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What's driving the spike in air-cooled Porsche 911 prices

Classic car prices have been racing skyward in general, but prices for air-cooled (pre-1999) Porsche 911s are ascending like they're strapped to rocket boosters. It's been going on for years, and every year people are surprised by how outrageous it's getting: Classic Driver covered it this month, as did The Truth About Cars who included this example of a "scruffy" 1993 RS America with 215,000 miles asking $80K; Mike Spinelli at Drive riffed on it at length last year along with a host of classic-car-market observers; Porsche forums were at it two years ago; and let's not even get into the 993 Turbo, going for prices so high you have to lie down to look at them. Speed Academy has run a piece looking at why it's happening, one theory being that regular-guy owners are hopping on the runaway-price wagon without any good reason. As in the example of that high-mileage, scruffy 911 RS America at Bring a Trailer, the owner sees pristine examples valued by Hagerty at $170,000, and even though the average value is $93,238 he thinks something like, "Mine's got to be worth half of top dollar ..." The tide - even one rising on air - makes it hard to find decent prices. Then there is the flood of money into the market. In spite of articles that try to temper investors' outlooks on collectible cars, other articles in places like the Financial Times and the Guardian promote vintage metal as a safe place to put money and reap astonishing returns. Speed Academy thinks one side effect of high 911 prices is that responsible enthusiasts are turning their attention to cars like the BMW 2002, E30 M3, and E9 3.0CS, saying their prices are "sharply on the rise." The entire article is worth a read since it goes into markets far afield from pricey German steel, but incredibly, the entire piece was actually inspired by a 1997 Acura Integra R that sold for $43,000 on eBay. So while this could be the best time to get into the classic car market if you know what you're doing, it is certainly the best time to do your homework. Related Video:

Saturn Vue ignition switch leads to new group of GM recalls totaling 312k

General Motors has another spate of recalls to announce. This time they cover 312,280 vehicles worldwide, including 269,041 of in the US, in a total of six campaigns. In 2014, the automaker has recalled 29,079,765 vehicles worldwide, with 25,754,356 of those in the US.
The largest among them covers 215,243 units of the Saturn Vue from 2002-2004 model years worldwide, 202,115 in the US. It's possible for the for the key to be removed even when the ignition isn't in the OFF position. The company knows of two crashes and one injury caused by this problem. Dealers are checking the parts and replacing the ignition cylinder and key set, if necessary.
Next is 72,826 models worldwide (48,059 vehicles in the US) of the 2013 Cadillac ATS four-door sedan, 2013 Buick Encore and 2013 Chevy Trax in Canada. It's possible that the for lap belt pretensioner to retract but not to lock, which could increase occupant movement during a crash. Both front, outboard lap belt pretensioners are being replaced, and a stop-sale is in effect on unsold models until the problem is repaired. There are no known crashes or injuries, though.

GM's got 107 problems and NHTSA's No. 1

General Motors' problems with its recall of roughly 1.6-million vehicles continue to mount. Now that it has emerged that GM knew about the problem since at least 2004 but waited to recall vehicles until February 2014, regulators at the National Highway Traffic Safety Administration have begun a much deeper investigation. NHTSA has sent a 27-page survey to GM that includes 107 questions about the timeline of what led up to the recall, and it has until April 3 to reply. This isn't a simple, multiple-choice test. Automotive News believes that hundreds of pages could be required to answer some of the queries. NHTSA says that it is still investigating GM's response to the recall. "We are a data-driven organization, and we will take whatever action is appropriate based on where our findings lead us," said NHTSA in a statement on its website. If found liable, the automaker could face a fine as high as $35 million and even possible criminal charges, according to Bloomberg. NHTSA's questions include a detailed explanation of GM's examination process; how it will improve the process; why a planned redesign of the cars' key in 2005 wasn't implemented; and specific data on each complaint it received. According to Bloomberg, NHTSA also has records that show the company had a meeting with regulators to discuss the airbag failure in a Chevrolet Cobalt in 2007. New GM CEO Mary Barra has also hired an outside law firm to conduct an independent investigation about what happened. It will include questioning company employees who were involved with the process from the start. The recall stems from faulty ignition switches that shut off the car while driving, and if it occurs the airbags deactivate. Thirteen deaths and 23 crashes have been caused by the problem, according to Bloomberg. If you would like to peruse NHTSA's entire questionnaire for GM, it can be viewed here. News Source: Automotive News – sub. req., National Highway Traffic Safety Administration, BloombergImage Credit: Carlos Osorio / AP / dapd Government/Legal Recalls GM Pontiac Saturn Safety pontiac solstice saturn ion saturn sky pontiac g5