Porsche Cayman 987 (2nd Generation) - The Ultimate Guide

The Porsche Cayman 987 (both 987.1 and 987.2, built from 2005–2012) was designed in-house at Porsche’s Style Porsche studio in Weissach, Germany, under the direction of Harm Lagaay and later Michael Mauer.

Harm Lagaay – Porsche’s long-serving design chief through the 1990s and early 2000s, who had been instrumental in the Boxster (986) and Carrera GT, helped set the design direction for the Cayman project before retiring in 2004. Michael Mauer – succeeded Lagaay as Head of Design in 2004 and oversaw the Cayman’s final development and production launch.

The Cayman 987 was essentially developed as a coupe derivative of the Boxster (987), but with its own fastback roofline, rear hatch, and slightly different proportions. It was intentionally positioned between the Porsche Boxster and the 911 in Porsche’s lineup, both stylistically and dynamically. So, the short answer: the 987 Cayman was designed by Porsche’s in-house team at Weissach, with Harm Lagaay initiating the project and Michael Mauer carrying it through to production.

The Porsche Cayman (987) was produced from 2006 through 2012, and it’s divided into two phases:

987.1 (First Generation Cayman) 2006–2008: Launched with the Cayman S in 2006 (3.4L flat-six, ~295 hp). Base Cayman joined in 2007 (2.7L flat-six, ~245 hp). Continued until 2008 before the facelift.

987.2 (Facelifted Cayman) 2009–2012: Major update with new 2.9L (265 hp) and 3.4L DFI (320 hp) engines. Introduction of PDK dual-clutch transmission as an option. Special variants included the Cayman R (2011–2012) and Cayman S Black Edition (2012).

The Porsche Cayman 987 remains one of the most attractive entry points into modern Porsche ownership, and prices reflect a wide range depending on year, condition, and variant. Early 987.1 models (2006–2008) are typically the most affordable, with market data showing average values around $28,000. At the low end, high-mileage or project cars can be found under $10,000, while clean, well-kept Cayman S examples have sold for as much as $66,500 at auction.

With the facelifted 987.2 generation (2009–2012), values climb thanks to updated engines, better reliability, and improved features. Base models generally trade in the mid-$20,000 range, while Cayman S examples fall between the mid-$30,000s and just under $40,000. The high-performance Cayman R, introduced for 2011, commands a premium: automatic versions often sell in the low-$50,000s, while desirable manual cars can reach closer to $70,000, especially with low mileage or excellent provenance.

Looking more broadly across all listings and platforms, the average asking price for a Cayman of any generation tends to hover between $45,000 and $50,000, with outliers above or below depending on specifics. Entry-level buyers can still find running examples in the high-teens, while collectors and enthusiasts often seek out the rarer special editions such as the Porsche Design Edition, Cayman S Sport, or Cayman R, which naturally carry higher values.

In short, a well-maintained 987 Cayman base model can often be secured in the $25K–$35K range, while a Cayman S or limited edition will usually run $35K–$70K. Exceptional, low-mileage cars or rare special editions may stretch beyond that. For buyers, the key is balancing budget with the right specification, condition, and history to ensure the best long-term enjoyment and value.

Absolutely — a Porsche Cayman 987 is still both fast and fun to drive today, even more than a decade after production ended. While modern sports cars have gotten quicker on paper, the Cayman’s appeal isn’t just about raw speed.

Performance-wise, the 987 remains impressive. A base 987.2 Cayman (265 hp) will sprint from 0–60 mph in about 5.4 seconds, while a Cayman S cuts that to the low 5s, and the Cayman R can dip into the 4.7-second range. That’s still quick by today’s standards, especially considering the Cayman’s naturally aspirated flat-six delivers power with immediacy and a rich soundtrack that many enthusiasts feel newer turbocharged engines can’t match.

More importantly, the driving experience is what makes the 987 shine. Its mid-engine balance gives it razor-sharp handling and a level of agility that remains competitive with modern sports cars. The steering feel is hydraulic, providing a level of feedback that Porsche’s newer electric setups can’t quite replicate. Combined with the Cayman’s relatively light weight (under 3,000 pounds in most trims), it feels alive and communicative in a way that makes backroad drives or track days deeply engaging.

