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The last Pontiac Fiero sold for $90,000 at auction

On August 16, 1988 the last Pontiac Fiero, a red GT model, rolled off the assembly line at GM's Pontiac Assembly plant located in Pontiac, Michigan. It wasn't just the final Fiero, but the final car to be built at that site. The car was raffled off to one of 1,400 plant employees that would soon have to find jobs elsewhere. Whoever that employee was, they remained faithful to the Fiero and kept it in mint condition for 32 years. Last month, it was finally time to move on. It crossed the block at GAA Auctions in Greensboro, North Carolina where it sold for an astounding $90,000. According to the auction house, that's a new world record. The price no doubt reflected the car's place in history as the last example of GM's 1980s mid-engined sports car. However, it was also showroom-new, with just 582 miles clocked on its 2.8-liter V6. 1988 models were also fitted with an upgraded, Lotus-esque suspension produced for just that one year. In addition, this car, serial number 226402, came with its original build sheet, photos from the assembly line, and a collection of news articles and books. It still wore its pre-delivery plastic on the interior and was fully loaded with automatic transmission. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The car's custodian for the past 32 years must be pleased. Bidding started at $25,000 but soon rocketed past the $65,000 reserve. You can see the action starting at the 2:50:13 mark in the video above. The Fiero was symbolic of the 1980s and stood out from the standard GM passenger car fare for its mid-engine layout and plastic body panels. In an era when GM often rebadged cars with minimal differences, the Fiero rode on its own unique chassis. It was positioned as one of the defining products for Pontiac, GM's "excitement" brand, but actual performance never quite lived up to its striking looks.  Nevertheless, it garnered a cult following. It's often the basis for (questionable) custom builds mimicking more exotic models like Ferraris and Lamborghinis, thanks to a steel space-frame design that allows body panels to be easily removed. Thankfully, this significant example escaped such a fate and will live on as a reminder of an interesting chapter of automotive history.

'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:

Junkyard Gem: 2010 Pontiac G6

What makes a discarded car a gem? Sometimes it's a car we all agree is very cool, and other times it's a car that tells us something about automotive history. Today's Junkyard Gem is the latter type: one of the very last Pontiacs sold, before The General shut out the lights forever on the storied marque after 84 years. The G6 was Pontiac's Epsilon-platform-based car, sibling to the Chevy Malibu, Saturn Aura, and Saab 9-3 (plus a bunch of Europe-only machinery). The very last Pontiac ever built was a white 2010 G6 sedan like this one (all '10 G6s were sedans, the coupe and convertible having been nixed in 2009), though that car was built in January of 2010 and this one came off the line in July of 2009. They build Bolts at the Orion Assembly plant these days. The higher-zoot G6s came with V6s or even V8s, but this car has "fleet machine" written all over it and has the base 2.4-liter Ecotec four-banger making 164 horsepower. Pontiac shoppers in the United States could buy the Vibe as a 2010 model as well, while Mexican Pontiac dealerships also sold new G2s (known as the Spark here) that year. The G6 was The Final Pontiac, though, bookending a run that began with the 1926 Pontiac Six. This one will go to its grave with the original owner's manual still inside. Even the cheapest 2010 G6s came with an AUX jack for the radio, a feature that was still maddeningly hard to find in rental cars a decade ago. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Before the bankruptcy and the gloom, optimism surrounded the G6. Related Video: Featured Gallery Junked 2010 Pontiac G6 View 19 Photos Auto News Pontiac Automotive History Sedan pontiac g6 Junkyard Gems