 12,820 900-series cars that year, and of those 9,090 were 912s.
In 1967, Porsche built only 3,239 912s, of which 544 were Targas, the first year for that model. For 1968, production rebounded to 7,242 912s with 1,217 being Targas. The following year, 1969, the 912 shared the "stretched" wheelbase (by 2.4 in.) chassis introduced on the 911. That was the good news. The bad news was that a 110-bhp 911T model debuted and cut into 912 sales. There were 3,913 coupes and 801 Targas produced in what was the original 912's last year of production. The 914 would replace it as the entry-level Porsche in 1970.