Growth is driven by the cultural and nostalgic appreciation of these vehicles, as well as their investment potential
The global classic car market is booming, reflecting growing interest from collectors and investors. According to estimates by the Credential researchThe industry is expected to experience a compound annual growth (CAGR) of 8.7% through 2028, reaching a value of $51.3 billion. This increase is driven by the cultural and nostalgic appreciation of these vehicles, as well as their investment potential.
Classic cars, defined as vehicles more than 20 or 30 years old, have become true works of art on wheels, attracting collectors, investors and museums. The economic appreciation of models such as the 1960s Ferrari 250 GTO, already sold for over $70 million at auctions, exemplifies how lucrative the market can be.
In Brazil, the classic car market follows the pace of global expansion. Recently, the manager Azimut Brazil has announced the launch of an investment fund specializing in luxury classic cars. According to Wilson Barcellos, CEO of Azimut, the sector is growing at double the rate of GDP, and the search for these vehicles with high historical value has attracted a public increasingly interested in diversifying their investments.
Another highlight in Brazil is the export of classic cars, which attracted the attention of the international market. Brazilian cars from brands such as Volkswagen, Ford, Chevrolet and Fiat are very popular abroad, especially in Europe. In addition to their rich automotive history, many of these vehicles are in excellent restored condition, making them easy to appreciate in discerning markets.
It is no coincidence that professionals like Roberto Crestani, a goldsmith’s hammer specialist for almost 30 years, are increasingly in demand. Crestani, owner of Beto Martelinho de Ouro in Florianópolis and author of the book “Golden Hammer – Techniques and Tricks”, is a reference when it comes to restoring classic cars. “The hammer allows you to remove the dent without having to change the part or alter the original paint job,” he explains. His artisanal technique is particularly appreciated by collectors of classic cars, who seek to preserve the integrity of their vehicles as much as possible.
Crestani has already restored iconic models such as the 1967 Mustang, the 1974 Opala and the 1953 Beetle, and his skills have led him to work in several European countries, such as Spain, where he held courses on the hammer drill technique ‘gold. “These cars often suffer minor damage in garages, which can be restored with a hammer, maintaining the originality of the vehicles,” adds the specialist.
According to the Markets and MarketsThe global automotive restoration market, which includes classic models, is expected to grow 11.2% per year through 2030, reaching a value of $5.5 billion.
Website: https://www.credencersearch.com/report/classic-cars-market
Source: Terra
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