The Pandemic currently has changed the future of Classic muscle cars. It may seem odd that these big, heavy, profligate, honking V8-powered, rear-wheel-drive, American coupes from the 1960s and ’70s are gaining popularity in a time defined by rising energy prices, increasing environmental awareness, and a profound shift toward electric vehicles. Purchasing a restored car now seems to be more costly than building one yourself.
“We have an index that we produce called the Hagerty Muscle Car Index, and it is at an all-time high,” said Brian Rabold, vice president of automotive intelligence for Hagerty, the data and analysis wing of the specialty vehicle insurance and editorial behemoth. “Over the last 12 months, it’s gone up 44%. Year to date, it’s up 7%. So, really strong gains.”
While those figures are reflective of the top of the muscle car market — cars with average values of $400,000 or so — similar trends are occurring everywhere in the category. According to Hagerty’s valuation tools, muscle car values across the spectrum are up 19% over the last 12 months.