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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:

General Motors Recall List

It seems General Motors can't go more than a few weeks without issuing a major recall. Since the initial ignition lock recall on February 10, over 25 million vehicles have been recalled for defects. It seems General Motors can't go more than a few weeks without issuing a major recall. Since the initial ignition lock recall on February 10, over 25 million vehicles have been recalled for defects. We used the National Highway Traffic Safety Administration recall list to compile a snapshot of all the GM vehicles recalled in the last two months. NHTSA also provides a search engine that allows owners to search for recalls on their vehicle. An automotive company must do everything in their power to notify its customers when a recall is issued on a vehicle. If you own any of the following vehicles and you have questions regarding your car, you can contact Chevrolet at 1-866-694-6546, GMC at 1-866-996-9463, Buick at 1-800-521-7300 and Cadillac at 1-866-982-2339. Or check out General Motor's recall site. Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153) or go to www.safercar.gov. Here's a brief summery of the other vehicles currently under recall: July 26 – 414,333 cars affected NHTSA Campaign Number: 14V447000 Models under recall: Certain model year 2011-2012 Buick LaCrosse, Regal and Chevrolet Camaro, as well as certain 2010-2012 Cadillac SRX, Chevrolet Equinox and GMC Terrain vehicles, equipped with power height adjustable driver and passenger seats. Problem: In the affected vehicles, the bolt that secures the driver's and passenger's power front seat height adjuster may fall out causing the seat to drop suddenly to the lowest vertical position. Consequence: If the driver's seat unexpectedly drops, the distraction and altered seat position may affect the drivers' control of the vehicle, increasing the risk of a crash. Solution: Dealers will replace the height adjuster shoulder bolts, free of charge. July 14 – 16,939 cars affected NHTSA Campaign Number: 14V341000 Models under recall: Certain model year 2011 Cadillac CTS vehicles manufactured October 18, 2010, to June 2, 2011. Problem: In the affected vehicles, vibrations from the drive shaft may cause the vehicle's roll over sensor to command the roof rail air bags to deploy. Consequence: If the roof rail air bags deploy unexpectedly, there is an increased risk of crash and injury to the occupants.

Burt Reynolds' old Pontiac Trans Am replica sold for $317,500

Following Burt Reynolds' passing last September, Julien's Auctions held an estate sale of the late actor's property on June 15-16 in Beverly Hills, Calif. Hundreds of items were included in the auction, but none more valuable than the Pontiac Trans Am Bandit replica previously owned by Reynolds. It easily surpassed expectations when it sold for $317,500. Julien's, the self-proclaimed experts in contemporary and pop culture, listed 876 pieces in the sale, from cowboy boots to a driver's license to scripts. The online preview said it estimated a range of prices from $25 to $200,000. They were way off. Item No. 716 was a replica of a Pontiac Trans Am Bandit that was seen in the original "Smokey and the Bandit." Not the real car, just a re-creation. But its value comes more from who owned the ride rather than what the car was. The replica was owned by Reynolds for some years, and now that he's passed, it's coveted even more. It's not the only Trans Am item that sold at auction. Three Reynolds Trans Am model cars sold for $640, $576 and $512. A Reynolds-signed "Bandit" poster sold for $3,200. A Reynolds-signed poster from the Trans Am plant sold for $1,562.50, a Reynolds custom-built Trans Am office desk sold for $4,375, and a "Smokey and the Bandit" decorative etched glass panel sold for $896. This isn't the first time a Bandit replica has sold for big money. In 2016, a promotional Trans Am sold at a Barrett-Jackson auction for $550,000. We also believe the exact car sold in this Julien's auction was previously bought at a Barrett-Jackson auction in 2018 for $192,500. If that's the case, somebody just made an extremely easy profit.