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What's driving the spike in air-cooled Porsche 911 prices

Classic car prices have been racing skyward in general, but prices for air-cooled (pre-1999) Porsche 911s are ascending like they're strapped to rocket boosters. It's been going on for years, and every year people are surprised by how outrageous it's getting: Classic Driver covered it this month, as did The Truth About Cars who included this example of a "scruffy" 1993 RS America with 215,000 miles asking $80K; Mike Spinelli at Drive riffed on it at length last year along with a host of classic-car-market observers; Porsche forums were at it two years ago; and let's not even get into the 993 Turbo, going for prices so high you have to lie down to look at them. Speed Academy has run a piece looking at why it's happening, one theory being that regular-guy owners are hopping on the runaway-price wagon without any good reason. As in the example of that high-mileage, scruffy 911 RS America at Bring a Trailer, the owner sees pristine examples valued by Hagerty at $170,000, and even though the average value is $93,238 he thinks something like, "Mine's got to be worth half of top dollar ..." The tide - even one rising on air - makes it hard to find decent prices. Then there is the flood of money into the market. In spite of articles that try to temper investors' outlooks on collectible cars, other articles in places like the Financial Times and the Guardian promote vintage metal as a safe place to put money and reap astonishing returns. Speed Academy thinks one side effect of high 911 prices is that responsible enthusiasts are turning their attention to cars like the BMW 2002, E30 M3, and E9 3.0CS, saying their prices are "sharply on the rise." The entire article is worth a read since it goes into markets far afield from pricey German steel, but incredibly, the entire piece was actually inspired by a 1997 Acura Integra R that sold for $43,000 on eBay. So while this could be the best time to get into the classic car market if you know what you're doing, it is certainly the best time to do your homework. Related Video:

GM replacing passenger airbags in over 243,000 Pontiac Vibes

General Motors is repairing over 243,000 additional examples of the 2003-2007 Pontiac Vibe in the US and Canada to replace their Takata-supplied passenger-side airbag inflators. The company has no reports of irregular deployments in the models, though. These aren't actually newly included vehicles in the massive safety campaign. As a twin to the Toyota Matrix, the Vibe was already included in Toyota's figures, but as Pontiac-branded vehicles, GM dealers are taking care of these replacements. They have been covered as part of the Takata campaign in the past. Toyota expanded its own Takata recall to passenger-side components for 1.365 million vehicles on June 16. Earlier, General Motors also issued a campaign for 330,198 examples of the 2007 and 2008 Chevrolet Silverado 2500HD, 3500HD, GMC Sierra 2500HD, and 3500HD pickups to replace their passenger-side parts. After exposure to moisture, it's possible for these inflators to ignite too quickly in an accident and spray shrapnel at occupants. GM Statement The Vibes are included in two Toyota recall campaigns - one for high absolute humidity (HAH) areas and one for non-HAH areas. Both are considered national recalls even though only vehicles in certain HAH states and territories are in the recall. Total Pontiac Vibe passenger air bag numbers for MY 2003-2007 (U.S. and Canada only): High Absolute Humidity 89,719 Non High Absolute Humidity areas 252,685 These are the totals, which include about 99,000 previously recalled. GM knows of no field issues - irregular deployments - with these air bag inflators.

GM repairing 40,500 Pontiac Vibes as part of Toyota airbag recall

General Motors has confirmed to Autoblog that the Pontiac Vibe is included in Toyota's just-announced recall action. The Vibe and the Toyota Matrix share a large number of parts, including the affected cable to the airbag.
"About 40,500 Pontiac Vibes from the 2009-2010 model years are included in the Toyota recall. Toyota designed and engineered the Vibe for Pontiac. GM will service customers with these vehicles when Toyota makes the parts available," said GM recall spokesperson Alan Adler to Autoblog in an email.
The recall covers 1.3 million Toyota units in the US, including 2009-2010 Corolla, Matrix and Tacoma, the 2008-2010 Highlander, the 2006-2008 Rav4 and 2006-2010 Yaris, plus the addition of the 2009-2010 Vibe. The models all have their airbag module attached via a spiral electrical cable. The connections on this cable can be damaged when turning the steering wheel. Once broken, the airbag deactivates and the airbag warning light comes on. Toyota has an improved part, but it's still making preparations to begin repairs. It will begin notifying owners soon.