TRAVERSE CITY, Mich., Dec. 11, 2023 /PRNewswire/ — Hagerty, Inc., (NYSE: HGTY), an automotive enthusiast brand and leading specialty vehicle insurance provider, announced today its 2024 U.S. Bull Market list, an annual selection of wide-ranging enthusiast vehicles best poised to increase in value over the next year. Now in its 7th year, the list is compiled by the brand’s automotive intelligence team using a suite of data from public and private sales, insurance valuations and historic trends. For more details on Hagerty Bull Market and the cars included, click here.
“Bull Market is meant to empower enthusiasts to buy or sell cars with confidence in order to maximize the joy of ownership,” said Larry Webster, Hagerty Senior Vice President of Media and Editorial. “It serves as the ultimate compass, steering enthusiasts towards discovering, acquiring and enjoying their dream vehicles without all the stress associated with depreciation.”
“We’ve learned a few things from seven years of publishing this list,” said Brian Rabold, Vice President of Automotive Intelligence. “No matter which direction the market is headed, there are always cars that move ahead. These opportunities exist across decades, price bands, and genres, but ultimately, we always encourage people to buy what they love.”
The 2024 U.S. Bull Market list (excellent condition price range):
2008 – 2013 BMW M3 ($51,600 – $65,800)
The 2008–2013 BMW M3, particularly the E92 model, encapsulates the essence of modern classics that captivates collectors. a 4.0-liter V-8, a departure from subsequent six-cylinder turbocharged versions, the E92 offers a visceral and immediate driving experience, enhanced by its technological prowess, including a carbon-fiber roof and adjustable rear differential. With an average value up 34%, enthusiasts priced out of old M3s are flocking to this generation.
1965 – 1970 Chevrolet Impala SS ($30,100 – $44,500)
The Chevrolet Impala SS, an enduring symbol of American automotive heritage since its 1958 debut, became iconic with the introduction of the SS (Super Sport) option in 1961. The fourth-generation Impala, starting in 1965, set industry sales records, embodying the spirit of American muscle cars. The ’69 Impala SS, equipped with potent V-8 engines like the LS1 427, showcased all-American power and design, making it a sought-after classic that captures the essence of timeless American motoring.
1946 – 1950 Chrysler Town & Country ($81,400 – $144,000)
Chrysler’s post-war pivot led to the creation of the Town & Country, initially known for its woody wagon design inspired by the 1941 model. Its limited production and the shift from structural wood framing to decorative elements helped the Town & Country gain popularity as a luxurious status symbol embraced by the affluent on both the East and West Coasts. Today, vintage models, like those from 1947, offer a unique blend of 1940s aesthetics and driving comfort, and are proving to pique the interest of the next generation of collectors.
2011 – 2016 Ferrari FF ($143,000 – $177,000)
The Ferrari FF, introduced a decade ago, defied norms with its four-wheel-drive, four-seat layout and lack of a clutch pedal. Its shooting brake design caters to enthusiasts valuing utility in their exotic cars. Despite current depreciation, the FF’s V-12 power, dual-clutch transmission, and Ferrari mystique make it a promising investment, particularly for younger collectors who appreciate its blend of practicality and performance.
1964 – 1966 Ford Thunderbird ($41,300 – $56,400)
Reminiscent of the jet age, the Ford Thunderbird offers a soft and comfortable ride and is increasingly generating interest from Gen X and younger generations. It’s likely that many of the younger Thunderbird seekers have been priced out of Lincoln Continentals.
2000 – 2005 Jaguar XKR ($26,700 – $38,900)
Built under Ford ownership, the 2000 XKR is a supercharged variant of the original 1997 Jaguar XK8 challenging competitors like Mercedes-Benz and Aston Martin. While trailing the Aston Martin DB7, the XKR is gaining popularity with buyers under 40. Despite maintenance considerations, its reliability and potent performance make it a compelling choice, combining power and value in the luxury car market.
1981 – 1986 Jeep CJ-8 Scrambler ($41,400 – $52,600)
The CJ-8 Jeep Scrambler, one example once owned by Ronald Reagan, is a rising classic in the vintage SUV market due to its unique history, rarity and off-road appeal. Appreciating faster than the iconic CJ-7, the Scrambler attracts a lot of interest from Gen X and younger enthusiasts.
1989 Lamborghini Countach 25th Anniversary ($612,500 – $770,000)
The Lamborghini Countach stands out as a timeless icon associated with the bold aesthetics of the 1980s. Thanks to its limited production and historical significance, owning one represents a unique investment opportunity. The rarity of well-preserved models, combined with the car’s enduring allure, celebrity, and increasing market demand, have made this a popular choice for millennial collectors.
1997 – 1999 Mitsubishi Pajero Evolution ($50,000 – $70,000)
The Mitsubishi Pajero Evolution, born out of the brand’s rally dominance in the Paris-Dakar Rally, offers a unique and limited-run, off-road rally experience. As a collectible, particularly in Japan and now available in the U.S. under the 25-year import exemption, the Pajero Evolution’s distinctive design and heritage make it a sought-after gem for enthusiasts familiar with Japanese automotive esoterica.
1997 – 2002 Plymouth Prowler ($34,800 – $45,500)
One of the strangest fun cars ever to make it to the showroom floor, the Plymouth Prowler is a love letter to the hot-rod scene. Perhaps surprisingly, members of Gen X (born between 1965 and 1980) are now trickling into the Prowler, slowly supplanting the boomers who were the initial target when the car was conceived.
About Hagerty, Inc. (NYSE: HGTY)
Hagerty is an automotive enthusiast brand committed to saving driving and fueling car culture for future generations. The company is a leading provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the 67 million Americans who self-describe as car enthusiasts. Hagerty also operates in Canada and the U.K. and is home to Hagerty Drivers Club, a community of over 800,000 who can’t get enough of cars. As a purpose-driven organization, Hagerty Impact aims to be a catalyst for positive change across the issues that matter most to our teams, our members, the broader automotive community, our shareholders and the planet at large. For more information, please visit http://www.hagerty.com or connect with us on Facebook, Instagram, Twitter and LinkedIn.
More information can be found at newsroom.hagerty.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. These forward-looking statements reflect Hagerty’s current expectations and projections with respect to its expected future business and financial performance, including, among other things: (i) expected operating results, such as revenue growth and increases in earned premium; (ii) changes in the market for Hagerty’s products and services, (iii) Hagerty’s plans to expand market share, including planned investments and partnerships; (iv) anticipated business objectives; and (v) the strength of Hagerty’s business model. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “outlook,” “plan,” “potential,” “project,” “seek,” “target,” “can,” “could,” “may,” “should,” “would,” “will,” the negatives thereof and other words and terms of similar meaning.
A number of factors could cause actual results or outcomes to differ materially from those indicated by these forward-looking statements. These factors include, among other things, Hagerty’s ability to: (i) compete effectively within its industry and attract and retain members; (ii) maintain key strategic relationships with its insurance distribution and underwriting carrier partners; (iii) prevent, monitor and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages with its technology platforms or third-party services; (v) accelerate the adoption of Hagerty’s membership products as well as any new insurance programs and products; (vi) manage the cyclical nature of the insurance business including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims; (vii) comply with the numerous laws and regulations applicable to Hagerty’s business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet and accounting matters; (ix) manage risks associated with being a controlled company; and (x) other risks and uncertainties indicated from time to time in documents filed or to be filed with the Securities and Exchange Commission (the “SEC”) by Hagerty.
The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in the Company’s other press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important in order to fully understand Hagerty’s reported financial results and our business outlook for future periods.
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