2005 Pontiac Gto on 2040-cars

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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:

Saturn Vue ignition switch leads to new group of GM recalls totaling 312k

General Motors has another spate of recalls to announce. This time they cover 312,280 vehicles worldwide, including 269,041 of in the US, in a total of six campaigns. In 2014, the automaker has recalled 29,079,765 vehicles worldwide, with 25,754,356 of those in the US.
The largest among them covers 215,243 units of the Saturn Vue from 2002-2004 model years worldwide, 202,115 in the US. It's possible for the for the key to be removed even when the ignition isn't in the OFF position. The company knows of two crashes and one injury caused by this problem. Dealers are checking the parts and replacing the ignition cylinder and key set, if necessary.
Next is 72,826 models worldwide (48,059 vehicles in the US) of the 2013 Cadillac ATS four-door sedan, 2013 Buick Encore and 2013 Chevy Trax in Canada. It's possible that the for lap belt pretensioner to retract but not to lock, which could increase occupant movement during a crash. Both front, outboard lap belt pretensioners are being replaced, and a stop-sale is in effect on unsold models until the problem is repaired. There are no known crashes or injuries, though.

Junkyard Gem: 2001 Pontiac Grand Prix GTP

For General Motors, the W platform just kept giving and giving and giving for decade after decade, serving as the basis of Buick Regals, Oldsmobile Intrigues, Chevrolet Monte Carlos, and many, many more models. The final and most powerful Pontiac W-Body, the sixth-generation Grand Prix GTP, rolled off assembly lines for the 1997 through 2003 model years. Here's one in a Northern California self-service wrecking yard. GM bolted the supercharged 3800 V6 into vast numbers of cars during this era, providing a deep reservoir of cheap blowers for unwise high-boost projects. 240 front-tire-charring horses, complete with a Roots-type blower scream from the Eaton supercharger under the hood. I see plenty of blown 3800s during my junkyard travels, from the Bonneville SSEi to the Oldsmobile LSS. Depressingly, GM stopped putting manual transmissions in the Grand Prix during the 1993 model year, so '01 GTP owners had to take the four-speed slushbox. This one came close to the magic 200,000-mile mark, but fell 25,000 short. The interior took a beating during its life, ending its time on the road with shredded upholstery and dirty panels. Seven-band graphic equalizers were all the rage during the 1980s, but GM kept the tradition alive into our current century. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Grips the pavement like ... a shopping cart on wet linoleum? Featured Gallery Junked 2001 Pontiac Grand Prix GTP View 21 Photos Auto News Pontiac Automotive History