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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:

Burt Reynolds' movie re-creations fetch $379,500 in Vegas

The recent death of Hollywood legend and automotive enthusiast Burt Reynolds helped drive up the value of four of his former cars from the 1970s and '80s, which sold last weekend at Barrett-Jackson's Las Vegas auction for a combined $379,500. Reynolds, who died Sept. 6 at age 82, had offered three Pontiac Trans Ams — two of them re-creations of the cars he drove in "Smokey and the Bandit" and "Hooper" and the third from 1984 used to promote his United States Football League team, the Tampa Bay Bandits. The fourth was a 1978 Chevrolet R30 pickup truck, styled like the one featured in "Cannonball Run." The "Bandit" re-creation, a 1978 Pontiac Firebird Trans Am that Reynolds ordered to be as "movie-correct" as possible but featuring a custom-built 200-4R automatic transmission, sold for $192,500. The car features a freshly built Pontiac 400 cubic-inch V8 mated to a four-speed automatic and featuring all-new Butler Performance parts and air-conditioning components. Reynolds reportedly said this was his favorite car from his films, and it even came with an authentic movie-correct CB radio and CB antenna. The red retro-rocket "Hooper" '78 Firebird, with a 403 cubic-inch V8 and a three-speed automatic, hammered for $88,000. By comparison, a gold 1978 Trans Am also offered at the Las Vegas auction but not connected to Reynolds fetched $27,500. The 1987 Chevy R30 pickup was a re-creation of the Indy Hauler pace truck seen jumping over a moving freight train in "Cannonball Run." It hammered for $49,500. The fourth car never appeared in any of Reynolds' films but is instead the only surviving example of two Trans Ams used to promote the Tampa Bay Bandits of the now-defunct USFL, having been driven out onto the field by Reynolds and his late friend and co-star, Jerry Reed, during opening day one season. It also sold for $49,500. At the Barrett-Jackson Scottsdale Auction in 2016, Reynolds accompanied a 1977 Trans Am used to promote "Bandit" onto the auction block. That car sold for $550,000. Related Video: Featured Gallery Burt Reynolds 2018 Barrett-Jackson Las Vegas Auction Image Credit: Barrett-Jackson Celebrities Chevrolet Pontiac Truck Coupe Performance celebrity pontiac trans am pontiac firebird burt reynolds

GM recalling 426,000 sedans over faulty transmission shift cable

General Motors is recalling some 426,240 sedans that may have a faulty transmission shift cable, according to a National Highway Traffic Safety Administration report this morning. The recall concerns a fault within four-speed automatic transmissions equipped on 2007-2010 Saturn Aura models, and 2008-2010 Chevrolet Malibu and Pontiac G6 models.
The report specifies that tabs on the transmission shift cable may fracture and separate. Such a fault could cause a discrepancy between the actual position of the transmission and the apparent position of the shift lever.
GM is currently working to notify owners of the vehicles in question, and dealers will check and replace shift cables free of charge. Scroll down to read the complete NHTSA report.