During the last week, much has been written about the “Driven By Disruption” auction Dec. 10 by RM Auction/Sotheby’s.

Most of that reporting was about Janis Joplin’s Porsche, which sold for a mildly outrageous sum of $1.6 million (plus fees), which beat the estimate about 2.5 times. Other top-dollar cars were mentioned as well, especially the first Aston Martin DB4GT Zagato sold in almost a decade, or the Ferrari 290 MM that was driven by the famous Juan Manuel Fangio in the Mille Miglia. Both cars brought even more eye-watering amounts of money – $13 million for the Aston, $25.5 million for the Ferrari. The Aston even set a historical record for the most expensive British car ever sold at auction.

The message is clear: The collector car market is not only alive and well, it’s thriving. Cars sell for ever-higher sums and they are a marvelous investment value. After all, they aren’t making any more classic Ferraris and Astons, are they? So the value can only go up, right? Read More >

Billionaire investor Carl Icahn disclosed a 12-percent ownership stake in Pep Boys and said that Auto Plus, a competitor which he owns, should consider buying the retail parts giant, Bloomberg reported.

In October, Bridgestone offered to purchase Pep Boys’ 800 company-owned stores for $835 million to add to its portfolio of 2,200 stores including Tires Plus, Firestone Complete Auto Care, Hibdon Tires Plus and Wheel Works. The acquisition would create the largest chain of automotive service centers, yet many analysts say Bridgestone may be preparing Pep Boys for a potential sale already.

That tender offer from Bridgestone will expire Jan. 4, according to the report.

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Porsche announced Friday that it opened its first classic Porsche center in the Netherlands, the first among nearly 100 centers that will sell, service and make money on maintain old sports cars.

The network will eventually include a center (or centers) within North America, according to the automaker.

Porsche says that nearly 70 percent of all the cars that it has made are still on the road, and that its centers would be staffed with specially trained technicians that can identify and work on any problem. (Plus, Singer can’t make all the money on old Porsches.)

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Editor’s note: This article originally ran September 22, 2015. TTAC has yet to be proven or disproven on these numbers, but hopefully we will learn the truth soon.

In all reality, Volkswagen probably won’t pay $37,500 for each car that cheated its way through U.S. emissions standards, but the German automaker will probably pay thousands for each car to fit a device that would clean up their acts.

The presumed fix would come by retrofitting a Selective Catalytic Reduction (Adblue or urea) system although that wouldn’t be the only fix necessary. Researchers discovered that the Passat TDI that they tested, fitted with the SCR system, was 5 to 20 times over the NO limit — less than the 10 to 40 times by the lean NO filter cars, but still illegal.

The long list of items needed to fit models of the Volkswagen Golf, Jetta, Beetle and Audi A3 doesn’t include the engineering needed to retrofit the cars and the costs to crash test the models after the significant modifications. That’ll add hundreds of millions to the bottom line.

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I swear someone was cutting onions right next to me just now. 

A Utah high school custodian, whose broken-down car left him commuting two hours each way to work, was surprised by a mechanic who purchased and fixed a car for him with money collected from crowd funding.

Sean Merrill, who owns Nobori Auto near Salt Lake City, along with his wife, picked up Robert Ford last month when he was walking home late one night. Ford told the couple about his hardship and his commute, and Merrill said he was compelled to help. Read More >

Or is it a 1991?

We could pore over the details of a Toyota pickup festooned with more weed than the University of Colorado Boulder campus, or we could just admire the grapes on “Mike” for selling his truck “not used for much than errands” with that kind of photo in Washington on Craigslist.

What would you say your business is, Mike?

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As Volkswagen works to make amends with customers and the public, TDI owners ready to give up their illegally polluting cars are hearing conflicting messages from some Volkswagen dealers who are either unwilling to or begrudgingly taking in those cars on trade.

A TDI owner said when he took his car into Flow Motors Volkswagen in North Carolina last month the dealership told him it wouldn’t initially accept his vehicle for trade. The dealer originally had asked if the owner had found a willing dealership to take his car.

