Classic car prices slightly on the rise
German Classic Car Index of the VDA increases by 4.8% – index not vulnerable as of January 1, 2023
Classic car prices in Germany rose again slightly in 2022. The German Classic Car Index (DOX), which the German Association of the Automotive Industry (VDA) publishes annually, reached a score of 2902. This corresponds to an increase of 4.8% compared to the previous year. It was thus below the inflation rate.
The DOX serves to give a trend statement about the value development of classic cars in Germany. The vehicle values are determined by the valuation specialist "classic-analytics". For this purpose, 88 representative vehicles are selected and weighted depending on their registration numbers. Vehicles that are traded particularly expensive due to their rarity or history are not included. The DOX has been calculated since 1999. Starting from a base value of 1,000 points, an increase in value of 190% has been seen in Germany since then.
The German Classic Car Index shows a stable development. The unfavorable framework conditions from the corona pandemic, the Russian war of aggression and rising energy costs had hardly any effect as of January 1, 2023: the DOX is resistant to the crisis. The delivery times of new vehicles may not only have significantly increased the price level in the used car segment, but also caused some increase of the price of everyday models in the classic car segment. Some models have developed much stronger than the market as a whole, but the broad midfield of the vehicles examined shows only minor changes in value. The influence of fluctuations in the number of traded vehicles of a model in the period under review should also be considered.
There are 8 vehicles from German manufacturers in the Top 10 for increases in value in the period under review from 2018 up to and including 2022. The value of the Ford Capri I has grown the most (plus 100%). The VW Beetle dropped out of the Top 10 with both the convertible and the previously manufactured standard model. The VW series K70 and Passat take up its place. Both models grew strongly (up 92.7%) over the four-year period, but at a low level. The Pontiac Firebird (plus 63.6%) and the Toyota Celica (plus 39.3%) are represented in the Top 10 as foreign-made models.
Numerous vehicles in the midfield of price development have undergone a change in the single-digit percentage range, which corresponds to the average.
At the other end of the scale (Last 10) are the Chevrolet Camaro, the Cadillac Eldorado and the Ford Thunderbird, whose value did not develop in the period under review. Everyday vehicles such as the Mercedes of the W 108/109 series show little price erosion (minus 1.3%). In contrast, the favorites of classic car enthusiasts such as the Jaguar E-Type (minus 7%) and the Mercedes Benz 190 SL (minus 13%) – which, however, have been at a high price level for some time – lost more in value. The BMW CS series also fell in the period under review (-14.1%).
It turns out that a differentiated view and evaluation of the vehicle condition by an expert is crucial. According to "classic-analytics", the current market situation is stable.
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