Hagerty says market will remain stable
Tuesday, 19 July 2022 at 13:00:00 UTC
New Hagerty report concludes classic market has stable future
The latest UK Hagerty Price Guide ask whether the classic car market could be heading for a 1980s-style bubble and burst situation. Its conclusion is the market is now more mature and stable, driven by enthusiasts and knowledgeable collectors.
Compiled by John Mayhead, Editor of the UK Price Guide, it believes Generation X buyers, who were born between 1965 and 1980, are now reaching their peak buying power. This is powering the desire in the market for cars built in the 1980s and 1990s that these buyers remember from their youth.
Mayhead said: ‘It may seem odd – and unnecessarily gloomy – to flash back to the darkest moment in our industry at a time when classic car values are soaring. Our latest UK Hagerty Price Guide, published earlier this month, shows widespread gains, and over in North America the Market Rating is at a record high of 78.22. Looking ahead, we are anticipating one of the finest crops of collector cars we’ve ever seen will be on offer during Monterey Car Week. The good times are still rolling.’
Max Girardo contributed to the guide and added: ‘There is much more to do with classic cars than there was back in the 1980s, from motorsport to Facebook groups. The events and the lifestyle make a difference to the market. There is a much bigger community now, look at social media, cars and coffee, the list goes on and on.’