6 Classic Car Trends Making a Huge Comeback
As the world emerges from the COVID-19 pandemic, markets of all sorts are seeing new trends take shape. The classic car market is no exception, and new buyers entering the market have popularized many vehicles that have cruised under the radar for decades. Here are six of the top classic car trends that are making a huge comeback in today's market.
Classic Trucks
Even with many collectors focused solely on classic cars, there's also a large and growing market for classic trucks. Trucks from the 1940s and 1950s have proven extremely popular in recent years, though there is also strong demand for models from the 1960s and 1970s. Unsurprisingly, increased demand has driven the price of popular classic trucks up rapidly. From an investment perspective, older pickup trucks have been among the best classic vehicles in the last several years. A fairly strong market also exists for classic SUVs, though there aren't as many collectors actively seeking out these vehicles.
Classics Made in the 1980s
One of the most prominent trends in the classic car market today is a shift among collectors toward buying cars from the 1980s. While cars from the middle 1970s and earlier have historically dominated the market, 80s vehicles are beginning to earn more attention from collectors. In part, this is because there are only about 3.5 million pre-1970 cars left on the road today, compared to 4.1 million made in the 1980s alone. As Millennials buy their first classic cars, many are turning to 1980s models as cheaper and more accessible than their older counterparts. 1980s vehicles also now qualify for classic car insurance, making them easier to protect as assets.
Popular classics from the 1980s include third and fourth generation Ford Broncos, early Jeep Cherokees, the AMC Eagle and Fox body Mustangs. Although these cars have been largely ignored by earlier generations of collectors, younger buyers today view them with considerable nostalgia. Going forward, expect vehicles made in the 1980s and eventually the 1990s to work their way into the mainstream classic car market.
Older Asian Imports
Japanese cars from the 60s and 70s were largely ignored by American buyers when they were new. Today, however, they are prized for their rarity and novelty. Left-hand drive models sold in the United States are especially uncommon, making them favorites among collectors.
A great example of an older Asian car that has spiked in value and popularity is the Honda S600. Although overlooked in its own time because of its low power, the S600 is now well-liked by classic car collectors. This vehicle also holds an important place in Honda's history as the first car it offered in multiple trim levels.
Modified Classic Cars
At some point, every car enthusiast has upgraded a car in a way that made it more powerful or attractive, yet less original. Market wisdom has had it for the last several years that modifying a car damages its value in the collector marketplace, but this may not be as true as it once was. Modern buyers are a bit less concerned with originality and more interested in getting unique, interesting vehicles. As a result, restomods that would have fared poorly on the auction block two or three years ago are coming back into vogue.
Early Generation Toyota Supras
The final generation of the Toyota Supra was one of the most iconic imports ever made. Cars from this last generation are extremely hard to find and very expensive when they do come to market. The same, however, is not true of earlier generations. Supras from the 70s and early 80s can be found for very reasonable prices, making them good options for first-time classic car buyers.
Though Supras from earlier generations haven't attracted much attention until recently, that seems to be changing. The low prices commanded by these cars have drawn in younger buyers, many of whom have limited budgets for their first classic vehicles.
Older Porsches
Interestingly, older Porsches have experienced one of the largest demand spikes in the market recently. Older Carrera and 911 models are emerging as especially desirable finds in the classic car world. In part, this tracks the trend of cars made in the 80s and early 90s becoming more popular. That trend seems to be particularly strong with regards to Porsche models made during that time, though.
If you plan on buying an 80s or 90s Porsche, it's a good idea to look for a manual transmission model. So far, the renewed Porsche trend has centered on demand for manual transmissions. While automatics may become more popular as the supply of available manuals dwindles, there's no guarantee that they will hold similar values anytime soon.
As you can see, the current surge in demand in the classic car market has brought some fantastic and undeservedly overlooked vehicles back into the spotlight. In the coming years, expect to see more forgotten cars receive the attention they are due as buyers look for hidden gems at reasonable prices.