“ … Let me know as I have a couple of other diesel owners I will send if things worked out for you,” the dealer wrote in an email after they turned down the man’s diesel car.

“To say I’m irritated is an understatement,” the TDI owner wrote.
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According to Kelley Blue Book, auction prices for Volkswagen’s diesels cars are dropping faster than similar models that are powered by gasoline.

According to auction data gathered before and after news broke that Volkswagen had admitted to federal investigators that their cars illegally polluted, prices for Volkswagen diesel cars dropped 16 percent. Prices for Volkswagen gasoline cars only dipped 2.9 percent over the same period.

According to the car industry site, interest on the Volkswagen diesel models has only declined 2.4 percent.

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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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In all reality, Volkswagen probably won’t pay $37,500 for each car that cheated its way through U.S. emissions standards, but the German automaker will probably pay thousands for each car to fit a device that would clean up their acts.

The presumed fix would come by retrofitting a Selective Catalytic Reduction (Adblue or urea) system although that wouldn’t be the only fix necessary. Researchers discovered that the Passat TDI that they tested, fitted with the SCR system, was 5 to 20 times over the NO limit — less than the 10 to 40 times by the lean NO filter cars, but still illegal.

The long list of items needed to fit models of the Volkswagen Golf, Jetta, Beetle and Audi A3 doesn’t include the engineering needed to retrofit the cars and the costs to crash test the models after the significant modifications. That’ll add hundreds of millions to the bottom line.

Read More >

Millennials. Who knows what they’re thinking? Well, maybe GM and Dodge did … in the early and mid-2000s.

According to Edmunds, the 18-34 age group of used car buyers are flocking to some discontinued metal including the Dodge Magnum, Chrysler Pacifica, Pontiac Aztek, Chevrolet Trailblazer and Saturn Outlook.

But, why would they be buying models that were so derided or unpopular when new?

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Chevrolet finished work restoring its 1,000,000th Corvette after it was damaged in a Kentucky sinkhole that swallowed it — and other Corvettes — at the National Corvette Museum in Bowling Green, Kentucky, the automaker announced.

The celebratory 1992 Corvette had signatures on every part from auto workers at its Bowling Green, Kentucky plant. The restoration project included getting those signatures on refurbished parts, and on the two parts that couldn’t be saved, scanning and replicating the signatures.

The entire process took more than four months, and more than 1,200 man-hours to complete, according to Chevrolet. That works out to about two full-time employees working 40 hours a week, but it’s still very cool.

The details get better.

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Matt Gephardt and KUTV in Salt Lake City have a good story about a Utah man who was hit by a state vehicle and its insurance company — which is the state itself — shortchanged him on his 1985 Mercedes-Benz SL Convertible.

The car was totaled, and the state offered to pay $8,000 for the car. Tyler Winger, who said he restored the car with his grandfather, said the car was worth $12,000 to $13,000. (He’s not completely wrong.)

Winger said the state told him that they wouldn’t budge and that he couldn’t complain to the state’s insurance oversight board since that board doesn’t have oversight over the state’s self-insurance company.

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Automakers could sell more than 17 million new cars and trucks in the U.S. this year, approaching the sales record set in 2000 of 17.4 million, Automotive News is reporting.

Analysts raised their forecasts after a strong July for automakers and new cars that will be reaching showrooms in high-selling segments by the end of the year. Last month was the 18th consecutive month for increasing sales.

Our own Timothy Cain thinks that regardless of the final number, 2015 will be a very, very, very good year for automakers.

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A Tampa-area man knows how to sell his 1993 Corvette like a boss — with girls and guns and stuff. Our own Chris Tonn is talking about the car in the forums.

This Craigslist entry doesn’t detail the 1993 Chevrolet Corvette “Show Car” all that much, but it does make up for the lack of specifics with an abundance of “experience.”

Like aforementioned chicks and trophies and guns.

(H/T to Murilee Martin who should be scored on the official’s sheet with an assist.)

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