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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:

GM recalling over 40,000 Chevy, Pontiac and Saturn models over fuel pump woes

The National Highway Traffic Safety Administration has issued a recall for a number of General Motors cars and crossovers bought or currently registered in the hot-climate states of Arkansas, Arizona, California, Nevada, Oklahoma and Texas. As many as 40,859 units consisting of the 2007 Chevrolet Equinox, Pontiac Torrent and Saturn Ion and the 2007-2009 Chevrolet Cobalt (shown) and its Pontiac G5 twin are being recalled for potential fuel leaks.
This recall is being issued due to potentially faulty fuel pump components that can crack and cause gasoline to leak from the return or supply ports and possibly cause a fire. NHTSA has not indicated how many fuel leaks or vehicle fires have been reported. As a fix, GM will replace the fuel pump modules on all affected vehicles free of charge. Since Pontiac and Saturn have been shuttered, owners will be able to go to another GM-brand dealership to have their vehicles repaired.
While the list of affected cars and crossovers varies by state and model year, if you own any of these models and live in Arizona, California, Florida, Nevada, Oklahoma or Texas, be sure to check the official notice below for more details.

Junkyard Gem: 1986 Pontiac Sunbird Sedan

The J-Body platform was a giant seller for GM, staying in production from the first 1981 Chevrolet Cavalier all the way through that final 2005 Pontiac Sunfire. Outside of North America, Opels and Daewoos and Isuzus and Holdens and Vauxhalls and even Toyotas flew the J flag, and better than ten million rolled out of showrooms during that quarter-century. In the United States, Chevrolet, Oldsmobile, Pontiac, Buick, and Cadillac each sold J-Bodies. Of those, the Pontiac Sunbird often had the sportiest image, more cavalier than even the Cavalier Z24. I've documented a discarded Sunbird Turbo in the past, and now here's a bread-and-butter Sunbird sedan from the same era. The Sunbird name began its life in 1976 on the Pontiac-badged version of the rear-wheel-drive Buick Skyhawk, itself based on the Chevy Vega. The first J-Body Pontiacs had J2000 badges, then 2000 badges, then 2000 Sunbird badges, until finally the pure non-2000 Sunbird appeared for the 1985 model year. I remain disappointed that the 2000 name didn't survive into our current century, because we could have had a 2000 Pontiac 2000, or just the "2000 2000" for short. The base engine in the '86 Sunbird was this SOHC 1.8-liter four of Brazilian origin, rated at 84 horsepower. Originally developed by Opel in the late 1970s, this engine family went into cars built all across the sprawling GM empire. 84 horsepower doesn't sound like much— and it wasn't much, even by 1986 standards— but at least the original buyer of this car had the smarts to get the five-speed manual transmission. This car weighed just 2,336 pounds, a good 500 pounds lighter than the current Chevy Sonic, so performance with the manual transmission was tolerable. The '86 Sunbird's interior was much nicer than those in its Cavalier siblings, though nowhere near the Cadillac Cimarron's reading on the Plush-O-Meter. An AM/FM/cassette stereo with auto reverse was serious audio hardware in a cheap car during the middle 1980s, when even a scratchy factory AM-only radio cost the equivalent of several hundred 2020 bucks. The price tag of this car started at $7,495, or about $17,500 in 2020 dollars. The cheapest possible Cavalier sedan went for $6,888 in 1986, but a zero-option base '86 Cavalier would make you think you'd been transported to the Soviet Union every time you slunk into its harsh confines. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.