Vintage Car Market Research Report By Vehicle Type (Classic Cars, Antique Cars, Muscle Cars, Sports Cars, Luxury Cars), By Engine Type (Gasoline, Diesel, Electric, Hybrid), By Condition (Excellent, Good, Fair, Poor), By Drivetrain (Rear-Wheel Drive, Front-Wheel Drive, All-Wheel Drive), By Value Range (Less than $25,000, $25,000 - $50,000, $50,000 - $100,000, $100,000 - $250,000, Over $250,000) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Vintage Car Market Overview

As per MRFR analysis, the Vintage Car Market Size was estimated at USD  2.92 Billion in 2022.The Vintage Car Market Industry is expected to grow from USD 3.04 Billion in 2023 to USD 4.3 Billion by 2032. The Vintage Car Market CAGR (growth rate) is expected to be around 3.95% during the forecast period (2024 - 2032).

The vintage car market continues to thrive, driven by increasing affluence, a passion for automotive history, and a desire to own a unique piece of art. As technology advances, the appreciation for classic vehicles and the authenticity they offer grows. Collectors seek cars with exceptional craftsmanship, provenance, and historical significance, contributing to the market's sustained demand. Additionally, the nostalgic appeal and cultural value of vintage cars attract enthusiasts from all walks of life, fostering a vibrant community of collectors and enthusiasts.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Vintage Car Market Drivers

Increasing Popularity of Classic Car Collecting

The vintage car market is becoming more and more popular each year. Thanks to a constantly increasing number of collectors, more and more people aim to purchase and preserve a variety of classic vehicles. Seeing a tendency in this field of investment, high-net-worth individuals and ardent automobile lovers are becoming an expanding audience of buyers. Accordingly, the demand for such retro cars leads to the growth of average prices, especially for rare and unique models.Hypothetically, this tendency implies an increasing profitability of investments in the industry. As previously mentioned, findings will further cause the expansion of the Vintage Car Market Industry in the future.

Technological Advancements Enhancing Restoration and Maintenance

Technological development has been one of the major drivers of the vintage car market. Special tools and approaches help drive and expand the platform successfully. “3-D printing, laser scanning, and computer-aided design (CAD) allow parts to be replicated and parts to be manufactured with precision, ensuring durability and that a refurbished car is truly classic”. Such tools have also helped to create a new workforce as professionals learned how to use these tools and became true experts in the field.These aspects have been developing and enhancing the Vintage Car Market Industry.

Growing Interest in Classic Car Events and Exhibitions

As classic cars become more and more popular, multiple events and exhibitions related to such vehicles are on the rise; in addition to the fact that collectors and fans get the opportunity to see and buy a classic vehicle, those who have never owned or have even seen a vehicle such as this one get a chance to look at it. A.A. Mannsberger’s words cannot be truer in the context of the current phenomenon, “On the spot opportunity to own a slice of history”.Hypothetically, the fact that there is a growing number of such events and exhibitions and that classic cars are currently becoming more popular catalyzes the growth of the Vintage Car Market Industry.

Vintage Car Market Segment Insights

Vintage Car Market Vehicle Type Insights

The Vintage Car Market is segmented by vehicle type as Classic cars, Antique cars, Muscle cars, Sports cars, and Luxury cars. The Classic cars segment holds the largest share of the market which is over 40% of the market in 2023. Classic cars are considered cars that are at least 25 years old. They are generally kept in the same condition in which it was bought. Classic cars are usually used by car collectors, hobbyists, and car investors even though the car has lost its value due to many reasons, it still attracts a lot of people because of their historical importance or design.Antique cars are an alteration to Classic cars. 

They are considered cars that are at least 45 years old and have regained their form from the day it was originally bought. Antique cars are more valuable than classic cars because of their rarity and importance of the car. In most cases, the owners of the car do not use the car for driving, but they are usually exposed in museums. Muscle cars are considered as high powered street cars, also known as a specialty. The muscle cars era started at the end of World War II, and model cars were not produced by the auto manufacturers.

