While unhappy Porsche 911 GT3 buyers are still waiting for their sports cars to be delivered following the much-discussed fire debacle, the said vehicle has been named the 2014 World Performance Car during a ceremony at the New York Auto Show->ke226.

The 911 GT3 grabbed the coveted award after defeating two equally prestigious sports cars->ke506, the Chevrolet Corvette Stingray, which was named the 2014 North American Car of the Year, and the more expensive Ferrari 458 Speciale. The winner was determined by a panel of 69 automotive journalists from 22 countries.

This is the third consecutive year that a Porsche->ke1-badged vehicle wins the World Performance Car title. The 911 GT3 follows the legacy of the Boxster/Cayman and the 911 Carrera, which were declared winners in 2013 and 2012, respectively.

Needless to say, we can't argue with the results of this year's World Performance Car awards, but we can't help but notice the irony of it all. As the fifth-generation 911 GT3 gains even more recognition for its fantastic abilities, current owners had to return their cars for an engine swap, while those that have already ordered one could wait up to six months to enjoy it.

Click past the jump to read more about the Porsche 911 GT3 fire fiasco.

Porsche 911 GT3 Fire Fiasco

Following two fire incidents that burned two 911 GT3s to a crisp, in February Porsche decided to recall all 2014 models for further investigation. The probe revealed that faulty piston rod screws were responsible for the issue, prompting the Germans to change the entire engine altogether.

As for customers that have yet to receive their 911 GT3s, Porsche announced it will add an extra 12 month or 100,000 miles to the Porsche Approved warranty plus a $2,000 per month compensation until the vehicle is actually delivered.

Past World Performance Car Winners

2013: Porsche Boxster/Cayman

2012: Porsche 911

2011: Ferrari 458 Italia

2010: Audi R8 V10

2009: Nissan GT-R

2008: Audi R8

2007: Audi RS4

Porsche 911 GT3

Unveiled in 2013, the fifth-gen Porsche 911 GT3 is motivated by a tweaked 3.8-liter inline-six engine that delivers 475 horsepower and 324 pound-feet of torque. All that power, which goes to the wheels via a PDK transmission, enables the sports car to sprint from 0 to 60 mph in only 3.3 seconds on its way to a top speed of 195 miles per hour.

The increased output wasn't the only updated available on the new 911 GT3. The vehicle is also lighter that its predecessor and comes with active rear wheel steering.