Young drivers in the UK are increasingly investing in retro cars, aiming to profit from these nostalgic vehicles in the future. Research conducted by Cazoo highlights a significant shift in the used-car market, with many buyers viewing retro models not just as personal expressions but as valuable investments. The study reveals that 27% of Generation Z plans to purchase a retro car within the next decade, surpassing the 19% of Millennials expressing similar intentions.
The appeal of these vehicles lies in their distinctive designs and the emotional connections they evoke. A notable 68% of respondents indicated that a car’s potential to retain or increase its value is a crucial factor in their purchasing decisions. The trend is particularly relevant as many young individuals find themselves priced out of the housing market, leading them to seek alternative, tangible assets.
According to Lucy Tugby, Marketing Director at Cazoo, “Cars have always been about freedom and individuality – but for Gen Z, they’ve also become a way to invest in something tangible and lasting.” This sentiment is echoed by Charlie Harvey, Cazoo’s Motoring Expert, who identifies several retro models that could soon be considered future classics.
Top Retro Cars Gaining Popularity
1. **Toyota MR2**: Known for its sporty design and mid-engine layout, the Toyota MR2 offers an exciting driving experience. Currently affordable and easy to maintain, it is positioned as an ideal entry point for classic sports car enthusiasts.
2. **Classic Mini**: Produced from 1959 to 2000, the Classic Mini is widely regarded as an iconic vehicle. Its playful design and simplicity make it a favorite among car lovers, with a robust community ensuring easy access to parts and advice.
3. **Mazda MX-5**: The early MX-5, designed as a back-to-basics roadster, has gained classic status since its launch in the 1990s. While prices for these cars are starting to rise, they remain relatively affordable for buyers.
4. **Nissan 300ZX**: Although overshadowed by other Japanese icons, the Nissan 300ZX boasts advanced technology for its time. Potential buyers should be prepared for maintenance costs due to its complexity.
5. **VW Corrado**: This distinctive coupe, particularly the VR6 versions, is becoming a sought-after model. Priced around £6,000, it is regarded as a “holy grail” among enthusiasts for its performance.
6. **Ford Fiesta**: With its production run concluding in 2023, the Ford Fiesta has entered the realm of modern classics. Early sporty editions like the XR2 and RS Turbo have become particularly valuable.
7. **Honda Prelude**: The eye-catching design of the Honda Prelude sets it apart from contemporary vehicles. With renewed interest following Honda’s announcement of a new model, the classic versions are likely to see a rise in value.
8. **Ford Puma**: Initially a Fiesta-based coupe, the original Puma is celebrated for its handling and style, with strong examples available for under £4,000.
9. **BMW 3 Series (E36)**: As the E36 generation becomes scarcer, prices are climbing. While finding a well-maintained model requires effort, it offers a rewarding driving experience as a rear-wheel-drive sports saloon.
The surge in interest for these retro models reflects a broader trend among younger consumers who prioritize both personal enjoyment and the potential for financial appreciation in their automotive choices. As the market continues to evolve, these classic vehicles are likely to secure their place as valuable assets in the years to come.
