2004 Pontiac Gto Yellow Jacket 6 Speed Manual Transmission Very Rare! Low Miles! on 2040-cars

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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 expands ignition switch recall to over 1.3 million cars amid climbing death toll

588,000 Saturn Sky, Saturn Ion, Pontiac Solstice and Chevy HHR models join the 778,000 cars already being recalled.
General Motors has announced a massive expansion of a 778,000-unit recall we told you about two weeks ago, doubling not only the total number of cars affected but expanding the recall beyond Chevrolet Cobalt and Pontiac G5 models previously mentioned. The recall originally centered around ignition switches that could slip out of the "run" position if jostled or if any weight was applied to the key in the cylinder.

Junkyard Gem: 1988 Pontiac LeMans Sedan

During the 1960s, the Pontiac LeMans was a sporty, rear-wheel-drive midsize car, the GTO's cheaper sibling. Through the 1970s and into the middle 1980s, the LeMans became a bit less youthful-looking but remained a traditional rear-wheel-drive Detroit machine with a V8 engine option. Then, starting in the 1988 model year, the LeMans name went onto a South Korean-built version of the misery-inducing, front-wheel-drive Opel Kadett E. These were dark days for the Pontiac marque; here's the proof, photographed at a San Francisco Bay Area self-service wrecking yard last month. This one didn't quite make it to the 100,000-mile mark. These cars were very, very cheap and sold reasonably well, but nearly all of the 1988-1993 LeManses are hatchbacks. I have seen a total of two Daewoo LeMans sedans during the last decade, and this is one of them. Under the hood, 74 raging Opel/Daewoo horsepower. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In this car's homeland, it benefited from extremely macho South Korean voiceovers in its television advertising. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. In the United States, the ads for the LeMans were all about the hatchback, and all about cheap excitement. Related Video: Featured Gallery Junked 1988 Pontiac LeMans Sedan View 12 Photos Auto News Pontiac