The rally took place over four days, starting in Taupo and finishing in Auckland on Sunday, and had more than 100 entries.
Dippie, whose co-driver was Jona Grant, said it was something of a race between a tortoise - in this case, his 2007 Porsche GT3RS - and hares. His Porsche was a 2WD vehicle up against 4WD cars, which had been specially adapted for the race.
''We had a strategy to go flat out and try and keep up with the big boys. Historically, 4WD vehicles have dominated this race, so we just wanted to keep up with them,'' Dippie said.
The 4WD vehicles have more power and also have better handling in wet conditions. But being highly tuned and driven at high speed, they are also more susceptible to mechanical breakdowns and crashes.
Clark Proctor, who was leading the race, crashed out on the second day, with Dippie and his co-driver having to pull him out of his Nissan GTR vehicle.
That crash pushed the Dunedin duo up into fourth. One vehicle then dropped out with gearbox problems and another vehicle went off the road.
That left them in second place with one day left.
Auckland driver Jason Gill was leading but he blew a motor at the start of the final day, pushing Dippie into the top position.
Dippie continued to race hard on the tight and twisty roads to eventually get across the finish line first.
The last person to win the event in a 2WD vehicle was the great Jim Richards, seven years ago.
Dippie paid credit to his team and the performance of the car, with a blown brake bulb being the only mechanical issue.
In the Targa rally, there is no preparation of roads allowed, so in effect drivers are competing on roads and stages they have not driven on before. Grant was the navigator throughout the race.
Dippie said it was a mentally tough race, and it was great to win the overall title.
He would be back to defend his title, and it would be on familiar roads next year.
On its 20th anniversary, the race will be based in the South Island next year. It will start in Christchurch before going through Dunedin and Invercargill and finishing in Queenstown.
