[kuche]

I have a 2001 Boxster S. It has been running fune until this week, when I got a CEL light. I read the code and it is a single code, P0420 Catylist system eff below threshold Bank 1. Any suggestions on next steps? I assume this indicates a bad CAT - does this need to be replaced or is there some other fix? Can it be driven like this or should it be fixed asap?

thanks