The fire broke out at around 3:55am local time, with firefighters called to the scene at Holsteiner Chaussee shortly after, where they found at least 10 of the luxury cars on fire. A spokesperson said 38 firefighters worked to extinguish the blaze, which they were able to bring under control before it spread to more of the sports cars.
Ten cars were completely destroyed, while others were damaged by the fire, as well as the foam used to extinguish the flames, NDR reports. Porsche estimated the damage cost more than €1 million ($1.3 million).
Local officials suspect the fire could be linked to the G20 summit, Mopo reported.
Police said they are concerned the incident could have been incendiary arson and are looking into whether the fire was related to the G20 summit.
As many as 100,000 protesters are expected in Hamburg during the meeting of 20 nations on Friday and Saturday, Handelsblatt reports.