Of course, technology has moved on — newer Caymans (981/718) are quicker, more refined, and pack advanced driver aids. But many enthusiasts argue that the 987 hits a sweet spot: modern enough to feel reliable and usable, yet raw enough to deliver a pure sports car experience. The manual gearbox, naturally aspirated flat-six engines, and hydraulic steering all contribute to that timeless fun factor.

In short, while a 987 Cayman may not dominate spec sheets against today’s turbocharged sports cars, it remains a thrilling, engaging, and rewarding driver’s car. For many, its blend of speed, handling, and analog feel makes it more enjoyable than some of Porsche’s newer offerings.

Yes — the Porsche Cayman 987 did receive a substantial mid-cycle update, often referred to as the facelift, which separated the early 987.1 (2006–2008) from the later 987.2 (2009–2012). The most significant changes were under the skin. The base Cayman’s engine grew from 2.7 liters to 2.9 liters, raising output from 245 hp to around 266 hp, while the Cayman S adopted direct fuel injection (DFI) and climbed from about 295 hp to 320 hp. Reliability also improved with the removal of the troublesome intermediate shaft (IMS) and upgrades to oiling and cooling systems, making the 987.2 a far more durable package.

The Porsche Cayman 987 did receive a substantial mid-cycle update, often referred to as the facelift, which separated the early 987.1 (2006–2008) from the later 987.2 (2009–2012). The most significant changes were under the skin. The base Cayman’s engine grew from 2.7 liters to 2.9 liters, raising output from 245 hp to around 266 hp, while the Cayman S adopted direct fuel injection (DFI) and climbed from about 295 hp to 320 hp. Reliability also improved with the removal of the troublesome intermediate shaft (IMS) and upgrades to oiling and cooling systems, making the 987.2 a far more durable package.

The transmission lineup also evolved. The older Tiptronic S automatic was phased out in favor of Porsche’s then-new 7-speed PDK dual-clutch gearbox, which offered faster, smoother gear changes. A limited-slip differential became available as an option, further enhancing traction and driver involvement. Alongside these drivetrain changes, braking performance was improved with stronger discs, quicker stopping distances, and features like Start-Off Assist, bringing the Cayman’s capabilities closer to the 911 Carrera’s.

Visually, the 987.2 gained a refreshed front bumper design, reshaped rear fascia, and distinctive LED lighting details — the Cayman featured its unique “dice-face” indicator arrangement that differentiated it from the Boxster. Interior updates included the option of a new-generation Porsche Communication Management (PCM) touchscreen system, keeping the cabin more modern and user-friendly.

The facelift also ushered in some standout variants. The Cayman R, introduced in 2011, focused on lightweight performance, shaving around 55 kg, stiffening the suspension, and bumping output to about 330 hp. Earlier special editions, such as the Cayman S Sport and Porsche Design Edition 1, also added exclusivity with cosmetic enhancements, sportier options, and limited production runs. Together, these updates made the 987.2 Cayman not only quicker and sharper but also more reliable and desirable for enthusiasts.

The Porsche Cayman 987 (2006–2012) and the Porsche Cayman 981 (2013–2016) mark two distinct generations of Porsche’s mid-engine coupe, and while they look related, the differences run deep in design, engineering, and driving character.

The 987 was Porsche’s first Cayman, built on the Boxster 987 platform. It featured compact dimensions, hydraulic steering, and naturally aspirated flat-six engines ranging from 2.7 liters in the base car to 3.4 liters in the Cayman S and Cayman R. The early 987.1 cars (2006–2008) had M97 engines, while the facelifted 987.2 cars (2009–2012) received the new 9A1 engines with direct fuel injection and the option of Porsche’s 7-speed PDK transmission. The 987 cars are relatively raw, with firm but communicative ride quality, simple interiors, and an “analog” driving feel that many enthusiasts love.

The 981 Cayman, introduced in 2013, represented a major leap forward. Built on a new platform, it featured a longer wheelbase and wider track, which improved stability and cabin space. Its design language shifted toward a more modern, sculpted look, borrowing cues from the contemporary 911 and 918 Spyder. Under the skin, the engines remained naturally aspirated flat-sixes, but outputs climbed: the 2.7-liter base model made 275 hp, the 3.4-liter Cayman S delivered 325 hp, and the range later expanded to include the Cayman GTS (340 hp) and track-focused Cayman GT4 (385 hp). The 981 also benefited from revised suspension, optional adaptive dampers, and significant weight reduction in some variants.

