Statista overview report on the status quo of the classic car market
The report analyzes the most important markets for classic cars: The United States, Germany, Italy, and the United Kingdom. The year 2022 was overshadowed by international crises and events, but despite external pressures, the classic cars market seems to be going from strength to strength. Statista estimates the global classic car market revenue to be 31.6 billion U.S. dollars for 2022, with an expected growth rate of 9.6 percent annually until 2026.
Two sales channels were examined: auctions and online marketplaces. As it attracts high-end buyers, auctions host the highest-priced transactions. 2022 broke the record for the most expensive car ever sold at auction: a Mercedes-Benz 300 SLR Uhlenhaut Coupé from 1955, which sold for 142 million U.S. dollars. The sale took place on May 5 and smashed the previous record for the most expensive car sold at auction by more than 90 million U.S. dollars.
To analyze the respective classic car markets, more than 100,000 classic car ads from the most important online car marketplaces and auctions of each country were gathered.
First, the report introduces the market by describing the current state of the global classic car market and clarifying the basic terminology and categorizations used in the study. Afterward, the report gives an overview of the global market, including insights into revenue forecasts, average prices of both auctions and online marketplaces, and car brand presence, among others. Finally, the study examines each core market individually.
Classic cars, which in this report are defined as “passenger cars manufactured at least 30 years ago”, remain popular as both investment opportunities and collector’s items. Classic car owners can be categorized as collectors, investors, enthusiasts, and necessity drivers, the latter not being part of the market as defined here.
The classic car market is a highly complex market, and numerous factors play a role in its dynamics and developments. To highlight the main trends and the explanations behind them, this analysis presents not only a global overview but also the most significant classic car markets individually. More than 100,000 relevant classic car ads across the four core markets were analyzed. As the analysis is based on sale ads, it focuses on classic cars that are intended to be sold.
Introduction and methodology
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