HAGI classic car index rises 3.5% in June



2015-06-26 13:47:49

HAGI classic car index rises 3.5% in June

The HAGI classic car index rose significantly in June as the summer sales began

June saw a newly galvanised classic car market experience its first significant growth of2014, with the HAGI top benchmark increasing 3.5% - up to 3.4% for the year to date - a promising improvement on the year's previously disappointing results.

The year's slow level of growthrepresents no real cause for concern and is liable to speed up into July and August as a series of major sales take place in Europe and the US - including Monterey, Harrisburg and RM Auction's Motor City sale.

Many observers see this year's more downbeat figures as a necessary correction following last year's record-breaking performance.

Ferrari 375 The recent sale of a Ferrari 375 Plus is likely to have galvanised the market

Porsche has been a rare success storyin 2014- up 7.6% in June and 10.1% for the year.

Ferrari's figure for the year remains lower than Porsche, although the marque experienced growth of 12.1% in June (considerably more than Porsche) - which raises it out of negative figures.

The recent sale of a 375 Plus at Goodwood is likely to have had a substantial impact on that new figure.

TheMercedes indexhas dropped to -1.36 for the year, although a dedicated Mercedes-Benz auction at Bonhams in Stuttgarttoday could well turn the marque's fortunes around.

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