Classic Car Dealers in the UK - Market Research Report (2014-2029)

Up a gear: Industry revenue is expected to rise despite cost-of-living pressures limiting demand for classic cars in 2023-24

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.

Companies in this industry sell classic cars, defined by HMRC as any car manufactured at least 15 years ago and with a market value of at least £15,000. As a luxury industry, it is sensitive to changes in disposable incomes, particularly in the highest quintile, which dictate how much individuals can spend on discretionary items. The COVID-19 outbreak slashes household expenditure in the highest quintile, reducing industry revenue over 2020-21. The ongoing cost-of-living crisis has caused a sharp drop in disposable incomes. However, the highest earners have remained primarily shielded from this crisis, with industry revenue expected to climb by 2.5% in 2023-24. Over the five years through 2023-24, the classic car dealer industry is expected to expand at a compound annual rate of 1.4% to shy of £2 billion.

Companies in the Classic Car Dealers industry purchase classic cars for resale through a dealership or auction. Many companies also have online operations. There is not a universally accepted classic car definition. The analyst has opted to define a classic car as a car over 25 years old and no longer in production, appreciating in value and possessing an aspect of rarity and style.