2019 AUSSIE MARKET
MARKET TRENDS IN THE POST-LOCAL-BUILD ERA RAISE A FEW QUESTIONS – CLIFF’S EXPERT ANALYSIS PROVIDES ANSWERS
WE THOUGHT that by now the grief generated by the loss of Australia’s car-manufacturing sector might have abated. It hasn’t, which is bad for new car sales but a good thing for the older-car market.
In an economic climate where there should be no good news for anyone buying a car or trying to sell one, nostalgia remains a strong motivation. However its effect cannot be relied upon forever and there are still issues that will eventually affect the numbers of buyers in the market and prices that can be achieved.
Stock market returns are booming but if interest rates go any lower we will be paying the banks to mind our money. Residential real estate which underpins a lot of recreational vehicle purchases is still in the throes of a downturn and the personal loan market is tight. Yet cars still sell and for ver y respectable money.
Looking at auction results we find the bulk of sales are not the high-profile, heavily publicised exotics but usable pieces of local automotive history in the $15-30,000 price range. And why not?
Over several decades since the 1960s this country built some of the best cars of their kind in the world. Our classic high-performance models easily outstrip the prices paid for equivalent designs in the much larger North American musclecar market.
Even our basic ‘family’ cars perform better than British and European models of similar age. A 4.2-litre Kingswood with plastic seats and a beam back axle will make similar money to an independently-suspended Jaguar XJ6 and way more than the likes of 1970s Volvos or Peugeots.
This year’s Aussie Guide extends into the sports car market as well, tracking values for models like the local Ford Capri, replica Cobras and the diminutive Goggo Dart.
There should be a lot more in these listings but Australia as a car-building nation really didn’t take advantage of its famed outdoor lifestyle and for many years handed the sporty segment to overseas suppliers.
Of the locals, Ford does best in terms of cost and availability but if you want a world-class design and can spend $50,000+ then hunt down one of Bolwell’s V8 Nagaris. Replica Cobras have lost much of the fascination they once held, although it is still interesting to see the response of onlookers to a locally-built GT40.
Finding an affordable vehicle with local histor y isn’t difficult. We have seen resurgent interest in the once-derided Leyland P76, most of which remain below $20,000. Another onceignored model enjoying a resurgence is the R31 Nissan Skyline, with younger buyers in particular preferring the Skyline to a Commodore or Falcon.
Some choose to smarten the body while leaving the mechanicals virtually untouched. Others head to the import wrecker with fistfuls of cash and plans to build a Godzilla Killer or drift weapon, but whichever route they take it does keep another threatened Aussie model on the road for a little longer.