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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 Grand Prix GTP

John DeLorean began his career working on Packard's Ultramatic Twin transmission, but he made his greatest mark on the automotive industry during his 1956-1969 tenure at GM's Pontiac Division. There, he helped develop the first production car engine with a quiet timing belt instead of a noisy chain, among other engineering feats, but his real fame came from the development of two money-printing models based more on marketing than machinery: the GTO and the Grand Prix. While the GTO gets all the attention now, the Grand Prix set the standard for the big-selling personal luxury coupes that sold like mad for decades to come. Today's Junkyard Gem is an example of the most powerful Grand Prix available at the turn of the century, found in a Denver-area self-service yard during the summer. The Grand Prix got front-wheel-drive for 1988 and a sedan version for 1990, but then something very beneficial happened in the 1997 model year: supercharging! Various flavors of the venerable 3.8-liter Buick V6 engine (itself based on the early-1960s Buick 215 V8 and thus cousin to the Rover V8) received Eaton blowers, starting in the 1992 model year. The Grand Prix didn't get its introduction to forced induction until the 1997 model year, but it kept the boosted option until the final Grand Prix rolled off the line in 2008 (the final Pontiac followed within a couple of years). This one made 240 horsepower, making it King of Grand Prix engines until the 2005 model year (when the GXP and its 303-horse V8 engine showed up). The very last year for a Grand Prix with a manual transmission was 1993 (there had been a three-pedal Grand Prix drought from 1973 through 1988, just to put things in perspective), so this car has the mandatory four-speed automatic. The Grand Prix lived on GM's W platform for its last two decades, making it sibling to the Impala, Regal, and Intrigue in 2001. Until the 2004 model year, every W-Body Grand Prix was built at Fairfax Assembly in Kansas City (no, the other Kansas City). Production of the final generation of Grand Prix took place in Ontario. It seems fitting that this car's final pre-crusher parking spot would be between two other GM products of the same era: a Monte Carlo and a Vibe. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

NHTSA could add 1M cars to GM recall

The Detroit Free Press is reporting that the National Highway Traffic Safety Administration may expand a recall campaign for faulty brake lamps. The agency is currently looking into complaints that certain 2004-2011 Chevrolet Malibu models as well as some 2007-2009 Saturn Aura sedans may have brake lights that do not illuminate when the driver presses the pedal. Alternatively, the lamps may also illuminate without input from the driver. General Motors recalled 8,000 Pontiac G6 models from the 2005 model year for the same problem, and NHTSA is currently investigating whether to add 550,000 more G6 models built between 2005 and 2009 to the list for the same issue.
In addition, investigators are currently examining 97 complaints from Malibu and Aura owners with the same trouble. If NHTSA adds those models to the recall campaign, more than one million units could be covered. GM, meanwhile, says there have been no accidents or injuries as a result of the problem.