Classic Car Dealers in the US - Industry Market Research Report

Classic Car Dealers in the US - Industry Market Research Report
Classic Car Dealers in the US

The Classic Car Dealers industry has experienced a wave of change over the past five years, with revenue swelling at a CAGR of 2.2% to reach $2.7 billion in 2023. Classic car demand depends heavily on the vehicles' anticipated value and return on investment. At the onset of the period, pandemic-induced economic uncertainty shifted investors' focus toward equity stock and high-return assets, dampening classic car sales. A sturdy recovery in the 10-year treasury rate eventually drove investment back towards classic cars, leading to a revenue boost beyond pre-pandemic levels. Millennials' growing interest in affordable classics has also contributed to this rebound as swelling disposable income levels have boosted younger consumers' purchasing power. Classic car sales will slow in 2023 amid inflationary pressures, with revenue rising an estimated 0.1%.

The industry sells classic and antique cars. IBISWorld defines a classic car as either a foreign- or US-made vehicle that was manufactured more than 25 years ago and is no longer in production. An antique car is defined as a vehicle manufactured more than 45 years ago. Companies may sell previously purchased cars or third-party vehicles on consignment. They may also sell vehicles at an auction, but individuals who sell their own cars at an auction are excluded from this industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.