You might want to consider investing in one, if you can snag a decent price.
According to reports, the recent announcement that General Motors will wrap up the Holden brand in Australia is sending prices of classic cars soaring. It might seem borderline unbelievable, but some sources like Lloyds Auctions in Australia say certain classic Holden models have seen a sudden doubling in market value after the revelation from GM.
That could mean if you’re lucky enough to have one of the more desirable models in your possession the most difficult decision you face is whether to sell now or wait and see if prices increase further. Just keep in mind that such price inflation might not be happening in all markets, so definitely do some research for where you live.
For example, in the United States Holdens are pretty rare. Despite that scarcity, you can often pick them up for far less than a comparable Chevroletor Ford model from the same year. However, in Australia where more feel a connection to the brand which represented national pride for them, the market for classic Holdens has been much stronger and seems to only be increasing.
The surge in interest seems to only apply to classic Holdens, not new models. A Car Advice report highlights the struggle dealers are facing offloading new Holden stock since shoppers are skittish about owning a vehicle from a soon-to-be-defunct brand. This, despite the reassurance from GM that parts will continue to be available for years to come. To balance that reluctance out, dealerships are offering big discounts on new vehicles.
Sadly, much of the Holden brand has recently been reduced to rebadged Chevrolet and GMC models. Still, many Australians and others remember fondly when Holden represented what they view as the best of what the island nation had to offer. That nostalgia could keep values high and increasing as time marches on.
Sources: Yahoo Finance, Car Advice
Photos credit: General Motors