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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:

GM recalling 426,000 sedans over faulty transmission shift cable

General Motors is recalling some 426,240 sedans that may have a faulty transmission shift cable, according to a National Highway Traffic Safety Administration report this morning. The recall concerns a fault within four-speed automatic transmissions equipped on 2007-2010 Saturn Aura models, and 2008-2010 Chevrolet Malibu and Pontiac G6 models.
The report specifies that tabs on the transmission shift cable may fracture and separate. Such a fault could cause a discrepancy between the actual position of the transmission and the apparent position of the shift lever.
GM is currently working to notify owners of the vehicles in question, and dealers will check and replace shift cables free of charge. Scroll down to read the complete NHTSA report.

Junkyard Gem: 2001 Pontiac Bonneville SSEi

The General's Pontiac Division sold Bonnevilles from 1958 through 2005, which turned out to be well over half of the marque's existence. Named after the Bonneville Salt Flats, some Bonnevilles were huge but pretty quick, others were slow-motion land yachts, and some were nearly indistinguishable from their Buick and Oldsmobile brethren. The final generation, sold for the 2000 through 2005 model years, were among the quickest and most distinctive-looking Bonnevilles ever built, but they arrived in showrooms at a time when the clock was ticking for the division's very survival. Today's Junkyard Gem is one of those cars, an '01 with the hot-rod SSEi package. The Bonneville SSEi first appeared in the 1992 model year, just a year after the Buick Park Avenue Ultra was the first of many GM cars to get the 3.8-liter Buick V6 with an Eaton supercharger bolted on top. Production of the Bonneville SSEi continued through the 2003 model year, after which the GXP version and its Cadillac Northstar V8 took over. The 2001 version of this engine made 240 horsepower, good for plenty of torque-steery fun. Could you get this car with a manual transmission? What do you think? Some cursory research indicates that 1970 was the last model year for a three-pedal Bonneville, and even those cars must be incredibly rare. This one looks to have been in nice shape when it arrived here, with the original manuals still in the glovebox. By 2006, the Bonneville was gone; four years later, Pontiac was gone. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Stop all black Bonnevilles!