Here are a few news highlights from the classic car industry from the last couple of months…
The Knight Frank Luxury Investment Index notes that classic cars have beaten everything from art, watches and coins over the past 1 year, 5 years and 10 years. This is telling people that classic and vintage cars are a viable investment asset class.
The focus on classic and vintage cars is not about collecting now but about investing. The strong returns have attracted many in the classic and vintage car world seeking financial gain as the primary goal.
Along with buying art or wine, a classic car is one of those investments that can potentially bring you joy while you own it, as well as providing a smart place to hold your money. And let’s face it, when you can take the top down off your very own E-type Jag and cruise along the country lanes with the wind in your ever-diminishing hair, surely that’s a good challenge to the idea that money can’t buy happiness?
Newly introduced changes to pensions look set to create yet another boost to the booming car market. Anyone aged 55 or more can, since 6 April 2015, draw out their entire company pension instead of the maximum 25% previously allowed. Some people are considering putting some or all of the money into a classic car, which is set to boost demand further.
More than 3500 classic car fans have signed a petition calling for the Government to release vehicles that escaped the crusher during 2009’s official scrappage scheme.
While an estimated 300,000 older vehicles were traded in as part of the ‘cash for clunkers’ operation to boost the nation’s motor industry – including 45 Jaguar XJSs, 655 Minis and 572 MGs – we are aware of numerous vehicles in salvageable condition being stored years after the scheme closed. The petition’s supporters are keen to see the classic cars that were not destroyed during the scheme
The petition’s supporters are keen to see the classic cars that were not destroyed during the scheme to be either sold on for restoration or broken up for spares to give the nation’s historic vehicle movement a boost.
A parade of historic Jaguar and Land Rover cars that took place to mark the start of Jaguar production at the Lode Lane plant in Solihull was made possible thanks to the car-maker acquiring one of the UK’s largest collections of classic cars – worth an estimated £100 million.
Sir Stirling Moss has paid tribute to Jaguar’s greatest cars after he joined Norman Dewis – the man who honed the Jaguar E-type – at a classic car gathering at the manufacturer’s factory. The pair were among the star guests when Jaguar Land Rover unveiled its newly updated Solihull factory, where the Jaguar XE is now being made alongside Land Rover’s current range.
If, like Stirling Moss, you are a fan of classic Jaguar models, get in touch with KWE Cars – the classic car restoration experts. For more information, call us on +44 (0)1635 30030, ‘like’ us on Facebook or follow us on Twitter.