As economic recovery picks up steam, demand for classic cars of all makes and models is anticipated to grow. That growth will encourage more companies to enter the industry, increasing competition. Long-term industry growth prospects will also be moderated by external competition from online-only dealers. Web-based car dealers pose a formidable external threat to the industry because these firms can market to an international audience and have lower operational costs.
This industry sells classic and antique cars. IBISWorld defines a classic car as either a foreign- or American-made vehicle that was manufactured more than 25 years ago and is no longer in production. An antique car is defined as a vehicle manufactured more than 45 years ago. Companies may sell previously purchased cars or third-party vehicles on consignment. They may also sell vehicles at an auction, but individuals who sell their own cars at an auction are excluded from this industry.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.