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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:

Volkswagen may soon have remedy for more cheating diesels

Nearly a half-million motorists who own Volkswagens equipped with 2.0-liter engines have known for a few weeks the company might wind up buying back their vehicles as part of a settlement surrounding the company's emissions cheating. But about 85,000 drivers who own similarly afflicted diesels with 3.0-liter engines have been stuck without a remedy. They may not be waiting much longer. Bloomberg reports that Volkswagen will soon propose a fix for vehicles, including those from Audi and Porsche, equipped with 3.0-liter engines that will include new software and a new catalytic converter for the vehicles. Discussions with federal regulators are ongoing, according to the news outlet. "We are cooperating with the regulatory agencies and working with them on an approved solution," says Audi spokesperson Mark Clothier. "Beyond that, we cannot comment on ongoing investigations." Regulators have alleged that the company's 3.0-liter engines contain "defeat devices," illegal software that allows a vehicle to detect when it's undergoing an emissions test and turn off pollution control during real-world driving. The defeat device allows these vehicles to increase emissions of nitrogen oxide up to nine times the Environmental Protection Agency's allowable threshold. Affected 3.0-liter vehicles include the 2014 Volkswagen Toureg, 2015 Porsche Cayenne and the 2016 Audi A6 Quattro, A7 Quattro, A8, A8L and Q5. Volkswagen is slated to finalize its plans for buying back the afflicted 2.0-liter cars and potentially offer those motorists "substantial compensation" for their troubles by June 21, and it's possible that a formal announcement on the 3.0-liter vehicles would come at the same time. Related Video:

Porsche Macan to debut at LA Auto Show

Auto Express reports Porsche will unveil the upcoming Macan SUV at this year's LA Auto Show. Citing an unnamed "insider," AE says that the five-door will bow with engines, suspension and interior architecture that will help differentiate it from its Audi Q5 chassis mate. Big shocker there. We've been hearing the same line since we first caught word of the Macan back when it was still rolling around under the Cajun name. The report does shed some light on the model's pricing, however. That same insider says the Porsche Macan will carry a price tag of 36,000 pounds.
What does that mean for American buyers? Do some quick math based on current conversion rates, and average UK and US prices, and we come up with a sticker of roughly $42,000 here in the land of the free. That fits in line with the rest of the company's stable, with the larger Cayenne starting at $49,600.
Still, we'll wait for more concrete word before jumping behind the AE report wholeheartedly. The 2013 LA Auto Show gets going in late November.