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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:

Pontiac Aztek rises from the ashes of infamy in Firebird Trans Am guise

What if the Pontiac Aztek, one of the most widely ridiculed vehicles ever built, was reimagined with a little flair from one of the former brand’s more legendary cars? Well, it turns out that someone not only came up with that idea, but followed up on it. And so, we present to you the Pontiac Aztek Firebird Trans Am, uh, trim package? ItÂ’s not real, of course, but it comes from Abimelec Arellano, an Hermosillo, Mexico-based car designer with too much time on his hands who goes by the name Abimelec Design. Arellano redesigned the midsize SUVÂ’s wimpy front fascia to surprising success by simply adding widened fender flares and perhaps modernizing the headlights. He also went all-in embracing the AztekÂ’s abrupt, flattened rear end by removing the rear bumper lip, adding a slightly more aggressive rear spoiler to boot. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Elsewhere, the dominating and cheap-looking gray plastic under-cladding is gone in favor of body-color panels. Arellano also added some probably larger Pontiac Snowflake wheels with gold accents that really make them pop and play well against the signature Firebird decal dominating the hood. Commenters generally fall into one of two buckets. As one put it, “I never thought the Aztek could look this good.” Others implored Arellano to do a version with a T-top. Or as one Autoblog editor put it, “So it turns out the reason the Aztek was a laughingstock failure is that it didnÂ’t come in a Smokey and the Bandit Edition. Somewhere, a dude who got shouted down in a product-planning meeting years ago is vindicated.” Sold between 2001 and 2005, the Aztek arguably reached the pinnacle of its notoriety as the metaphor for the drab, underachieving life of Walter White in AMCÂ’s meth drama, “Breaking Bad.” It came equipped with a 3.4-liter V6 that made 185 horsepower and sent it through a four-speed automatic to the front wheels, with an all-wheel drive version also available. The Aztek may have the last laugh, especially if it gets a screaming chicken. “The fact it was a controversial design and didnÂ’t sell well will make it an object of curiosity from a historical standpoint many years from now,” McKeel Hagerty, president and CEO of classic-car insurer Hagerty Insurance, told Autoblog back in 2016.

GM recalls 61k more vehicles in three campaigns

Following a stop-delivery order for its new midsize trucks and a rash of recent recalls, General Motors is issuing three more campaigns covering 60,575 vehicles in North America with 57,182 of them in the US. As of October 1, the automaker has issued a total of 74 recalls (see the ridiculously long chart to the right) this year covering 26,495,070 units in the US.
The largest campaign covers 46,873 examples in the US of the 2008-2009 Pontiac G8 and 2011-2013 Chevrolet Caprice Police Patrol Vehicle imported from Australia. It's possible for the driver's knee to hit the key and make it move from the "Run" to "ACC" position while driving. GM says its Holden division is developing a fixed-blade key that's supposed to fix the problem by only allowing it to rotate toward the "On" position. There has been one crash caused by this fault but no injuries or fatalities.
The second recall is for 10,005 units of the 2004-2007 Cadillac CTS-V and 2006-2007 Cadillac STS-V because "the fuel pump module electrical terminal may overheat." This can cause a flange to melt and allow the pump to leak fuel. GM specifies that the remedy for the CTS-V is replacing the fuel module and fuel tank jumper harness, but it doesn't specify how the STS-V is being repaired.