Mine is doing the same thing. It seems to happen when I am listening to a CD and then turn the car off and when I get back in and start the car. The only thing I can get it to do is eject CD, then I hit the FM button. Then you can put the CD back in and it will play fine. The other day mine wouldn't play a CD when I first put it in. All it said was Track 1. This is just another example of the sub-par POS sound system Porsche chose to put in a 60K+ car. Also, the horrible radio reception drives me insane! Some people want to defend Porsche and say "It's a driver's car, not worried about the radio, I just listen to the sound of the motor". I love to ride along listening to the sound of the engine, but sometimes I like to jam along back roads listening to a great CD!
I expect to have a radio that works and is of decent quality from a 60K+ car. No excuse for this POS sound system especially when I paid extra for it!