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GM recalling another 1.3-million cars over power steering woes

When it rains, it pours. General Motors has announced yet another major recall, covering 1.3 million units in the American market over concerns that the power steering could suddenly fail. As reported by The Detroit News' David Shepardson, GM has now recalled nearly ten times as many cars as it did all of last year.
It's important to note that should this problem arise in these cars, the steering won't fail completely, however, power steering could suddenly stop functioning. Manual steering would still be possible, but as GM says, there's an increased risk of accidents, particularly at lower speeds.
Like the ignition switch recall, this latest problem covers a wide range of vehicles from Chevrolet, Saturn and Pontiac. Normally, we'd give you the full rundown in paragraph form, but the variety of models and model years means a list is just easier. So, have a look, directly from GM's press release:

Junkyard Gem: 2000 Pontiac Grand Prix Daytona 500 Edition

The W Platform proved to be extremely long-lived and versatile for General Motors, remaining in production from 1988 all the way through 2016. You had your Impalas and your Regals and your Cutlass Supremes, and of course the 1988-2008 Pontiac Grand Prix was a W-body. For the 2000 model year, Pontiac made the racy-looking Daytona 500 Edition Grand Prix, an example of which I just found in a Northern California self-service wrecking yard. 2,000 of these cars were made, presumably because it was the year 2000, and each one sports plenty of cool-looking Daytona 500 graphics. Perhaps some Regal owner will buy these seats and swap them. This is the second junked Daytona 500 Grand Prix I have seen recently, after this one in Colorado. The Daytona 500 was about the same as the GTP version, with Eaton-supercharged 3800 engine making a respectable 240 horsepower. Disappointingly, this car has an automatic transmission. It never saw 150,000 miles, unlike most 21st-century W-bodies I see in wrecking yards. Featured Gallery Junked 2000 Pontiac Grand Prix Daytona 500 Edition View 21 Photos Auto News Pontiac Sedan

'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: