Parts sales and restos boom during lockdown
An unexpected boost during the height of the pandemic was big demand for classic cars and all that they need
‘WE SAW A HUGE SPIKE IN DEMAND AS LOCKDOWN STARTED. IT WAS LIKE CAR PARTS PANIC BUYING’
WHILE THE GOVERNMENT panics that London’s ‘Prets’ are shutting as workers tuck away their season tickets and Skype in their pyjamas, the classic market is booming. Sales of classic cars and parts are defying the forecasts of gloom as more people choose to buy a classic and the spares to keep it on the road. A combination of less commuting, more free time and even cash from redundancies is helping fuel a rise in classic popularity.
Perhaps unsurprisingly, the year didn’t begin well for classic dealers and parts suppliers. Matthewson’s Auctions boss Derek Matthewson says: ‘We were seriously worried when we saw lockdown looming and debated whether we should hold our 21st March auction behind closed doors or with the public present.’ It’s a sentiment echoed by Mark Burnett, managing director of fuel system specialists Burlen: ‘We were shut for two weeks solid and saw two months of slow orders. When we started to come back to work, we did it pretty cautiously with just 10 to 15 staff.’
Once the first phase of lockdown started to lift, though, demand surged. Burnett continues: ‘We quickly realised we needed more of the team back; then, as demand rose, we needed more of them and still more! And we’ve seen absolutely no sign of the usual August dip.’ Matthewson concurs: ‘We thought we’d sell 60-70 vehicles in our March sale, but we sold 194 with another 50 the next month. June was the busiest and most successful sale we’ve seen. We had a Rolls-Royce and would have been happy to see it reach £32k, but bidding opened at £40k and in the end it went for £46k.’
Luke Harding of classic specialist Luden Automotive thinks the rise in classic popularity may be partly down to people commuting less. ‘If I’m driving fewer miles – say only going into the office two days a week – then why not have a classic and enjoy it?’ he asks. ‘You could have something way more exciting than a modern box, something you can actually understand and work on yourself.’ He recounts the story of the recent sale of a Daimler Double Six to a client. ‘He bought it as a daily driver,’ he explains. ‘The buyer was quite happy with lower mpg for a car he’d really enjoy driving.’
Parts specialists tell similar stories. Andrew Banks of Bristol-based Alfaholics says: ‘We saw a huge spike in demand as lockdown started – it was car parts panic-buying! April
was mental and business is still strong.’ And it’s not just been parts sales. ‘We saw car sales buoyant too, with six sales we’d not expect at this time of year. Values are strong and prices really haven’t softened because of the virus.’
Banks argues that a combination of having more time in lockdown and the anodyne nature of modern cars means people crave the interaction a classic offers. Burlen’s Mark Burnett agrees, and adds that flexible working is giving some people more time for things they enjoy. ‘I used to spend an hour and a half every day commuting,’ he says, ‘but now I can spend that time in the garage with my son.’
Project cars seem a mixed bag, though, with some reports of higher prices offset by the uncertainty of Covid. Luke Harding again: ‘We’ve seen much more interest in the project cars we have, but that hasn’t translated to sales. The complexity of Covid – knowing who’s open, who can do what, what’s working normally – has made projects harder. People clearly like the idea of seeing someone else working on project cars, but may not want to take them on themselves.’
Although for many this has already been the grimmest of years, and there’s still much uncertainty around the impact of legislation and Covid-19 ahead, the classic car industry remains positive. And for enthusiasts there’s plenty of cause for optimism, as Alfaholics’ Andrew Banks says: ‘The fears we had simply haven’t been borne out. The classic car world has been resilient.’