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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: 1988 Pontiac 6000 LE Safari Wagon

The Detroit station wagon was fast losing sales to minivans and trucks as the decade of the 1980s progressed, but Pontiac shoppers still had plenty of choices as late as the 1988 model year. A visit to a Pontiac dealership in 1988 would have presented you with three sizes of wagon, from the little Sunbird through the midsize 6000 and up to the mighty Parisienne-based Safari. Today's Junkyard Gem is a luxed-up 6000 LE, complete with "wood" paneling, found in a car graveyard in Fargo, North Dakota. Confusingly, the "Safari" name in 1988 was used by Pontiac to designate both a specific model — the wagon version of the Parisienne/Bonneville— and as the traditional Pontiac designation for a station wagon. That meant that the wagon we're looking at now was a Safari but not the Safari in the 1988 Pontiac universe. The 6000 lived on the GM A-Body platform, as the Pontiac-badged version of the Chevrolet Celebrity. Production ran from the 1982 through 1991 model years, with the A-Body Buick Century surviving all the way through 1996. The LE trim level came between the base 6000 and the gloriously complex 6000 STE (which wasn't available in wagon form, sadly). I visited this yard in Fargo after judging at the Minneapolis 500 24 Hours of Lemons in Brainerd, Minnesota, last fall. Up to that point, I had visited 47 of the Lower 48 United States, with just North Dakota remaining, so I made a point of doing a Fargo detour in order to check that state off my list. I'm pleased that I found such a good example of the 1982-1996 GM A-Body in this yard, because the most famous of all the A-Bodies is the 1987 Oldsmobile Cutlass Ciera driven to Brainerd by the inept Fargo-based kidnappers in the film "Fargo." This Minnesota-plated 6000 had some rust, but just negligible levels by Upper Midwestern standards on a 31-year-old car. The interior looked very good, with the original owner's manual still inside. The 6000 LE boasted "redesigned contoured seats and London/Empress fabric," which sounds pretty swanky. Something less swanky lives under the hood: an Iron Duke 2.5-liter pushrod four-cylinder engine, known as the Tech 4 by 1988. The Iron Duke was, at heart, one cylinder bank of the not-quite-renowned Pontiac 301-cubic-inch V8; while fairly rugged, the Duke ran rough (typical of large-displacement straight-four engines) and made just 98 horsepower in this application. Pontiac offered a couple of optional V6s in the 6000 in 1988, but no Quad 4.

'67 Chevy Corvair convertible vs. '86 Pontiac Fiero in cult classic showdown

Every few a decades, the folks running General Motors lose their minds briefly try to market a car that public doesn't see coming and often aren't ready for. In the '60s there was the rear-engine, air-cooled Chevrolet Corvair, then the mid-engine Pontiac Fiero in the '80s and the completely bizarre Chevy SSR in the 2000s. What all of these had in common was that they bucked the trend for American models of their era, for better or worse. The latest episode of Generation Gap tasked the hosts with finding two cult classic vehicles to choose between; they came come up with two of these quirky products from The General.
On the classic side, there's a 1967 Chevy Corvair Monza convertible. Being from later in the production run, it wears slightly more aerodynamic styling than the earlier, boxier examples. Hanging out back is an air-cooled, 2.7-liter flat-six pumping out a robust 95 horsepower. In the other corner is the somewhat more modern 1986 Pontiac Fiero SE with a mid-mounted, 2.5-liter "Iron Duke" four-cylinder, an engine nearly ubiquitous in GM cars of the '80s.
Judging by when they were new, the Corvair was far more successful than the Fiero with over 1.8 million sold. Of course, Ralph Nader's book Unsafe at Any Speed kind of poisoned the well, even if the poor safety reputation wasn't entirely deserved. The Fiero on the other hand only lasted for a few model years before shuffling off, but it eventually got its own performance boost with the V6 version and rather attractive GT models. Check them both out in the video and tell us in Comments which you want in your garage.