2001 Pontiac Grand Am Se Coupe 2-door 2.4l 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:

Remember when Pontiac made a Trans Am Kammback grocery getter?

Despite muscle cars having strong reputations as some of the most impractical cars one can buy, they've occasionally had one of the most useful and practical features a car can sport: a hatchback. In the 1980s, General Motors' Chevrolet Camaro and Pontiac Firebird had one, and it added respectable utility to the sports cars. But the people at GM thought they could make the F-Body cars even more useful. So, after a few clay-model experiments, Pontiac built three examples of an extended-roof 1985 Pontiac Trans Am Kammback concept. Spotted by GM Authority, one of these Trans Am Kammbacks (although "shooting brake" seems like the more apt descriptor) is going on the block at the Mecum Kissimmee auction in early January 2019. Reportedly only three of these prototypes/experiments/test mules were built to driveable specs, and this example, VIN No. EX4796, has additional history that might make it the ultimate example. According to Mecum, the show car, which has made appearances at numerous auto shows, also spent some time at the race track — just not as a participant. It was used as a pace car for PPG and IMSA racing and temporarily had a light bar and "two-way communications equipment." Following its pace duty, and after GM stopped the project from going any further, it was put into Pontiac Engineering's private collection for 13 years. Famous Michigan car collector and Pontiac dealership owner John McMullen then bought the car. He eventually sent it to Pontiac specialist Scott Tiemann for a full restoration to the gorgeous condition it is in today. As seen in the photos, the Trans Am features white paint over a gray leather interior. It houses a 5.0-liter V8 under the hood and has a five-speed manual transmission. The wild concept is rare enough to be super cool, but we can't help but think of an infinitely more practical, more modern, more powerful, and arguably more interesting car we'd rather have. Manual Cadillac CTS-V Sport Wagon in Black Diamond anybody? Or, if you don't care about the extra doors, perhaps the Callaway's Corvette AeroWagen is more applicable. Either way, we're in full support of any shooting brakes we can find. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

GM recalling 778,000 Cobalts and G5s, six deaths reported

General Motors has announced that it will be recalling 778,562 compact cars after six people were killed in accidents, partially due to the airbags' failure to deploy. An issue with the ignition switch is causing the airbag issues, as well as causing the engine and other components to shut off without warning. The recall covers the 2005 to 2007 model year Chevrolet Cobalt and 2007 Pontiac G5. (Note that the Cobalt pictured above is a 2009 model.)
According to a report from Automotive News, a number of factors can cause the ignition to switch out of the run position, including weights on the key ring, rough or bumpy roads or other "jarring" events. Any of these situations could lead to some vehicle components not functioning properly.
There have been five fatal front-impact crashes that took the lives of six people, although as a GM spokesman noted, all five of the crashes happened off road and at high speed. In each of these cases, though, the lack of airbags wasn't the only lethal factor - alcohol and failure to wear a seat belt also played a role. Outside of the fatal accidents, there have been 17 other crashes where airbags didn't deploy. It's unclear if any of these crashes were caused by the engine shutting off.