1969 Pontiac Firebird 400/400 Convertible Windward Blue 3.55 Posi Rally Cluster 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:

Junkyard Gem: 1996 Pontiac Grand Am SE Coupe

The Grand Am was the best-selling Pontiac model in the United States for every year of the 1990s, and it outsold most of its N-Body platform-mates (including the Chevrolet Corsica/Beretta) during nearly all of that decade. A sporty-looking compact with two or four doors, the Grand Am offered true 1990s radness—and, in some cases, respectable performance — at a good price. Today's Junkyard Gem is a nicely preserved example of the facelifted 1996 Grand Am, found in a Denver-area car graveyard. This is an SE Coupe with base engine and transmission, the most affordable Grand Am available in 1996. List price was $13,499, or about $26,523 in 2023 dollars. The factory-issued Monroney sheet for this car was still inside, so we can see that the original buyer got the car at Bob Ruwart Motors in Wheatland, Wyoming (about 175 miles up I-25 from this Pontiac's final parking spot), and paid a total of $16,054 ($31,543 in today's money) after the cost of options and the destination charge. The '96 Grand AM SE buyer had to pay extra for cruise control, air conditioning, power windows, rear glass defogger and other features we now take for granted on new cars. The base engine was the 2.4-liter Twin Cam four cylinder, a member of the screaming Oldsmobile Quad 4 family. This one was rated at 150 horsepower and 155 pound-feet. A 3.1-liter V6 with 155 horses and 185 pound-feet was an option. If you got the V6 in your '96 Grand Am, however, you couldn't get a manual transmission. This car has a proper five-speed manual, which made for fun driving with the high-revving Twin Cam engine in a machine weighing just 2,802 pounds (which is quite a bit less than what the current Honda Civic weighs). It traveled just over 160,000 miles during its 27 years on the road. The body and interior were still in fairly good condition when the car arrived here, so we can assume that some expensive mechanical problem doomed this car. Perhaps the original clutch wore out and the owner didn't consider it worth replacing. After all, a mid-1990s Detroit two-door with a transmission most people can't drive isn't worth much these days. Though nobody knew it when this car was new, the Grand Am would be gone in nine years and Pontiac itself would get the axe five years after that. It makes the ordinary extraordinary. Husbands and wives would argue for 12 hours over who got to drive the Grand Am, if we are to believe this ad. Proud sponsor of the 1996 Olympic team.

Saturn Vue ignition switch leads to new group of GM recalls totaling 312k

General Motors has another spate of recalls to announce. This time they cover 312,280 vehicles worldwide, including 269,041 of in the US, in a total of six campaigns. In 2014, the automaker has recalled 29,079,765 vehicles worldwide, with 25,754,356 of those in the US.
The largest among them covers 215,243 units of the Saturn Vue from 2002-2004 model years worldwide, 202,115 in the US. It's possible for the for the key to be removed even when the ignition isn't in the OFF position. The company knows of two crashes and one injury caused by this problem. Dealers are checking the parts and replacing the ignition cylinder and key set, if necessary.
Next is 72,826 models worldwide (48,059 vehicles in the US) of the 2013 Cadillac ATS four-door sedan, 2013 Buick Encore and 2013 Chevy Trax in Canada. It's possible that the for lap belt pretensioner to retract but not to lock, which could increase occupant movement during a crash. Both front, outboard lap belt pretensioners are being replaced, and a stop-sale is in effect on unsold models until the problem is repaired. There are no known crashes or injuries, though.