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What's driving the spike in air-cooled Porsche 911 prices

Classic car prices have been racing skyward in general, but prices for air-cooled (pre-1999) Porsche 911s are ascending like they're strapped to rocket boosters. It's been going on for years, and every year people are surprised by how outrageous it's getting: Classic Driver covered it this month, as did The Truth About Cars who included this example of a "scruffy" 1993 RS America with 215,000 miles asking $80K; Mike Spinelli at Drive riffed on it at length last year along with a host of classic-car-market observers; Porsche forums were at it two years ago; and let's not even get into the 993 Turbo, going for prices so high you have to lie down to look at them. Speed Academy has run a piece looking at why it's happening, one theory being that regular-guy owners are hopping on the runaway-price wagon without any good reason. As in the example of that high-mileage, scruffy 911 RS America at Bring a Trailer, the owner sees pristine examples valued by Hagerty at $170,000, and even though the average value is $93,238 he thinks something like, "Mine's got to be worth half of top dollar ..." The tide - even one rising on air - makes it hard to find decent prices. Then there is the flood of money into the market. In spite of articles that try to temper investors' outlooks on collectible cars, other articles in places like the Financial Times and the Guardian promote vintage metal as a safe place to put money and reap astonishing returns. Speed Academy thinks one side effect of high 911 prices is that responsible enthusiasts are turning their attention to cars like the BMW 2002, E30 M3, and E9 3.0CS, saying their prices are "sharply on the rise." The entire article is worth a read since it goes into markets far afield from pricey German steel, but incredibly, the entire piece was actually inspired by a 1997 Acura Integra R that sold for $43,000 on eBay. So while this could be the best time to get into the classic car market if you know what you're doing, it is certainly the best time to do your homework. Related Video:

Motorweek looks back at the Pontiac Aztek

The Pontiac Aztek has earned a position as this generation's ultimate, automotive punchline. Even other execrable models like the Yugo or Mustang II probably get more respect these days just out of their sheer quirkiness, but the Aztek remains a joke. Fortify your mind for what's coming, though, because the much-maligned Pontiac might not be quite so atrocious, at least according to MotorWeek's latest Retro Review video. MotorWeek calls the Aztek, "GM's first true crossover vehicle," and it's amazing to think of the hated model as a progenitor of one of the most popular segments today. While admitting that the looks are polarizing, John Davis and company actually come away pleased with the Aztek's utility. They praise that there's a ton of room in the back, and the interior is packed with useful features like a removable cooler in the center console and radio controls in a cargo area. The show is even impressed with how the Pontiac drives and throws around accolades like "nimble" and "pleasant." After seeing the Aztek leading the pack on lists of the worst vehicles of all time for years, listening to it get such effusive praise is actually quite jarring. Could we all be so wrong? No, there's absolutely no debate that this is still a hideous automobile. However, MotorWeek asserts a complete reversal of the generally perceived wisdom about the early CUV. While unexpected, thinking about such an abhorred model in a different way is a cool experience. Check out the video for a different take on the Aztek.

GM doing fine at retaining Pontiac owners

This isn't the first time we've reported positive news about General Motors retaining former Pontiac owners. Get a few more stories like this latest report from Edmund's Auto Observer, and it will mark an ongoing positive trend for GM. Edmunds.com crunched the numbers to see how well the General is hanging on to customers after shutting out the lights at Pontiac, and it found that nearly 40 percent of Pontiac owners stayed with a vehicle from a General Motors brand.
The numbers are a little lower than an earlier R.L. Polk & Company study, but Edmunds says General Motors is keeping more former Pontiac buyers than it has since 2007. Most are turning to vehicles from Chevrolet, especially during January and February of 2011, when GM incentivized Pontiac owners to stay under the umbrella. Those moves seem to have worked, and 28.1 percent of Pontiac owners trading up made the jump into a Bowtie.
Buyers that have gone elsewhere have largely stayed loyal to Domestic automakers, with Ford picking up the most conquests from Pontiac, with 9.4 percent switching. Toyota and Honda picked up 7.4 percent of the pool of former Pontiac drivers. The numbers are defying any predictions that Pontiac buyers would completely exit the General Motors fold, and have climbed up closer to parity with the retention figures of other GM brands from a 2009 low of only 16 percent retention.