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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: 2001 Pontiac Aztek

Ah, the Pontiac Aztek. Everyone laughs at the Aztek ... except, apparently, for Coloradans who like to go camping, bike riding, hiking, and all that outdoorsy stuff that folks do in the Centennial State. You'll see Azteks being driven, unironically and without shame, all over the place in the Denver region, and now plenty of them are showing up in the local wrecking yards. Here's a first-year-of-production example in its final campground. These minivans or crossovers (or however the experts finally decided to categorize them) had built-in air compressors, audio controls in the rear cargo area, and other features meant to enhance tailgating, camping, and other activities deemed central to Generation X's allegedly active lifestyle. You could even get an optional camping kit with a tent that attached to the rear of the Aztek. So, it was a General Motors minivan-like vehicle, cousin of the weird-looking Dustbusters of the 1990s, with lots of useful features for those who did more than just commute to work and drop off kids at school. Unfortunately for GM, the Aztek was staggeringly ugly, and Generation Xers were too damned broke to buy new cars in 2001, anyway. I see plenty of them in Denver-area wrecking yards now, along with their slightly-less-offensive-looking Buick Rendezvous siblings, and so I decided to document one before they're all gone. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Gear up, go for a stroll, or let it slide? Related Video: Featured Gallery Junked 2001 Pontiac Aztek View 11 Photos Auto News Pontiac Crossover pontiac aztek

Question of the Day: Most degraded car name?

When Ford came up with a not-so-sporty version of the Pinto and slapped Mustang badges on it in 1974, that was a low point for the Mustang name. When Chrysler applied the venerable Town & Country name on perfectly functional but unglamorous minivans, it saddened many of us. But perhaps the biggest demotion for a once-proud model came when, in 1988, General Motors imported a misery-enhancing Daewoo from Korea and called it the Pontiac LeMans. The original Pontiac LeMans was a great-looking midsize car with fairly advanced (for the time) suspension design and engine options including potent V8s and a screaming overhead-cam straight-six. The Daewoo-based Pontiac LeMans was a cramped, shoddy hooptie that served only to ruin the LeMans name forever, while stealing sales from the Suzuki-based Chevrolet Sprint. Sure, using the once-respected Monterey name on the Mercurized Ford Freestar was bad, but Mercury didn't have long to live at that point. I say the downward spiral of the LeMans name was the most agonizing in automotive history. What do you think? Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Auto News Ford Mercury Pontiac Automotive History Classics questions ford pinto names