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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:

NHTSA could add 1M cars to GM recall

The Detroit Free Press is reporting that the National Highway Traffic Safety Administration may expand a recall campaign for faulty brake lamps. The agency is currently looking into complaints that certain 2004-2011 Chevrolet Malibu models as well as some 2007-2009 Saturn Aura sedans may have brake lights that do not illuminate when the driver presses the pedal. Alternatively, the lamps may also illuminate without input from the driver. General Motors recalled 8,000 Pontiac G6 models from the 2005 model year for the same problem, and NHTSA is currently investigating whether to add 550,000 more G6 models built between 2005 and 2009 to the list for the same issue.
In addition, investigators are currently examining 97 complaints from Malibu and Aura owners with the same trouble. If NHTSA adds those models to the recall campaign, more than one million units could be covered. GM, meanwhile, says there have been no accidents or injuries as a result of the problem.

This KITT replica sold at auction for $32,500

UPDATE: This 1987 Pontiac Firebird Trans Am KITT replica officially sold for $32,500. Here's hoping the new owner has a blast throwin' it into Pursuit Mode. Let's get one thing straight right off the bat: This isn't a perfect KITT replica. The original KITT used in the Knight Rider TV series was based on a 1982 Pontiac Firebird Trans Am. The one you see above, which is currently for sale at auction site Bring A Trailer, is a 1987 model, and since it's a GTA edition, it has some extra body cladding that the smooth-sided television car lacked. That aside, most casual observers would probably never notice the difference, and even those who did (like us) are still likely to be impressed by the car's transformation. This KITT replica is powered by a 5.0-liter V8 engine mated to a four-speed automatic transmission. It ought to be fairly quick, though quite a bit shy of the fictional car's very fictional 300-mph top speed. We're not exactly Knight Rider experts, but some quick Google sleuthing suggests that the Knight Industries Two Thousand supposedly cost more than $11,000,000 to build in Hollywoodland. This one will surely command a significantly lower sum — as of this writing, it's been bid up to $18,000 with four days remaining on the auction. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. For those truly fanatical about accuracy, here's a video of one of the originals visiting Jay Leno's Garage for reference. There are several videos of the car that detail its modifications inside and out, but suffice it to say it seems to be a well-sorted replica. Here's hoping its new owner keeps it well clear of other KARRs. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.