The lure of the cheap “exotic” car can be irresistible for some gearheads. Just open up eBay Motors sometime and type “project” into the search bar. Instantly, dozens of cars, old and new, are there to haunt your bargain-hunting dreams. In a quick glance, I spotted a Viper, a Z32 300ZX, and even a Local Motors Rally Fighter that can all be picked up for a fraction of the cost of a clean one.

The problem with any project, of course, is the time and money required to complete is typically underestimated, often by some unforeseen order of magnitude. Many of these “projects” will likely be listed on eBay in twenty years as “barn finds”, in basically the same state — save for entropy — as today.

Take today’s feature car, the 1987 Porsche 924S.

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Nearly 30 percent of buyers who purchase a Honda CR-V, Toyota RAV4 or Prius car will keep that car for more than 10 years, according to data from iSeeCars.com.

Data from 400,000 car purchases was analyzed for the poll, according to the study group. The industry average for owners keeping their cars 10 years or longer was 13.5 percent.

Of those top 15 vehicles whose buyers keep them longer than a decade, nine of them were Toyotas; 5 were made by Honda. The Honda CR-V was tops at 28.6 percent of buyers who kept that car for 10 years or more.

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A group of owners of 7-liter V-8 powered, 2006-2014 Chevrolet Corvettes have filed a proposed class-action lawsuit against General Motors claiming those models have excessive valve guide wear that leads to engine failures.

The filing, which was made Wednesday, said General Motors is aware of the problem, but has yet to come up with a solution.

The 19 owners have filed more than 70 claims, “including violations of the RICO Act, unjust enrichment, negligence and fraud,” reported Law360.

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(Updated with comment from GoodCarBadCar’s Tim Cain)

Analysts at IHS Automotive says car sales may be nearing its peak and automakers may expect a downturn in sales by 2017 due to rising interest rates, Automotive News reported.

Strong demand for auto loans is starting to wane, banks are reporting, and a pending federal interest rate hike could push some buyers out of the market, the agency reported.

After 2017 “credit markets are going to be much more difficult,” Charles Chesbrough, IHS senior economist, told Automotive News. Most analysts predict that interest rates will remain where they are for the rest of this year but many anticipate a rate hike by March 2016.

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Volkswagen Group will recall 8.5 million vehicles in the European Union’s 28 member states, including the 2.4 million vehicles it is already being forced to recall by the KBA, Germany’s transportation authority, the automaker announced Thursday.

Vehicles from the Volkswagen, Audi, Seat and Skoda brands are included in the recall. The latest EA 288 diesel engine is not part of the recall.

Volkswagen said it will begin to rollout fixes in January 2016.

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Volvo announced Thursday that it would make an all-electric car available by 2019 and offer more plug-in hybrid versions of its cars sooner, starting with the S90. Volvo already sells a plug-in hybrid version of its XC90 SUV.

The automaker’s announced plans follow news that it would make a compact crossover by 2018, likely called the XC40, which would eventually share the same architecture as its V40 and V40 Cross Country.

According to the automaker, Volvo expects 10 percent of its sales by 2020 to be of electric cars. The automaker reported 465,000 sales in 2014.

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The Federal Trade Commission will join the U.S. Department of Justice and the Environmental Protection Agency in investigating claims that Volkswagen cheated consumers and regulators with bogus emissions claims of its diesel cars, Politico reported (via Bloomberg).

The FTC’s inquiry will focus on whether the German automaker lied to consumers about “clean diesel” claims in its advertisements when, in fact, the cars were engineered to deceive emissions tests.

The FTC, Justice Department and EPA’s investigations also joins an investigation by the U.S. Senate Finance committee on whether the automaker illegally obtained $50 million in federal subsidies through car buyers who purchased its cars and received the lean-burn technology motor vehicle credit.   Read More >

German transportation authority KBA on Thursday ordered the mandatory recall of 2.4 million Volkswagen cars with illegally polluting diesel engines, in part, because the German automaker’s proposed timetable wasn’t fast enough, Automotive News reported.

The forced recall will mean Volkswagen would likely spend more to fix its cars faster and German officials have told the automaker to submit a proposed fix by the end of November. Volkswagen initially planned for a voluntary recall to begin next year.

Authorities in Switzerland and Austria followed Germany and announced the forced recall would apply to those cars too, Bloomberg reported.

