The Porsche 911 Targa 4S (992 generation) is a modern iteration of the iconic 911 lineup, introduced in 2020 as part of the eighth generation of the 911 series. Production is ongoing as of 2023, with exact unit numbers not publicly disclosed by Porsche, though the Targa variant typically represents a smaller fraction of total 911 production, enhancing its appeal among collectors. The 992 Targa 4S is powered by a 3.0-liter twin-turbocharged flat-six engine, delivering 443 horsepower and 390 lb-ft of torque, paired with an 8-speed PDK dual-clutch transmission or an optional 7-speed manual. It achieves 0-60 mph in approximately 3.4 seconds with a top speed of 188 mph.

Unique to the Targa is its semi-convertible design, featuring a retractable roof panel and a distinctive roll hoop, blending open-air driving with coupe-like rigidity—a signature since the original Targa debuted in 1967. For exotic car collectors, the Targa 4S offers a balance of rarity and usability, with limited production compared to standard 911 models. Value trends show strong appreciation for well-maintained Targa variants, especially manual transmission examples or special editions like the Heritage Design Edition, making it a sought-after modern classic.