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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:

Junkyard Gem: 2009 Pontiac G3

Things weren't looking so rosy for Pontiac Division in late 2008, as The General had troubles of its own that culminated in Chapter 11 bankruptcy in June of 2009. Meanwhile, the Solstice and G8 had failed to revive Pontiac's youthful "excitement" image. Naturally, this seemed like the ideal time to put Pontiac badges and a new grille on the Chevrolet Aveo (itself a rebadged Daewoo Kalos) and call it the G3 (in the United States) or the G3 Wave (in Canada). Sales were not brisk, to put it mildly, and the 2009-only G3 has become one of the rarest modern Pontiacs in the junkyard world. The announcement of Pontiac's demise came in the spring of 2009, with the very last Pontiac-badged vehicle built being either a G3 or a Vibe (since those cars were really Daewoos and Toyotas, respectively, the true final Pontiac was the 2010 G6). The Aveo itself disappeared after the 2011 model year, replaced by an updated Kalos design known here as the Chevrolet Sonic. As a result of the GM bankruptcy, termination of the Pontiac brand, a nasty worldwide recession, and the preference of American vehicle shoppers for trucks or at least truck-shaped cars, few knew the G3 existed and fewer still thought to buy one. This is only the second G3 I've managed to find in a car graveyard, and I've been searching diligently.  So, it's a Junkyard Gem in the historical sense, not in the sense of being the kind of car you'd want to take to your 20th high school reunion. That said, it has power windows, air conditioning, and a CD player— pretty nice stuff for a dirt-cheap econobox from a decade back. And look! An AUX jack for your iPod or early-model smartphone. I drove dozens of cheap rental cars for my job with the 24 Hours of Lemons Traveling Circus during the late 2000s, and very few had this feature; until about 2013 or so, you had to travel with your own CDs or one of those horrible wireless FM modulators if you wanted to listen to anything other than the radio in a non-high-roller rental car. Under the hood, a 106-horse Daewoo Ecotec displacing 1.6 liters. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. If there were any television commercials for the G3, I guarantee that they weren't as fun as this one— set in the California high desert, of course— for the SKDM Kalos.

Junkyard Gem: 1991 Pontiac Grand Am LE with Quad 4 Engine

GM introduced the N-Body compact platform with the Oldsmobile Calais and Pontiac Grand Am for the 1985 model year and continued building N-based cars through 1998. Most of these cars weren't interesting from an enthusiast standpoint, but a handful rolled off the assembly line with raucous DOHC Oldsmobile Quad 4 engines and manual transmissions, and those cars were plenty of fun. Here's a 1991 Grand Am with that rare setup, photographed in a self-service yard in California's Central Valley. The base engine in the 1991 Grand Am was the 110-horsepower, 2.5-liter pushrod Iron Duke, an engine that might have been fine on a Romanian tractor in 1953 but had no place on an American street car as the 21st century approached. Fortunately, GM started bolting the modern 2.3-liter DOHC Quad 4 engine into 1988 cars, and this was a proper four-cylinder. The Quad 4 ran a little rough and uncivilized, and it had its share of reliability problems, but you could rev the piss out of it and it made good power. In 1991, this engine was rated at 180 hp. That made this 2,592-pound sedan pretty quick. Unfortunately, the slushboxization of America had progressed with depressing rapidity during the 1980s, and by 1991 most Grand Am buyers — even the ones who opted for the Quad 4 — chose the automatic transmission. That didn't happen with this car, though — it boasts a rugged Getrag 5-speed instead of the happiness-amputating three-speed automatic. Yes, that's the kind of odometer reading you'd expect to see on an Accord or Maxima from this era. Someone loved this car and took care of it. Here we see an interesting mix of 1980s and 1990s car-radio technology. CD players in cars were still costly luxury items in 1991, seldom seen in affordable cars like the Grand Am, while 1980s-style slider-style EQ controls were on the way out. This Delco unit straddles both decades nicely. I seek out Quad 4-equipped cars during my junkyard travels, and I have photographed quite a few: this '89 Cutlass Calais, this '90 Cutlass Calais, this '90 Grand Am, this '91 Quad 442, this '93 Achieva SCX, and this '98 Cavalier Z24. It's a shame that Buick never put the Quad 4 in the Reatta, which was a fine car ruined by a somnolent and obsolete V6. The music in this ad is even more early-1990s than Crystal Pepsi. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.