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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:

Toyota urges owners of old Corolla, Matrix and RAV4 models to park them until airbags are replaced

DETROIT — Toyota and General Motors are telling the owners of about 61,000 older Corolla, RAV4, Matrix/ Pontiac Vibe models to stop driving them because their Takata airbag inflators are at risk of exploding and hurling shrapnel. The urgent warning Monday covers: Certain Corolla compact cars and Matrix hatchbacks from the 2003 and 2004 model years. RAV4 small SUVs from 2004 and 2005. Also covered are about 11,000 Pontiac Vibes from 2003 and 2004, which are essentially the same as the Matrix and were made at the same California factory. Most of the vehicles are in the U.S. “If the airbag deploys, a part inside is more likely to explode and shoot sharp metal fragments, which could cause serious injury or death to the driver or passengers,” Toyota said in a statement. Owners can go to nhtsa.gov/recalls and enter their 17-digit vehicle identification number to see if their cars are affected. If you're not the original owner of the vehicle, the manufacturer's recall letter might not reach you, so be sure to do the VIN check. The recalled RAV4s have Takata driver's airbags while the Corolla and Matrix models have them on the passenger side. The Corolla and Matrix also are under a separate recall because their airbags can be deployed without a crash, the company said. Both companies said owners should contact a local dealer instead of driving the cars in for repairs. Dealers will provide options such as mobile repair, towing the car to a dealer, or vehicle pickup and delivery. Takata used volatile ammonium nitrate to create a small explosion to inflate airbags in a crash. But the chemical propellant can deteriorate over time when exposed to high temperatures and humidity. It can explode with too much force, blowing apart a metal canister and spewing shrapnel. At least 26 people have been killed in the U.S. by Takata inflators since May 2009, and at least 30 have died worldwide including people in Malaysia and Australia. In addition, about 400 people have been injured. The exploding airbags sent Takata of Japan into bankruptcy. The potential for a dangerous malfunction led to the largest series of auto recalls in U.S. history. About 100 million inflators were recalled worldwide. Recalls Pontiac Toyota Takata airbag recall

Sell Your Own: 2006 Pontiac GTO

This is part of an occasional look at cars for sale in Autoblog's classifieds. Want to sell your car? We make it easy and free. Quickly create listings with up to six photos and reach millions of buyers. Log in and create your free listings. In the early '60s, Baby Boomers born immediately after World War II were beginning to buy cars and enjoy their own distinctive music. This wasn't yet the drug culture; rather, it was the drag culture, more Jan and Dean "Dead Man's Curve" than Beatles "Lucy In The Sky." And a Baby Boomer's desired ride, more often than not, was Pontiac's GTO. Introduced as a manned-up option for Pontiac's compact Tempest, the early GTO was 389 cubic inches of romp and stomp. And with a marketing campaign that hit Middle America via what it watched and ate (TV ads and cereal-box promos were a big part of the GTO launch), there was no escaping it. Like most performance coupes and convertibles, 10 years later it was became an emasculated version of its once lusty self. And then it was gone. Its revival, championed by General Motors executive Bob Lutz, was not by any stretch the Second Coming. Starting in 2004, GM modified its Australian-built Holden Monaro to approximate the excitement of the original formula: a coupe body propelled by a big V8. But the Holden's sheetmetal was quietly styled, and even the 400 horsepower available by 2006 didn't electrify buyers. With hindsight, the resurrected GTO is enjoying more attention and, slowly but surely, increasing in value. This for-sale example shows well, enjoys low mileage, and is – naturally – priced well above what is perceived to be its market value. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.