What are the sales expectations for Monterey Car Week 2025?
Sales are expected to decline for the third straight year, potentially dropping 18% from the 2022 peak.
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Cars / Classic Cars
Monterey Car Week 2025: Sales Expectations and Dream Machines
Monterey Car Week 2025 is underway, with classic car auctions and the Motorlux event drawing enthusiasts from around the globe. Sales expectations are tepid, while Motorlux showcases a range of dream machines, from vintage aircraft to moder...
Key Insights
- Classic car auction sales are expected to decline for the third straight year, potentially dropping 18% from the 2022 peak of $471 million.
- The high end of the market is particularly weak, with only one car priced at $10 million or more, the fewest in over a decade. This is because Baby Boomers are aging out of the market, leading to an oversupply of 1950s and 1960s cars.
- Generational shift: Millennials and Gen Z collectors favor newer, more affordable cars from the 1980s, 1990s, and 2000s, including supercars from brands like Pagani, Bugatti, and Ruf. These buyers want post-1980s Porsches, BMWs and later-model Ferraris they can enjoy every day and not have to constantly repair.
- Motorlux featured 275 automobiles and 14 aircraft, highlighting both vintage and modern machines, along with offerings from top chefs and winemakers.
- Highlights from Motorlux included a one-of-a-kind Porsche 963 RSP, a 1956 T-28C Trojan aircraft, and the debut of the Shelby Super Snake-R.
In-Depth Analysis
Monterey Car Week, culminating in the Pebble Beach Concours d’Elegance, is a central event for classic car collectors and enthusiasts. This year, however, sales expectations are tempered, reflecting a broader shift in the collectible car market. Hagerty estimates sales between $367 million and $409 million, a potential 18% drop from 2022's peak. This decline is attributed to global economic uncertainty, higher interest rates, and a generational transition among collectors.
**Generational Shift and Market Dynamics**
Baby boomers, who have long driven the classic car market, are aging and downsizing their collections. This has led to an oversupply of cars from the 1950s and 1960s. Meanwhile, younger collectors are increasingly interested in modern supercars and more practical classics from the 1980s and 1990s. This shift is evident in the rising popularity of auctions featuring these newer models.
**Motorlux Highlights**
Motorlux, acquired by Hagerty in 2021, has become a key event kicking off Monterey Car Week. This year’s event featured a diverse array of vehicles, including:
- **Porsche 963 RSP:** A one-off, road-legal version of Porsche’s Le Mans prototype race car, paying tribute to the iconic 917.
- **1956 T-28C Trojan:** A vintage aircraft used in Vietnam and now serving as a trainer for fighter pilots.
- **Shelby Super Snake-R:** A track-focused variant of the Super Snake, boasting over 850 horsepower.
- **1991 Ferrari F40:** A Broad Arrow Auctions offering, and a rare stateside model with low mileage, estimated to sell for $3.5 million.
- **Bell 505:** A helicopter showcased with a unique exterior inspired by the owner's swim trunks.
- **2005 Maserati MC12 Stradale:** One of only 50 examples built, expected to fetch up to $5.5 million.
- **Jaguar Type 00 Concept:** A polarizing zero-emissions model reflecting the uncertainty of the automotive industry's direction.
FAQ
What is Motorlux?
Motorlux is an event that kicks off Monterey Car Week, featuring a collection of automobiles, aircraft, and culinary experiences.
What is causing the decline in classic car sales?
Factors include global economic uncertainty, higher interest rates, and a generational shift in collectors.
Takeaways
- The classic car market is undergoing a generational shift, with younger collectors favoring newer models.
- Sales expectations for Monterey Car Week 2025 are tepid, reflecting broader market trends.
- Motorlux offers a glimpse into the diverse world of automotive and aeronautical excellence.
Discussion
Do you think this generational shift will continue to reshape the classic car market? Let us know!
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Sources
Disclaimer
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