Inside, the difference is just as dramatic. The 981’s interior adopted Porsche’s modern “rising center console” design first seen in the Panamera, bringing higher quality materials, more luxury features, and improved ergonomics compared with the simpler 987 cabin. The switch from hydraulic to electric power steering in the 981 is one of the most debated changes: while it reduced steering feel compared to the 987, it made the car more refined and easier to live with day to day.

In essence, the 987 Cayman is the more compact, raw, and analog sports car, prized for its steering feel and old-school Porsche character. The 981 Cayman is the more modern, refined, and powerful successor, offering greater comfort, a sleeker design, and higher performance variants like the GT4, but with a slightly less connected steering experience.

The Porsche Cayman 987 was quick across all its variants, and while performance varied depending on whether you were looking at the base, S, or special editions, even the earliest models still feel lively today.

When the Cayman launched in 2006 as the Cayman S, it came with a 3.4-liter flat-six producing about 295 hp. That was good for 0–60 mph in around 5.1 seconds with a manual gearbox, or slightly quicker with the optional Sport Chrono and later PDK transmission. Top speed was about 171 mph, placing it firmly in 911-like territory at the time.

In 2007, the base Cayman joined the lineup with a 2.7-liter flat-six making 245 hp. It wasn’t as quick, but still respectable: 0–60 mph in roughly 5.8–6.1 seconds and a top speed just shy of 160 mph. The facelifted 987.2 models (2009–2012) got new engines: a 2.9-liter base Cayman with 265 hp and a 3.4-liter DFI Cayman S with 320 hp. These upgrades shaved a few tenths off acceleration, with the base car hitting 60 mph in about 5.4 seconds and the S in about 4.9 seconds, while top speeds climbed to 165 mph (base) and 172 mph (S).

The performance pinnacle was the Cayman R (2011–2012). With 330 hp, a lighter chassis, and sportier tuning, it could sprint to 60 mph in 4.7 seconds (with PDK and Sport Chrono) and had a top speed of about 175 mph. Porsche also offered special editions like the Cayman S Sport and Cayman S Black Edition, which were similar in pace to the R but aimed more at exclusivity and styling.

In short, across its run, the 987 Cayman ranged from a 5.8–6.0 second 0–60 car at the entry level to a sub-5 second, 175-mph sports coupe in the Cayman R, making it properly fast for its era and still engaging today.

Choosing the “best year” for a 987-generation Porsche Cayman depends on whether you value analog charm and price accessibility (early 987.1) or refinement, reliability, and peak performance (later 987.2). Here’s how it breaks down:

Early Cars (987.1, 2006–2008)

The first Caymans brought the model to market and are often praised for their raw feel and hydraulic steering purity. They also tend to be the most affordable. However, the M97 engines used in 987.1 cars still carried some of the old IMS bearing and bore scoring risks, which makes them a bit less desirable for long-term ownership unless well-documented and maintained. Enthusiasts who want the most “classic Porsche feel” at a lower entry price still enjoy these early cars, especially clean Cayman S examples from 2006–2008.

Facelifted Cars (987.2, 2009–2012)

For most buyers, the 987.2 models are considered the sweet spot. The update brought new engines with direct fuel injection, no IMS bearing, and better oiling/cooling systems, addressing the 987.1’s potential weaknesses. Performance also improved: the base Cayman moved to 265 hp, and the S gained 320 hp. Porsche’s 7-speed PDK dual-clutch gearbox debuted here too, alongside updated styling and interior technology. Many enthusiasts consider 2009–2010 models to be the “smart buy” because they combine modern reliability with still-accessible prices.

Special Variants (2011–2012)

If your definition of “best” means most exciting and collectible, then the crown goes to the Cayman R (2011–2012). It’s lighter, sharper, and more powerful (330 hp) than the standard cars, making it the most driver-focused 987 Cayman. The 2012 Cayman S Black Edition is another standout, combining the R’s performance with a high-spec luxury package and limited production. These later special models are rare, more expensive, and increasingly sought after by collectors.

Final Verdict

Best all-around year for most buyers: 2009–2010 Cayman S — you get the reliability of the new engines, strong performance, and lower prices compared to the later special editions.

Best enthusiast’s choice: 2011–2012 Cayman R — the ultimate 987 for driving purity and future collectability.

Best budget buy: 2006–2008 Cayman S — offers the raw early Cayman experience, but buyers should budget for potential engine issues.