HAGI TOP INDEX

WITHIN THE BLINKERED focus-field of short-term goggles the HAGI Top’s bear market rally of 5.83% through September looks impressive. Indeed, the Top’s September upswing was mirrored in many other areas of the market, lifting them into positive territory for the year to date.

In October the HAGI Top was little changed, down 0.97%, and the lack of change was reflected in most other market segments. That leaves us with a trace since the early part of the year that looks like the profile of the Loch Ness monster. And that means nothing. For a truer picture, in fact, you need to look past the background noise of short-term volatility.

Year to date, the ‘head’ is not far ahead of the ‘tail’ – 1.21% in front. And year-onyear the HAGI Top’s growth stands at 4.61%. Compare that with the same period last year when the annual gain was 13.67%.

Thinner volumes and highly selective buying are characteristics of today’s world; so, too, is mixed pricing. Indeed, models at the lower end of the price pyramid are among those making positive contributions, with strong pricing among some higher-production, lower-value cars, as well as choice ‘youngtimers’.

The common factor is that these are cars that have underperformed when rated against initial purchase price. It’s a marker of diversity and diversification, and it is particularly noticeable that the auction houses and dealers are responding to the fresh thinking of many of today’s buyers with shifting and expanding offerings. For proof, look no further than the fact that some HAGI internal measures in this area have gained more than 20% year-to-date.

Visit historicautogroup.com for further market analysis.