Most auto manufacturers build vehicles with engines bigger than the engines used in a truck; even though they make these vehicles, they still do not have a name for the vehicles; thus, the name muscle cars was derived. These vehciles are produced from 1964 through 1972. Sports cars are light, small cars that are specially engineered for high speed and quick response. Sports cars are popular with younger people, and they are cheered for this car; they are popular for the performance or design of the car. Sports cars are built in a way to drive less than two and are not particularly practical.Luxury cars are ingenious; it is mainly for normal transportation. Luxury cars are stylish cars; they are well taken care of and have higher quality than average vehicles. The growth is attributed to the increasing craze for classic and vintage cars as collector items.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Vintage Car Market Engine Type Insights

The Vintage Car Market is segmented by Engine Type into Gasoline, Diesel, Electric, and Hybrid. Among these, the Gasoline segment held the largest market share in 2023, accounting for over 60% of the market revenue. The Diesel segment is expected to witness a significant growth rate during the forecast period, owing to the increasing popularity of diesel-powered vintage cars among collectors and enthusiasts. The Electric and Hybrid segments are also expected to exhibit healthy growth rates, driven by the growing adoption of electric and hybrid vehicles worldwide.

Vintage Car Market Condition Insights

The Condition segment plays a crucial role in determining the value and desirability of vintage cars. The 'Excellent' condition segment accounted for the largest share of the Vintage Car Market revenue in 2023 and is projected to continue its dominance throughout the forecast period. This is attributed to the high demand for well-preserved and meticulously maintained vintage cars among collectors and enthusiasts. The 'Good' condition segment is also expected to witness significant growth, as these vehicles offer a balance between affordability and collectability.The 'Fair' and 'Poor' condition segments typically cater to budget-conscious buyers or those interested in restoration projects. Despite their lower market value, these segments offer opportunities for enthusiasts to acquire and restore vintage cars to their former glory.

Vintage Car Market Drivetrain Insights

The Drivetrain segment plays a crucial role in the overall performance and value of vintage cars. It encompasses the mechanical components that transmit power from the engine to the wheels, including the transmission, driveshaft, differential, and axles. The Vintage Car Market is segmented into three primary Drivetrain types Rear-Wheel Drive (RWD), Front-Wheel Drive (FWD), and All-Wheel Drive (AWD). RWD is the most common Drivetrain configuration in vintage cars, offering a balance of performance and affordability. RWD vehicles send power to the rear wheels, providing enhanced traction and handling capabilities, particularly during acceleration and cornering.FWD, on the other hand, is becoming increasingly popular in modern vehicles, including vintage cars. FWD vehicles send power to the front wheels, offering improved fuel efficiency and better traction in slippery conditions. AWD is the most advanced Drivetrain configuration, providing superior traction and stability in all driving conditions.

 AWD vehicles send power to all four wheels, making them ideal for off-road and challenging driving environments. The choice of Drivetrain depends on the specific needs and preferences of vintage car enthusiasts.RWD vehicles are often preferred for their traditional handling dynamics and performance capabilities, while FWD vehicles offer improved fuel efficiency and practicality. AWD vehicles provide the highest levels of traction and stability, making them ideal for off-road driving or challenging weather conditions. The Drivetrain segment is expected to witness significant growth in the coming years, driven by the increasing popularity of vintage cars and the growing demand for high-performance vehicles.

Vintage Car Market Value Range Insights

The Value Range segment provides valuable insights into the preferences and purchasing power of consumers in the Vintage Car Market. The segment is categorized into five sub-segments Less than $25,000, $25,000 - $50,000, $50,000 - $100,000, $100,000 - $250,000, and Over $250,000. Each sub-segment represents a distinct group of consumers with varying levels of disposable income and preferences for vintage cars. The "Less than $25,000" sub-segment caters to budget-conscious buyers who are looking for affordable vintage cars. This sub-segment is likely to experience steady growth as more individuals seek to acquire classic vehicles without breaking the bank.

