Import-export balancing act
In May we reported on Americans buying European classics in increasing numbers from Britain as the European classic scene became more prominent.
A lot has happened since May – primarily Brexit. Since then, volatile markets have become even more unstable. First there was a drop in sterling values. Then the dollar slumped following the announcement of new US President elect Donald Trump.
But classic trade expert John Kulin says that export business is still good, adding that it might also be a good time to import American cars in to Britain.
He says: ‘Business remained as-is when the exchange rate fell but has dropped off more post-Brexit. It’s still lively – we’re seeing lots of people exporting more. Best of all, Americans have noticed that British buying power has fallen, so quite a few places in America have dropped prices.
‘Now could be a good time to buy that classic American car you’ve been promising yourself for years.’
One of the factors pushing up UK-based Citroën 2CV values is an increase in demand from the North American market.