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Vintage passion: growing opportunities for the classic car aftermarket
Giuseppe Polari - Director of the Giornale dell’Aftermarket
Vintage car collecting is a growing phenomenon in recent years, which brings with it a growing demand for restoration and maintenance. An attractive and wealthy market, in which services and spare parts, however, will need to be more and more specialized.
Love for the past, for retro or vintage models has always characterized the sector’s professionals as well as most two and four wheel enthusiasts. When asked what prompted them to take up their profession, the most common reply you will get from most car specialists is: a passion for cars. And often enough this passion is equally shared between modern hi-tech vehicles and vintage models.
For those who easily succumb to the excitement of hearing engines roaring, of driving without all the modern electronic devices filtering the experience, by the slender and powerful retro designs and brands that made a mark in the automotive history, there are some unique, authentic places where real enthusiasts are able to come in close contact with the world of vintage cars. Places that provide a flurry of opportunities whether spare parts stores, accessories dealers and workshops, where not only cars and motorbikes are to be found, but a great deal of passion too and, obviously, spare parts.
Not to mention that business opportunities, linked to a sector made up by what may appear as a crowd of nostalgic enthusiasts, can be more than satisfactory for those who actively and competently work within it. Trips to the local scrap-yards are no longer necessary, yet finding an equivalent part to the original, perhaps even more technically advanced, is still Paramount. A closer look reveals how requests made by the sector’s operators are extremely diverse, which happens to be a great business opportunity for companies willing to invest in this sector. And the number keeps growing as classic cars involve – almost always – those with enough money to invest in simple maintenance activities or in restoring a vehicle that brings back fond memories. The market is currently enjoying a growing demand for vintage cars restorations, hence the need to rely on someone who knows not only the history of a specific model, but uses also quality parts and products. Looking at the entire aftermarket sector we can safely say that about a third of the companies have at least one vintage product. Perhaps they might not say it out loud, as they are unaware of the potential value of such parts, but they have them. The time has now come to rediscover this line of business, for themselves, for our past and also because classic cars mean not becoming forgetful of what we once were. Meanwhile, let us not forget that policy guidelines on the difference between vintage and “old” cars are contained in 60th article of the Traffic Law which in part says: “…vintage motorcycles and automobiles are considered to belong to the category of vehicles with atypical characteristics as well as motorcycles and automobiles of historical interest or as a collector’s item”. According to a study by Il Sole24Ore the classic car sector is worth something in the region of 4 billion dollars, although 25% of it is destined to auction houses. And last but not least, the vintage car market does not account only for Ferrari, but also for Alfa Romeo, Fiat, Porsche and a vast number of other popular brands. The next few articles will include suggestions on how to look at the feasibility of opening a classic vehicle spare parts business. Perhaps reading a few new soon to be launched magazines….
For those who easily succumb to the excitement of hearing engines roaring, of driving without all the modern electronic devices filtering the experience, by the slender and powerful retro designs and brands that made a mark in the automotive history, there are some unique, authentic places where real enthusiasts are able to come in close contact with the world of vintage cars. Places that provide a flurry of opportunities whether spare parts stores, accessories dealers and workshops, where not only cars and motorbikes are to be found, but a great deal of passion too and, obviously, spare parts.
Not to mention that business opportunities, linked to a sector made up by what may appear as a crowd of nostalgic enthusiasts, can be more than satisfactory for those who actively and competently work within it. Trips to the local scrap-yards are no longer necessary, yet finding an equivalent part to the original, perhaps even more technically advanced, is still Paramount. A closer look reveals how requests made by the sector’s operators are extremely diverse, which happens to be a great business opportunity for companies willing to invest in this sector. And the number keeps growing as classic cars involve – almost always – those with enough money to invest in simple maintenance activities or in restoring a vehicle that brings back fond memories. The market is currently enjoying a growing demand for vintage cars restorations, hence the need to rely on someone who knows not only the history of a specific model, but uses also quality parts and products. Looking at the entire aftermarket sector we can safely say that about a third of the companies have at least one vintage product. Perhaps they might not say it out loud, as they are unaware of the potential value of such parts, but they have them. The time has now come to rediscover this line of business, for themselves, for our past and also because classic cars mean not becoming forgetful of what we once were. Meanwhile, let us not forget that policy guidelines on the difference between vintage and “old” cars are contained in 60th article of the Traffic Law which in part says: “…vintage motorcycles and automobiles are considered to belong to the category of vehicles with atypical characteristics as well as motorcycles and automobiles of historical interest or as a collector’s item”. According to a study by Il Sole24Ore the classic car sector is worth something in the region of 4 billion dollars, although 25% of it is destined to auction houses. And last but not least, the vintage car market does not account only for Ferrari, but also for Alfa Romeo, Fiat, Porsche and a vast number of other popular brands. The next few articles will include suggestions on how to look at the feasibility of opening a classic vehicle spare parts business. Perhaps reading a few new soon to be launched magazines….