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Don’t look now, but “Periscope” is officially a thing.

The social-media platform allows people to broadcast live from their phones whenever they like, thus bringing the average 23-year-old American woman just that much closer to her dream of becoming a fourth-rate reality television “star” at the expense of all other potential accomplishments.

I can see Periscope being of some use in the upcoming “American Spring” populist uprising, except for the fact that Twitter and Facebook and the like have long since decided to lick the boots of our corporate Ingsoc in whatever fashion is most deferentially pleasing to Mr. Obama, Mrs. Merkel, and Xi Jinping. So when the balloon goes up and you see me and Zack de la Rocha rolling a Viper ACR loaded with grenade launchers down the street, the Twitter “fail whale” will be all you can get, because anything else would be uncivilized.

The automotive world has used Periscope for a few new-vehicle reveals and a series of vignettes in which my friend Adam uses Turtle Wax™ to get some shine on his Isuzu Impulse. But it wasn’t until Whitney Beall of Lakeland … you guessed it … Florida, started Periscoping her drunk-driving adventure that the true potential of this newest navel-gazing “app” was well and truly revealed.

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BT writes:

Why aren’t we seeing diesel/electric hybrid cars and light duty trucks? Wouldn’t the fuel economy be phenomenal? Gas hybrids do well in their own right, as do diesels. So what’s holding up the diesel/electric Passat? Many cities have gone to diesel/electric buses for fuel savings, so we know the technology is real for passenger vehicles. Is the combined torque simply too much for mere mortals to use responsibly?

What gives, Sajeev?

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Ontario announced this week that it would be the first Canadian province to allow autonomous driving on its roads (although maybe not autonomous Volts) and it would make insurance companies discount policies for owners who have winter tires.

The programs were announced Tuesday and Wednesday by the ministries of finance and transportation in the province.

Ontario would join a handful of U.S. states that allow autonomous cars, including California and Michigan, on its roads for testing. According to the statement announcing the program, companies developing autonomous cars can begin applying for permits next month.

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Daimler announced Wednesday that it would help Germany’s growing refugee crisis by offering “bridge internships” to 40 people along with German classes, transportation for aid organizations and food donations.

The company would put to work some refugees who have flooded the country to escape violence in nearby Middle Eastern countries. In all, Daimler announced it would put to work “several hundred” refugees after a 14-week course in helping them to learn the nation’s language and construction practices.

Daimler joins Audi in offering help to refugees in Germany, after that automaker announced this summer that it would donate €1 million ($1.1 million) to aid organizations.

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Proving that no good deed goes unpunished, Dodge will end production of its supercar Viper in 2017 when the current generation has finished its run, Allpar reported.

(OK, so the Viper wasn’t exactly perfect.)

The website reported that United Auto Workers proposed contract with Fiat Chrysler Automobiles doesn’t include a product at the Viper’s Conner Avenue plant when Viper finishes in 2017. Viper has languished since its introduction in 2013, suffering from a high price and increased competition from the Chevrolet Corvette. Last year, Dodge sold 760 coupes, which was the best year for the current generation so far, but far from the nameplate’s zenith in 2003 when it sold 2,103 examples.

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A United Auto Worker retiree medical fund created to reduce healthcare costs and increase services for more than 700,000 people reported a $20.7 billion difference between assets and future liabilities, Bloomberg reported Wednesday (via Automotive News). The shortfall increased by more than $16 billion over the last report.

A similar system proposed for Fiat Chrysler Automobiles workers in the union’s first proposed contract — which was rejected by workers nearly 2-to-1 — was scrapped in the second contract.

Accounting for future inflation and longer average lifespan are to blame for the increased shortfall, according to the report. Read More >

Toyota officials insisted Wednesday that its hydrogen-powered cars, such as the Mirai, will comprise up to 30,000 sales by 2020, and will help the automaker eventually reduce emissions from cars it produces by 90 percent by 2050.

The Associated Press (via Detroit News) reported that the automaker said it would work with investors and governments to deliver on its promise of producing only a small number of gasoline-powered cars for small countries in 35 years.

“You may think 35 years is a long time. But for an automaker to envision all combustion engines as gone is pretty extraordinary,” Senior Managing Officer Kiyotaka Ise said, according to the AP.

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