Looking to beat inflation and invest in something a little more exciting and unique than stocks or shares? While the value of classic cars can be unpredictable, there are certain models that are poised to become desirable in 2023.
At the end of last year, insurance specialists Hagerty named 10 cars they predict will spike in value in the not-too-distant future. And some of them… well, they may just raise a few eyebrows.
So put your pedal to the metal and invest in one of these unlikely classics in 2023…
The Citroen BX
Citroen’s distinctive family-size hatchback might be a bit weird looking, but it was a hit with car buyers of the 1980s — more than 2.5 million were sold between 1982 and 1994. It was ahead of its time, a technological marvel, with hydropneumatic suspension offering a smooth and comfortable ride. Now it’s becoming increasingly desirable; last July, a Citroën BX 4TC sold for €77,480. And while that was a rare rally edition, Hagerty reckon it could help to raise the profile of the model, bumping up prices across the board.
Ford Fiesta (Mk1)
Last October, Ford announced they were ceasing production of their iconic supermini, which immediately made all Fiestas that bit more desirable. The Mk I — which was already a genuine classic — should see its value increase the most. According to Hagerty: “Even for humbler cars like our 1.1 Popular Plus, prices are on the way up – a pre-Covid average of £3625 has risen to £4325. Not much in monetary terms but still a 19 per cent increase.”
Saab 99 Turbo
Robust, economical and fun to drive, this sporty sedan was the epitome of Swedish cool. Sadly, Saab went bankrupt in 2011, but the 99 Turbo remains sought-after by collectors; prices range from £4,000 to £21,700 on the current market, but Hagerty’s team believe that vehicles could fetch £30,000 in a couple of years’ time.
Triumph Spitfire
With its agile handling and sporty performance, this British Roadster was a true driver’s car. It was produced in high volumes from 1962 to 1980, so there has always been plenty on the market. As a result, Spitfires are the DIY project of choice for many oily-handed enthusiasts who may soon start seeing a return on all that money they’ve spent on replacement parts; according to Hagerty, values are up 27% since 2020.
Audi TT Quattro Sport (Mk1)
The Audi TT is sometimes seen as having a little more style than substance, but it’s not all about looks. The Quattro Sport has plenty to keep drivers happy; it’s quick, handles well and is fairly economical. And as a result, average prices are on the up, with “low mileage, clean examples with great service history performing best,” according to Hagerty,
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