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'We're not a hedge fund': Porsche plans to curtail speculators and flippers

A sizable number of speculators view cars as an investment. Rare or unusual models are quickly snapped up and either parked for years or flipped for a profit. Cars from automakers like Porsche and Ferrari are more prone than others, and at least some people behind these models are getting a bit tired of it. While it's difficult to police what goes on after you sell a car, Porsche has some plans that might curtail the problem before it starts. Andreas Preuninger, the head of GT road-car development and the man behind the new 911 GT3, spoke to Car and Driver at a recent event. "I personally like to see my cars being used," he said. "That's what we build them for. They are just too good to be left to stand and collect dust." One recent example of this rampant speculation is the 911 R. While the special manual-only model sold for $185,950 when new, used versions were selling for nearly $1.3 million just months after it went on sale. While the car is a masterpiece and an instant classic, a good number will be parked and simply used as art and not the rolling testaments to the man/machine interface they were intended to be. The concern over valuations has become so fierce that some owners are upset that Porsche is offering the new 911 GT3 with a manual transmission, fearing that it may hurt the value of the 911 R. "When I said we're not a hedge fund, I'm talking to those people who are yelling at us for offering the manual transmission similar to the R," Preuninger said. "But if there are people wanting to buy cars like that, then as a company we should try to fulfill that, to meet that demand." It seems Porsche is keeping a close eye on who is flipping cars. Since there is often far more demand than supply with certain models, the German automaker has a name for every car before it's built. Buyers with bad reputations might not even make the wait list. Related Video:

Burt Reynolds' vehicles up for auction at Barrett-Jackson

Burt Reynolds' influence on car culture cannot be overstated. Be it "Smokey and the Bandit" or "Cannonball Run," his films inspired a generation of car enthusiasts. He died a few weeks back from cardiac arrest at age 82. This weekend, four vehicles from Reynolds' personal collection — three Pontiacs and a Chevy — will go up for auction at Barrett-Jackson in Las Vegas. It seems Reynolds had plans to sell the cars before he passed. He even filmed a short teaser for the auction and planned to attend the event himself. Three of the cars are Pontiac Trans Ams. Two are re-creations of the cars he drove in "Bandit" and the film "Hooper." Both are 1978 models. The third Trans Am is from 1984 and was used to promote Reynolds' USFL team, the Tampa Bay Bandits. The fourth vehicle is a 1978 Chevy R30 pickup truck. It's styled like the truck he drove in "Cannonball Run." None of the vehicles were actually used in the movies. But they were registered in his name, making them far more legitimate than some other movie-inspired clones. It's unclear how many Bandit Trans Ams Reynolds has owned over the years. Another car connected to him sold for $450,000 back in 2014. His death is sure to drive the price of these new cars even higher. Related Video: Image Credit: Barrett-Jackson Celebrities Chevrolet Pontiac Auctions Truck Coupe pontiac trans am burt reynolds

Junkyard Gem: 2009 Pontiac G3

Things weren't looking so rosy for Pontiac Division in late 2008, as The General had troubles of its own that culminated in Chapter 11 bankruptcy in June of 2009. Meanwhile, the Solstice and G8 had failed to revive Pontiac's youthful "excitement" image. Naturally, this seemed like the ideal time to put Pontiac badges and a new grille on the Chevrolet Aveo (itself a rebadged Daewoo Kalos) and call it the G3 (in the United States) or the G3 Wave (in Canada). Sales were not brisk, to put it mildly, and the 2009-only G3 has become one of the rarest modern Pontiacs in the junkyard world. The announcement of Pontiac's demise came in the spring of 2009, with the very last Pontiac-badged vehicle built being either a G3 or a Vibe (since those cars were really Daewoos and Toyotas, respectively, the true final Pontiac was the 2010 G6). The Aveo itself disappeared after the 2011 model year, replaced by an updated Kalos design known here as the Chevrolet Sonic. As a result of the GM bankruptcy, termination of the Pontiac brand, a nasty worldwide recession, and the preference of American vehicle shoppers for trucks or at least truck-shaped cars, few knew the G3 existed and fewer still thought to buy one. This is only the second G3 I've managed to find in a car graveyard, and I've been searching diligently.  So, it's a Junkyard Gem in the historical sense, not in the sense of being the kind of car you'd want to take to your 20th high school reunion. That said, it has power windows, air conditioning, and a CD player— pretty nice stuff for a dirt-cheap econobox from a decade back. And look! An AUX jack for your iPod or early-model smartphone. I drove dozens of cheap rental cars for my job with the 24 Hours of Lemons Traveling Circus during the late 2000s, and very few had this feature; until about 2013 or so, you had to travel with your own CDs or one of those horrible wireless FM modulators if you wanted to listen to anything other than the radio in a non-high-roller rental car. Under the hood, a 106-horse Daewoo Ecotec displacing 1.6 liters. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. If there were any television commercials for the G3, I guarantee that they weren't as fun as this one— set in the California high desert, of course— for the SKDM Kalos.