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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:

Fiero-based Zimmer Quicksilver was objectively terrible, but we'd totally drive it

Now here's something you don't see everyday. It's listed in our classified ads as a 1986 Pontiac Fiero, but as you can see, that description is a bit misleading. In fact, it's a Zimmer Quicksilver, which was indeed built atop the guts of a mid-engine Fiero coupe but was heavily modified by the Zimmer Motorcars Corporation at a facility in Pompano Beach, Florida. And the one you see here actually seems to be a pretty decent deal for a highly unusual car. We're not sure what was a more popular starting point for kit and custom cars in the 1980s and 1990s, but it would have to be either the Fiero or the vintage air-cooled Volkswagen Beetle. Fiero-based machines usually mimicked the design direction of any number of highly desirable Italian stallions, most commonly, we'd guess, the Lamborghini Countach. The Quicksilver is an altogether different animal, with over a foot of extra wheelbase added in front of the A-pillar to make for a dramatic, long and low silhouette that somehow still only has barely enough room for two passengers in its leather- and wood-lined interior. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. A stock 2.8-liter V6 engine from General Motors is mated to a three-speed automatic transmission that sends 140 horsepower and 170 pound-feet of torque to the rear wheels. Period road tests found the 0-60 run took a little over 10 seconds, which is terrible today but wasn't all that bad for the mid '80s. Best we can tell, only around 170 Quicksilvers were made between 1984 and 1988, which are, not coincidentally, the same years that Pontiac produced the Fiero. The 1986 Zimmer Quicksilver you see here is priced at $18,495 and shows well under 30,000 miles on the odometer. There aren't a lot of Zimmer Quicksilvers currently for sale for us to compare, but the ones we did find that had sold within the last few years suggest a little under $20,000 is a reasonable asking price. It could be a fun and offbeat addition to the garage, and if nothing else, you're not likely to see another one at your local car show. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

GM recalling 70k Chevy Malibus, Pontiac G6s over steering issue

A problem with the power steering system in the Chevy Malibu and Pontiac G6 has prompted General Motors and the National Highway Traffic Safety Administration to issue a recall for an estimated 69,633 vehicles. The issue revolves around the electric power steering assist, which could suddenly fail and increase the risk of a crash, especially at low speeds where the power steering is most helpful. The recall affects 2006-2007 Chevy Malibu sedans and Malibu Maxx wagons (specifically those manufactured between April 1, 2006, and June 30, 2006), as well as the Pontiac G6 (which was offered as a sedan, coupe or convertible) from the same model years and manufactured from April 18, 2006, to June 30, 2006. Owners of the affected units can expect to hear from the manufacturer with instructions to bring in their vehicles to their local dealers to have the torque sensors in the power steering system replaced. RECALL Subject : Sudden Loss of Electric Power Steering , 1 INVESTIGATION(S) Report Receipt Date: FEB 04, 2015 NHTSA Campaign Number: 15V064000 Component(s): STEERING Potential Number of Units Affected: 69,633 Manufacturer: General Motors LLC SUMMARY: General Motors LLC (GM) is recalling certain model year 2006-2007 Chevrolet Malibu and Malibu Maxx vehicles manufactured April 1, 2006, to June 30, 2006, and 2006-2007 Pontiac G6 vehicles manufactured April 18, 2006, to June 30, 2006. In the affected vehicles, there may be a sudden loss of electric power steering (EPS) assist that could occur at any time while driving. CONSEQUENCE: If power steering assist is lost, greater driver effort would be required to steer the vehicle at low speeds, increasing the risk of a crash. REMEDY: GM will notify owners, and dealers will replace the torque sensor assembly, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Chevrolet customer service at 1-800-222-1020 or Pontiac customer service at 1-800-762-2737. GM's number for this recall is 14772. Note: This is an expansion of recall 14V-153 to cover additional vehicles built between April 1, 2006 and June 30, 2006. NOTES: 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.