Elon Musk at the Tesla Motors press conference at the 2009 North American Auto Show.
James Leynse | Historical Corbis | Getty Images
The term “collectible car” may conjure up images of a 1930s convertible, or perhaps a washed-out muscle car. But time goes on. A new crop of all-electric and hybrid vehicles has begun to attract collectors despite price cuts for new EVs and a volatile used market where five-year-old EVs are depreciating by nearly 50% and. used hybrids hold their value better than every type of vehicle except trucks.
So which EVs and hybrids can be collected and possibly rise in value in the coming decades?
“What people love when they’re young they collect when they’re older,” said Daniel Strohl, editor of the Hemmings Daily collector car publication. “We saw that with the muscle car rush, and we’re seeing it now with 1980s trucks and Japanese imports that are popular with small collectors.”
The biggest reasons for the collection are design, functionality and historical significance, noted John Wiley, manager of valuation analysis at Hagerty, which provides auto insurance tax and auto valuation data, among other auto market services. “If a car did something important, looked good and was fun to use, it would be collected.”
Rarity and condition are also important factors, said Dietrich Hatlapa, founder of Historic Automobile Group International, which tracks the market with several indexes. “Smaller production numbers help,” he said. “With mass-produced cars, typically only clean, low-mileage examples are collected.”
As with most things, power and beauty add to the car’s appeal. High-end sports cars require more premium than more pedestrian cars. “It’s about bragging rights, so head-turning cars like the Tesla Roadster and the BMW i8 are getting interest,” Hatlapa said.
Early EV collections
Some early EVs and hybrids are already highly collectible. This includes historical Owen Magnetic hybrid 1915 to 1921 and elegant 1996 to 1999 EV1 which General Motors made available to employees around the turn of the millennium.
Here are recent limited-production models from major automakers that meet all or most of the collectible criteria mentioned by experts. The couple has already gone up in value. Some may, some day.Â
Acura NSX (2017-2022)
Honda’s original NSX, introduced for the 1991 model year, showed the world that exotic mid-engine sports cars could be reliable and adequate for everyday driving. These are the original cars highly collectible and that bodes well for the second-generation, all-wheel-drive hybrid with up to 600 horsepower on sale from 2017 to 2022. This latest NSX can hit 60 miles per hour in just 2.9 seconds and keep its grandfather’s reputation alive and well. comfortable interior and intuitive controls. The NSX hybrid had a starting MSRP of $157,000, and has already topped $230,000 for auction.
BMW i8 (2014-2020)
The i8 was a plug-in hybrid offered as a 2+2 coupe and two-seat convertible. The i8 isn’t particularly rare — BMW built more than 20,000 over the model’s seven years — and the four-second 0 to 60 time wasn’t particularly fast considering its starting price was around $150,000. But the i8 has several things working in its favor: beauty and presence. It looks like a big car with “Lambo style” butterfly doors. Additionally, BMW is a passionate brand with a decades-long lineup of vehicles that appeal to collectors.
Cadillac ELR (2014 and 2016)
Cadillac ELR coupe.
Cadillac
The ELR coupe was based on GMThe regular Chevrolet Volt but featured more power and a luxurious interior covered in leather, wood and carbon fiber. Early-run ELRs featured 217 horsepower and 37 miles of electric range, increasing to 233 horsepower and 39 miles of range in 2016. Cadillac sold less than 3,000 in total, making it one of the rarest cars of brand. This rarity, along with its beautiful style, may appeal to future collectors. However, although they were originally listed at $76,000, used ELRs have declined significantly, and generally sell for less than $20,000 today.
Tesla Roadster (2008-2012)
The Tesla Roadster was shown during its production debut at the Tesla Flagship Store in Los Angeles on May 1, 2008.
Vince Bucci | Getty Images Entertainment | Getty Images
The Tesla Roadster was introduced in 2003 by company founder Martin Eberhard. The two-seater targa is not only beautiful, fast and rare, but also has historical significance as the company’s first production car. The Roadster’s original MSRP was $98,000, but well-maintained examples have sold for over $200,000 to collectors. With a range of over 200 miles and a 0 to 60 time as low as 3.7 seconds, the Roadster can still compete with the most modern EVs. Less than 2,500 were produced as of 2012.
Tesla has a new Roadster in the works expected to begin deliveries in 2025. The four-passenger coupe is expected to start at $200,000, and CEO Elon Musk says it will accelerate to 60 miles per hour in less than a second, which it could. make it the fastest street legal car sold in the US, if true.
Volkswagen XL1 (2013-2016)
Volkswagen XL1.
Volkswagen
Volkswagen is the world’s largest automaker, but it only made 250 of these spaceship-like hybrids. The XL1 it remains the best road car ever sold with a combustion engine. It can get more than 261 miles per gallon thanks to a unique plug-in diesel-electric hybrid system, very low weight and aerodynamic shape. These sell for around $150,000 when new and can command more than $111,000 at the auction. They have never been imported to the United States, but anyone rich enough to afford one might be able to afford it.
Very expensive exotic EVs and hybrids
While six- and seven-figure cars depreciate in value, it’s not uncommon for rare, extremely fast, and beautiful models to be collected and increase in value over time. For example, the 1992 to 1998 McLaren F1 sold for about a million dollars new, but has commanded up to $20.5 million at auction. It was the fastest production car of its day, topping out at over 240 miles per hour, and only 106 were produced.
The very top of the car market works by its own rules, which promote the collection.
For example, Ferrari is known to have “invite only” sales of special editions where only existing customers in good standing are allowed to purchase. That builds loyalty among existing customers, increases jealousy among sales prospects and helps keep Ferrari prices high. The Italian brand, along with other luxury manufacturers such as Porsche and Aston Martin, also offers restoration and certification services for its classic cars. The business model works. Ferrari sold every single one of the 1,398 SF90 XX Stradale hybrids it planned to produce before the car’s official launch last June.
Luxury carmakers are also known to rein in their used sales, as seen last year when Rolls Royce threatened list any buyers which turns out its first all-electric car, the Specter coupe.
The challenges of EV aging
One problem with collecting vintage EVs can be keeping them on the road. Internal combustion engines have been around for over a century and mechanics everywhere know how to fix them. In comparison, EVs are still rare, and modifying them can require specialized knowledge. In addition, battery, charger and computer technology is still changing rapidly and parts can be hard to come by.
“Batteries are not designed to last more than 15 or 20 years, and the replacement or repair (EV) market is just starting to develop,” Strohl said. “Also, even if you can use a new battery in an old car, the software may not be compatible.”
People collect cars out of passion, nostalgia and meeting like-minded enthusiasts. This is all good stuff, but actually making money on a toy car is hard. Like If financial gain is your main goal, you may be better off sticking with a diversified index fund. This is true even for cars that are highly valued.
For example, a well-maintained 1997 Toyota Supra Turbo that listed for $39,067 when it was new sold for $230,000 at auction in 2022 — a profit of about $191,000, excluding storage, insurance and other costs. If that original Supra purchase price had instead been invested in an S&P 500 index fund at the start of 1997, it would have grown to $322,477 by the end of 2022, minus a few thousand in fees — a gain far greater than that. $283,000.
For another example, the aforementioned McLaren F1 may have been valued more than 20 times since its inception, but the S&P 500 has risen nearly as much — 1,900% growth since January 1992 — and without the F1’s massive additional insurance. , storage, fuel and maintenance costs.
Of course, you can’t walk around in an index fund, or show it off at the corner coffee shop.Â