The "$25,000 - $50,000" and "$50,000 - $100,000" sub-segments represent a sweet spot for many vintage car enthusiasts. These sub-segments offer a wider selection of models and features, attracting a broader range of consumers. The "$100,000 - $250,000" sub-segment caters to a more discerning clientele who seek high-performance, rare, or collectible vintage cars. This sub-segment is expected to exhibit significant growth as demand for exclusive and iconic vehicles continues to rise. The "Over $250,000" sub-segment represents the pinnacle of the Vintage Car Market, comprising ultra-rare, historically significant, or one-of-a-kind vehicles.This sub-segment is expected to remain exclusive and highly sought-after by collectors and investors.

Vintage Car Market Regional Insights

The regional segmentation of the Vintage Car Market offers valuable insights into the market dynamics and growth prospects across different regions. North America holds a significant market share, driven by the presence of affluent collectors and a strong vintage car culture. Europe follows closely, with a rich history of classic car manufacturing and a high demand for luxury vehicles. The Asia-Pacific (APAC) region is witnessing rapid growth, fueled by rising disposable incomes and a growing interest in vintage cars as investment opportunities.South America and the Middle East Africa (MEA) regions are expected to experience steady growth, supported by emerging economies and a growing appreciation for vintage vehicles. With an estimated market revenue of USD 3.04 billion in 2023, the Vintage Car Market is projected to reach USD 4.3 billion by 2032, expanding at a CAGR of 3.95% over the forecast period.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Vintage Car Market Key Players And Competitive Insights

Players in the Vintage Car Market industry are highly focused on the strategies of gaining a competitive edge in the market. To enhance their market share, the leading players are making various investments and focusing on product innovations, acquisition and increasing incorporation. Rising disposable income, improving lifestyle change, and increasing demand among expected buyers to participate in vintage car rallies. Whether the growing marketing activities at various vintage car markets are expected to continue over the period, high demand for such events is naturally boosting the growth of the vintage car market. 

Changing demographic factors such as rising disposable income and changing lifestyles are also favoring the growth of the industry.RM Sotheby’s and Gooding Company are major players in the Vintage Car Market. RM Sotheby’s is one of the world’s leading auction players of fine art and collectible cars. Some of the classic vintage cars that have been displayed and auctioned here include Alfa Romeo, Aston Martin, Jaguar, Delahaye, Bugatti, Ferrari, Talbot-Lago, and Rolls-Royce, among others. Gooding Company is Better known for its curated auctions. The Los Angeles is a world-renowned auction house specializing in sales of both modern and classic collector cars.

Key Companies in the Vintage Car Market Include

• Worldwide Auctioneers


• Bonhams


• Mecum Auctions


• H Classics


• Sotheby's


• BarrettJackson


• Gooding Company


• Andrews Auction Services


• RM Sotheby's


• Christie's


• Russo and Steele


• Coys


• Silverstone Auctions


• Historics Auctioneers


• Bonhams Butterfields

Vintage Car Market Segmentation Insights

Vintage Car Market Vehicle Type Outlook

• Classic Cars


• Antique Cars


• Muscle Cars


• Sports Cars


• Luxury Cars

Vintage Car Market Engine Type Outlook

• Gasoline


• Diesel


• Electric


• Hybrid

Vintage Car Market Condition Outlook

• Excellent


• Good


• Fair


• Poor

Vintage Car Market Drivetrain Outlook

• Rear-Wheel Drive


• Front-Wheel Drive


• All-Wheel Drive

Vintage Car Market Value Range Outlook

• Less than $25,000


• $25,000 - $50,000


• $50,000 - $100,000


• $100,000 - $250,000


• Over $250,000

Vintage Car Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa