Gts Suv 4.8l Cd Awd Air Suspension Power Steering 4-wheel Disc Brakes Fog Lamps on 2040-cars

Auto blog

'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:

Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.

Petrolicious profiles the rare Italian Porschephile

If you're Italian, you love Ferrari. It's almost a national requirement. If not Ferrari, then Lamborghini, or if you're a bit contrarian, perhaps Alfa Romeo or Maserati. This common belief, though, flies in the face of Rosita Corato's devotion to a certain unique Porsche. Despite growing up around cars from Italy's most treasured automakers, Rosita's family of coachbuilders had a passion for Porsche. This love was fostered by her father, who made a living repairing Ferraris. Despite his work, he'd longed for a rear-engined German, finally picking up a 1959 356 Speedster that was in desperate need of restoration. Rosita describes it as "practically a heap of metal" before her masterful metalworking father got to work on it. While it was originally meant to be a racer, it could best be described today as a restomod, and Rosita still uses it regularly on rallies. The engine and brakes have been upgraded, while the ratios on the manual transmission have been tightened up for improved performance. To save weight – remember, Rosita's father wanted a racer – the doors and hood were replaced with aluminum units, while other aesthetic upgrades were made as well, such as moving the fuel access up onto the hood. Check out Rosita's gorgeous 356 Speedster in the very latest episode from the team at Petrolicious. Related Video: