1987 Fiero Gt T-top With Gm Lm1 V-8 Conversion 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:

The last Pontiac Fiero sold for $90,000 at auction

On August 16, 1988 the last Pontiac Fiero, a red GT model, rolled off the assembly line at GM's Pontiac Assembly plant located in Pontiac, Michigan. It wasn't just the final Fiero, but the final car to be built at that site. The car was raffled off to one of 1,400 plant employees that would soon have to find jobs elsewhere. Whoever that employee was, they remained faithful to the Fiero and kept it in mint condition for 32 years. Last month, it was finally time to move on. It crossed the block at GAA Auctions in Greensboro, North Carolina where it sold for an astounding $90,000. According to the auction house, that's a new world record. The price no doubt reflected the car's place in history as the last example of GM's 1980s mid-engined sports car. However, it was also showroom-new, with just 582 miles clocked on its 2.8-liter V6. 1988 models were also fitted with an upgraded, Lotus-esque suspension produced for just that one year. In addition, this car, serial number 226402, came with its original build sheet, photos from the assembly line, and a collection of news articles and books. It still wore its pre-delivery plastic on the interior and was fully loaded with automatic transmission. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The car's custodian for the past 32 years must be pleased. Bidding started at $25,000 but soon rocketed past the $65,000 reserve. You can see the action starting at the 2:50:13 mark in the video above. The Fiero was symbolic of the 1980s and stood out from the standard GM passenger car fare for its mid-engine layout and plastic body panels. In an era when GM often rebadged cars with minimal differences, the Fiero rode on its own unique chassis. It was positioned as one of the defining products for Pontiac, GM's "excitement" brand, but actual performance never quite lived up to its striking looks.  Nevertheless, it garnered a cult following. It's often the basis for (questionable) custom builds mimicking more exotic models like Ferraris and Lamborghinis, thanks to a steel space-frame design that allows body panels to be easily removed. Thankfully, this significant example escaped such a fate and will live on as a reminder of an interesting chapter of automotive history.

Junkyard Gem: 1991 Pontiac Grand Am LE with Quad 4 Engine

GM introduced the N-Body compact platform with the Oldsmobile Calais and Pontiac Grand Am for the 1985 model year and continued building N-based cars through 1998. Most of these cars weren't interesting from an enthusiast standpoint, but a handful rolled off the assembly line with raucous DOHC Oldsmobile Quad 4 engines and manual transmissions, and those cars were plenty of fun. Here's a 1991 Grand Am with that rare setup, photographed in a self-service yard in California's Central Valley. The base engine in the 1991 Grand Am was the 110-horsepower, 2.5-liter pushrod Iron Duke, an engine that might have been fine on a Romanian tractor in 1953 but had no place on an American street car as the 21st century approached. Fortunately, GM started bolting the modern 2.3-liter DOHC Quad 4 engine into 1988 cars, and this was a proper four-cylinder. The Quad 4 ran a little rough and uncivilized, and it had its share of reliability problems, but you could rev the piss out of it and it made good power. In 1991, this engine was rated at 180 hp. That made this 2,592-pound sedan pretty quick. Unfortunately, the slushboxization of America had progressed with depressing rapidity during the 1980s, and by 1991 most Grand Am buyers — even the ones who opted for the Quad 4 — chose the automatic transmission. That didn't happen with this car, though — it boasts a rugged Getrag 5-speed instead of the happiness-amputating three-speed automatic. Yes, that's the kind of odometer reading you'd expect to see on an Accord or Maxima from this era. Someone loved this car and took care of it. Here we see an interesting mix of 1980s and 1990s car-radio technology. CD players in cars were still costly luxury items in 1991, seldom seen in affordable cars like the Grand Am, while 1980s-style slider-style EQ controls were on the way out. This Delco unit straddles both decades nicely. I seek out Quad 4-equipped cars during my junkyard travels, and I have photographed quite a few: this '89 Cutlass Calais, this '90 Cutlass Calais, this '90 Grand Am, this '91 Quad 442, this '93 Achieva SCX, and this '98 Cavalier Z24. It's a shame that Buick never put the Quad 4 in the Reatta, which was a fine car ruined by a somnolent and obsolete V6. The music in this ad is even more early-1990s than Crystal Pepsi. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.