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Le Mans-winning Porsche 935 K3 'seized' by DEA agents

Porsche has won Le Mans more than any other marque, but only one of those overall race winners was actually based on a 911. That was the 1979 Porsche 935 K3, chassis number 009 00015 that was entered by brothers Don and Bill Whittington. It went on to win at the Nürburgring and Watkins Glen, and scored podium finishes at Sebring and Brands Hatch as well. In short, it's a historically significant and hugely valuable piece of motorsport history. And it was just seized by the DEA. Sorta.
After the Whittington brothers ran afoul of a handful of lawsuits and were implicated in smuggling narcotics, the car changed hands a few times before ending up in the noted collection of one Bruce Meyers. He had it at Laguna Seca earlier this month when a black Suburban, Dodge Charger and transporter truck pulled up with government plates, asked to speak with Meyer, presented him with a court order, loaded the car onto the truck and drove off.
Though familiar with the legal disputes surrounding the ownership of the car and the misdeeds of its famous original owners, Meyer was left understandably distraught over the events that had just unfolded in front of him to separate him from his pride and joy. (Or one of them, anyway; Bruce has got an eminently desirable collection of classic cars.) But here's the kicker: those DEA agents weren't actual DEA agents. Fortunately they weren't thieves, either. The actual story could have been the plot right out of Ocean's 14 if they ever made one and it focused on classic cars. (Is anyone in Hollywood listening?)

Used Porsche 911 Rs are selling for nearly $1.3 million

Some cars are just born to be collector's items. Prices of Porsches of all years and styles have started to rise in recent years, particularly air-cooled 911s, but the 911 R seems to take the cake. Used ones are trading hands for almost $1.3 million on the used car market. For a car that sold new for $185,950, that's quite a steep markup. In fact, at seven times the original MSRP, high-end car finance company Magnitude Finance told Motoring Research that it may be an appreciation record. Porsche only built 991 911 Rs. The number is a reference to the current 991 chassis code for this generation of the 911. When it was announced, it was heralded as the purists 911: a lightweight special equipped with a manual transmission and backed by the 4.0 liter flat-six from the GT3 RS. It's hard to say if this is a trend or simply an anomaly. The car hasn't been on sale for long, so few have publicly changed hands. Hopefully the next 911 GT3 will satiate those who desire a driver focused 911 experience at a slightly more reasonable price point. Related Video:

Automakers paying Chinese dealers for lower-than-expected sales

The Chinese dealers vs. foreign manufacturers story won't quit. It began with a story on the struggles faced by FAW-Toyota joint venture dealers, with supposedly 95 percent of the showrooms losing money, and 10 percent of them doing so poorly that they'd have to exit the business. The problem is mandated sales targets, most set when the country's economy was racing. Now that things have slowed, China's dealers are swimming in unsold cars and the costs to keep them. In the case of FAW-Toyota, dealers asked Toyota to hand over 2.2 billion yuan ($355 million) to help address the situation. That was followed by a report noting the issues that Honda, BMW, and Nissan dealers are having with the same issue, revealing that the Chinese Automobile Dealers Association (CADA) had taken the highly unusual step of writing to the Chinese government to complain. Now Reuters reports that CADA is not only pressing its case even harder, it's being open about it: it announced that BMW agreed to pay dealers 5.1 billion yuan ($820 million) to alleviate poor profits last year. Unnamed sources said Audi has thrown 2 billion yuan into the kitty for subsidies, and Daimler has contributed "about 1 billion yuan" to its dealers. The battle isn't just about 2014, but how business will be run in 2015 as well: Chinese Porsche dealers have requested the automaker lower its 2015 target of 64,000 cars, which would be a 40-percent increase on its 2014 sales of 46,931 vehicles. One analyst called it "shocking" that the CADA has taken its fight public, while CADA comments continue to imply that dealers have been railroaded to the cliff's edge without recourse. "Due to the difference in status," it's deputy secretary said, "individual dealers are not willing to, or don't dare to, talk frankly with the carmakers...." Both parties need one another, so they'll figure out a way to make it work – but that could mean acknowledging the Chinese market is behaving more like a mature one, not an emerging one. News Source: ReutersImage Credit: Lintao Zhang/Getty Images Earnings/Financials Audi BMW Porsche Toyota Car Dealers Luxury