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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:

How to turn a Pontiac Fiero into a trackday car

Imagine hitting the track in a mid-engine, rear-wheel drive sports coupe that's affordable and has pretty good parts availability. It might sound like a pipe dream, but it's actually quite possible, if you're willing to think a little outside the box. The Pontiac Fiero is out there just waiting for a little work to turn it into a competent racing machine.
Think about it for a second. Of course, we would all like to be snaking through the curves in something exotic, but what happens when you crash or something breaks? The bills are going to mount up quickly. However, if you ball up a Fiero at the track, as long as you're not hurt, then it's not a huge tragedy.
That's basically the story of Steven Snyder in a new video from Drive starring Matt Farah. Snyder wanted to go to the track cheaply and ended up with an awesome little Fiero with a huge wing and a claimed 220 horsepower at the wheels thanks to a V6 from a Chevrolet Lumina. Check out the video to see how this pint-size Pontiac performs.

Florida man runs down bikers in traffic

A Florida biker and his passenger got a nasty surprise when a road rage incident turned ugly on Monday. According to WTSP, Joe Calderazzo was returning from a Veterans Memorial Day motorcycle rally around 5:30 pm with a group of fellow riders. During their ride, the group got entangled with an overly aggressive driver in a Pontiac. Abe Garcia of Tampa watched the silver Pontiac attempt to run the pack of bikers off the road, which started the altercation. The bikers caught up to the Pontiac in stopped traffic, and a shouting match ensued between the bikers and the Pontiac driver. At this point, Garcia pulled out his phone and started recording. The exchange escalated, and suddenly the Pontiac driver floored it, turned hard to the right, and ran over Calderazzo's Harley. The Pontiac mangled the Harley and knocked Calderazzo and his passenger to the ground. The Pontiac then fled the scene. WTSP spoke to Calderazzo as he was on his way to the hospital. "I thought the guy was trying to kill us obviously," said Calderazzo. "You know you don't know what's going through your mind. Is he going to put the car in reverse? Is he going to turn around? Is he going to stop and pull out a gun? You don't know what's going on." The Pontiac driver, a serial traffic offender named Robert Paul Vance, was picked up by police soon after the incident. He is charged with hit-and-run, a moving traffic violation, and aggravated battery. Related Video: News Source: WTSP Weird Car News Pontiac Driving Safety Motorcycle Videos Sedan Navy road rage pontiac g6 Memorial Day veterans Florida Man tampa