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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:

Watch as Hot Rod goes from El Paso to LA the hard way

There are few things simultaneously more romantic and idiotic than taking a road trip in a beaten-down heap of a car. Trust us. We know. David Freiburger and Mike Finnegan of Hot Rod Magazine fame recently undertook an epic trip from El Paso, Texas to Los Angeles with the express goal of doing so for under $1,500, including the purchase price of a vehicle, food, lodging, repairs and, most importantly, fuel. With this in mind, the duo settled on a 1972 Pontiac Catalina for a lofty $650. Hilarity ensues.
Realizing that no one actually wants a Catalina sulking around the shop, Freiburger and Finnegan put the car up for auction on eBay Motors the instant they had the title in hand. By the time they rolled into Hot Rod HQ, the vehicle sold for a little over $500.
The video is part of a new series called Roadkill that should document similar adventures. Keep your eyes peeled for more calamity-soaked clips in the near future. In the meantime, hit the jump to check it out yourself.

Junkyard Gem: 1984 Pontiac Fiero with supercharged 3800 V6 swap

Like the Corvair, the Vega, and the Citation, the Pontiac Fiero was a very innovative machine that ended up causing General Motors more headaches than happiness, and Fiero aficionados and naysayers continue to beat each other with tire irons (figuratively speaking, I hope) to this day. The General has often proved willing to take the occasional big gamble and huge GM successes in engineering prowess (including the first overhead-valve V8 engine for the masses and the first real-world-usable true automatic transmission) and marketing brilliance (e.g., the Pontiac GTO and related John DeLorean home runs) meant that the idea of a mid-engined sporty economy car (or economical sports car) got a shot from the suits on the 14th floor. Sadly, the Fiero ended up being the marketplace victim of too many issues to get into here, and The General pulled the plug immediately after the 1988-model-year suspension redesign that made the Fiero the sports car it should have been all along. But what if the plastic Pontiac had never suffered from the misery of the gnashy, pokey Iron Duke engine and had been built from the start with a screaming supercharged V6 making way better than 200 horsepower? The final owner of today's Junkyard Gem sought to make that very Fiero, by dropping in one of the many supercharged 3.8-liter V6s installed in 1990s and 2000s GM factory hot rods. The first Fieros came out in 1983 for model year 1984, and the only engine available that year was the Iron Duke 2.5-liter four-cylinder, which generated its 92 horsepower with the full-throated song of a Soviet tractor stuck in the freezing mud of a Polish sugar-beet field. The 2M4 badging stood for "two seats, mid-engine, four cylinders," just as the numbers in the Oldsmobile 4-4-2 once represented "four carburetor barrels, four-speed manual transmission, dual exhaust." This car is a top-trim-level SE model, which listed for $9,599 (about $24,200 today). The no-frills Fiero cost just $7,999 that year, making these cars far cheaper than the only other reasonably affordable new mid-engined car Americans could buy at that time: the $13,990 Bertone (aka Fiat) X1/9. The Toyota MR2 appeared in North America as a 1985 model with a base price of $10,999 and promptly siphoned off the car-buying cash from a bunch of potential Fiero shoppers.