Two-family Owned Survivor Turbo Grand Prix Offered At No Reserve on 2040-cars

Auto blog

'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: 1980 Pontiac Phoenix LJ Hatchback

The car-building world was rushing headlong into front-wheel-drive by the late 1970s, eager to reap the weight-saving and space-enhancing benefits of front-drive designs. General Motors designed an innovative FWD platform to replace the embarrassingly outdated Chevrolet Nova and its siblings, and that ended up being the Chevrolet Citation. The other US-market GM car divisions (except Cadillac) got a piece of the X-Body action, and the Pontiac version was called the Phoenix. Here's one of those first-year Phoenixes, not doing a very good job of rising from its snow-covered ashes in a Colorado self-service yard. Pontiac had used the Phoenix name on a luxed-up iteration of Pontiac's version of the Chevy Nova during the 1977-1979 model years, and so it made sense to apply that name to the Pontiac-ized Citation. Phoenix production continued through the 1984 model year (the Citation managed to hang on through 1985). Just to confuse everyone, the Nova name was revived in 1985, on a NUMMI-built Toyota Corolla. The LJ trim level was the nicest one for the 1980 Phoenix, and it included lots of trim upgrades and convenience features. However, even Phoenix LJ buyers had to pay extra for a three-speed automatic transmission instead of the base four-on-the-floor manual ($337, or about $1,291 in 2022 dollars). If you wanted air conditioning, that was another $564 and you had to get the $164 power steering and the $76 power brakes with it (total cost in 2022 dollars: $3,080). Affordable cars weren't so affordable back then, not once you started adding basic options. Both generations of the Phoenix had grilles influenced by those of the Pontiacs of earlier years. The base engine was the chugging 2.5-liter Iron Duke four-cylinder, but a 2.8-liter V6 was optional. This car has the V6, rated at 115 horsepower rather than the Duke's miserable 90 horses. The price tag: 225 bucks, or 862 inflation-adjusted 2022 bucks. The Phoenix was available just as a two-door coupe and five-door hatchback. The MSRP on this car would have started at $6,127, or around $23,469 now. That would have been a pretty good deal even after paying for the options, with the Phoenix's excellent mix of good interior space and solid fuel economy… but the Citation and its kin (the Oldsmobile Omega and Buick Skylark as well as the Phoenix) suffered from seemingly endless, highly publicized recalls and quality problems.

NHTSA investigating 550k Pontiac G6 models, 320k Honda Odysseys

According to two separate reports in The Detroit News, the National Highway Traffic Safety Administration is launching investigations into 550,000 Pontiac G6 (pictured above) and 320,000 Honda Odyssey (pictured right) models. The G6 models are all from the 2005 to 2007 model years, while the Odyssey minivans are from the 2003 and 2004 model years. The two NHTSA probes are not related.
In the case of the G6, this is an upgrade to an original investigation that started in February after NHTSA received "hundreds of reports" that the brake lights on these cars may malfunction. According to The Detroit News, the lights may come on when the brake pedal is not depressed, and likewise, the brake lights may not illuminate when the pedal has been pushed. General Motors was able to provide NHTSA with a significant number of warranty claims, including 1,100 reports that could potentially relate to this problem, one of which indicates a vehicle crash.
For Honda, the NHTSA probe concerns airbags that may deploy unexpectedly. The government agency received six complaints from 2003-04 Odyssey owners saying that the front airbags suddenly went off without a crash. The Detroit News reports that three of the six owners sustained injuries from these incidents. Additionally, NHTSA has received 41 complaints from owners saying the vehicle's airbag warning light had illuminated.