PNoy sells Porsche, sights security reason

PNoy's Porsche
Image credit: abs-cbnnews.com

President Benigno Aquino III sold his luxury car, a 2007 model Porsche, as reported by local media, July 6, 2011.

It was reported that, the purchase of the luxury vehicle made while he was still months in his presidency was a personal decision although many believed that it was not in accordance with his call for austerity and good governance.

It was noted that, PNoy’s choice of selling the car was due to security concerns and not the controversy surrounding the luxury vehicle.

"It's putting an unnecessary risk on the people who are guarding me. It is too exposed and it is like an advertisement, saying, 'Here I am. I am most vulnerable here'," the president was quoted in the report.

"I just relegated it to the garage and it would deteriorate if it is not used. So it’s time to let somebody (else) experience it," the 51-year-old bachelor adds.

Apparently, the president did not identify the buyer or for how much he sold it but he was quoted as saying that he sold it at "exactly the same price that I bought it for."

Report reveals that, with the sale the president is optimistic that the issue will finally die down.