Mr Goodhue said the specialist rescue tender from Auckland Central Fire Station was required to use lifting equipment to raise the vehicle to free the man.
The car's front wheel was also removed.
"He had gone between the tyres in the middle of the car.
"He was conscious and telling us to hurry up and get the car off him."
The man's position under the car made it difficult for paramedics to assess him, he said.
St John spokesman Robbie Walker said the man was taken to Auckland City Hospital in a critical condition.
Mr Goodhue said the man was wearing a helmet and his bicycle lay nearby in a "severely" bent and damaged state.
A police spokeswoman said the driver of the Porsche is a 54-year-old Auckland man and the car and the cyclist were travelling in the same direction when the accident occurred.
"We always encourage all road users to share the roads safely and to be aware of hazards, climatic conditions and other road users," she said.
Police Northern Communications Shift Inspector Andy Brill said the condition of the cyclist was serious.
"He has been taken to hospital under status one and we are investigating the incident," he said.
The man was now in a stable condition at Auckland City Hospital, an Auckland District Health Board spokeswoman said.
