The development of Carrera GT can be traced back to its predecessors, the and Due in part to the and rule changes in 1998, both designs had ended. Porsche at the time had planned on a new for 1999. The car was initially intended to use a turbocharged but was later redesigned to use a new pushing the project back to planned completion in 2000. The V10 was a unit secretly built by Porsche for the team in 1992, but later shelved. The engine was resurrected for the Le Mans prototype and increased in size to 5.7 litres. Unfortunately the project was canceled after two days of testing for the first car, in mid-1999, mostly due to Porsche's wish to build the SUV with involvement from and , thus requiring engineering expertise to be pulled from the motorsports division. It was also speculated that chairman wanted Audi's new Le Mans Prototype, the not to face competition from Porsche in 2004.
Porsche did keep part of the project alive by using the 5.5 L V10 from the prototype in a shown at the 2000 , mainly in an attempt to draw attention to their display. Surprising interest in the vehicle and an influx of revenue provided from the Cayenne helped Porsche decide to produce the car, and development started on a road-legal version that would be produced in small numbers at Porsche's new manufacturing facility in Porsche started a production run of Carrera GTs in 2004, shipping the units with an MSRP of $440,000 and a dealer invoice price of approximately $414,800 USD. In addition, the delivery charge could be as much as $5,000 USD. The first Carrera GT went on sale in the US on January 31, 2004.
Originally a production run of 1,500 cars was planned. But Porsche announced in August, 2005 that it would not continue production of the Carrera GT through 2006, citing discontinuation was due to changing airbag regulations in the US. As of May 6, 2006[update], 1,270 GT's had been manufactured, with 604 being sold in the United States
The Carrera GT has a basic five colour paint scheme which includes Guards Red, Fayence Yellow, Basalt Black, GT Silver and Seal Grey. Custom colours were also available from the factory. A traditional six-speed is the only available transmission. Attached to this gearbox is a beechwood gearknob which pays homage to the wooden gearknob used in t Le Mans racers. In its second year of production, a limited edition knob was also made available.
The Carrera GT has large side inlets and air that help cool the large framed by the rear bonnet. Fitted with Porsche's latest (C/SiC) composit system, the 15-inch (380 mm) disc brakes make an impressive appearance underneath the 19 inch front and 20 inch rear wheels. Similar to other Porsche models, such as the 911, the GT includes an automated rear wing spoiler which deploys above 70 mph (110 km/h).
The interior is fitted with soft leather. and navigation systems are available as options. In typical Porsche fashion, the is to the left of the steering wheel. This placement dates back to the early days of Le Mans racing when drivers were required to make a running start, hop into their cars, start them and begin the race. The placement of the ignition enabled the driver to start the car with his left hand and put it in gear with his right.
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