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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:

GM recalling 778,000 Cobalts and G5s, six deaths reported

General Motors has announced that it will be recalling 778,562 compact cars after six people were killed in accidents, partially due to the airbags' failure to deploy. An issue with the ignition switch is causing the airbag issues, as well as causing the engine and other components to shut off without warning. The recall covers the 2005 to 2007 model year Chevrolet Cobalt and 2007 Pontiac G5. (Note that the Cobalt pictured above is a 2009 model.)
According to a report from Automotive News, a number of factors can cause the ignition to switch out of the run position, including weights on the key ring, rough or bumpy roads or other "jarring" events. Any of these situations could lead to some vehicle components not functioning properly.
There have been five fatal front-impact crashes that took the lives of six people, although as a GM spokesman noted, all five of the crashes happened off road and at high speed. In each of these cases, though, the lack of airbags wasn't the only lethal factor - alcohol and failure to wear a seat belt also played a role. Outside of the fatal accidents, there have been 17 other crashes where airbags didn't deploy. It's unclear if any of these crashes were caused by the engine shutting off.

700 horsepower Porsche GT2 RS is the wildest 911 ever

The Porsche 911 comes in a variety of flavors, each filling a certain taste for a certain customer. Sitting atop the range is the new 911 GT2 RS. In previous generations, the GT2 had a bit of a reputation as a widowmaker, a 911 with massive power that could snap and bite with the slightest agitation. Porsche says the new model has been civilized, but with 700 horsepower going to the rear wheels, we're sure it's going to be as mad as ever. Power comes from a highly massaged version of the 3.8-liter flat-six from the 911 Turbo S. The rear-mounted engine makes an outrageous 700 horsepower and 553 lb-ft of torque. Like we previously reported, the new car will use water injection to help keep things cool. The only transmission is Porsche's PDK. While enthusiasts may lament the loss of the manual, the RS models have always been about performance above all else. Simply put, the PDK is the better performance option. All that power translates to a 0-60 mph time of 2.7 seconds and a top speed of 211 mph. The engine makes 80 more horsepower than the previous model. That makes it the most powerful road-going 911 ever built. In fact, the 887 horsepower 918 Spyder is the only road-going Porsche that makes more power. The fact that Porsche trusts all of that power to go to the rear is both thrilling and terrifying at the same time. In order to manage traction, the GT2 RS gets a number of upgrades. Rear-wheel steering has become commonplace in the 911 lineup, so it's no surprise to see it here. Sticky tires with 265/35 ZR 20 section rubber at the front and 325/30 ZR 21 section rubber at the rear keep things planted. That comically large rear wing adds downforce, adding to stability. The car gets standard carbon ceramic brakes. While some people prefer traditional rotors for the street, like the PDK, this is all about performance. A number of intakes and outlets complement the rear wing and maximize aerodynamic efficiency. It's a bit of a surprise that with all the focus on downforce, the GT2 RS still manages to top out at 211 mph. The hood, front wings, wheel housing vents, door mirrors, side air intakes, parts of the rear end, and a number of interior components are all made from carbon fiber. The roof has been made of magnesium. If you want to drop any pretense of civility and comfort in the pursuit of speed, Porsche is offering a Weissach package that shaves off another 40 pounds from the already impressive wet weight of 3,241.