The future of electric cars in the collectible car market, from Tesla to BMW

The term “collectible vehicle” may conjure images of a sleek convertible from the 1930s, or perhaps a souped-up muscle car. But time moves. A new crop of all-electric cars and hybrids are starting to attract collector interest despite deep price cuts for new electric cars and a volatile used car market where five-year-old electric cars are falling in price by nearly 50% and used hybrids hold their value better than ever. Other cars. Vehicle category excluding trucks.

So which electric and hybrid cars could become collectible and perhaps even rise in value in the coming decades?

“What people like when they're younger becomes collectible when they get older,” said Daniel Stroll, editor of car collecting magazine Hemmings Daily. “We saw that with muscle cars collected by the boomer generation, and we're seeing that now with '80s trucks and Japanese imports that are popular with younger collectors.”

The biggest collectible factors are design, performance and historical significance, noted John Wiley, director of appraisal analytics at Hagerty, which provides aggregated auto insurance and car appraisal data. “If a car does something important, looks cool and is fun to use, it will be collectible.”

Rarity and condition are also important factors, said Dietrich Hatlapa, founder of the International Historic Cars Group, which tracks the market with several indicators. “Small production numbers help,” he said. “With mass-produced cars, usually only the most refined, low-mileage models are collectible.”

As with most things, power and beauty add to a vehicle's appeal. It requires high-performance sports cars as well as more pedestrian vehicles. “It's about bragging rights, so eye-catching cars like the Tesla Roadster and BMW i8 get attention,” Hatlapa said.

Some early electric and hybrid cars are already highly collectible. This includes the historic 1915-1921 Owen Magnetic Hybrid and the sleek 1996-1999 EV1 that GM made available to lessees at the turn of the millennium.

Below are some recent limited-production models from major automakers that meet all or most of the collectability criteria mentioned by experts. The couple's value has actually risen. The rest may be there one day

Acura NSX (2017-2022)

Honda's original NSX, introduced for the 1991 model year, showed the world that mid-engined exotic sports cars could be reliable and comfortable enough for everyday driving. These original cars are highly collectible and that bodes well for the second generation, an all-wheel-drive hybrid with up to 600 horsepower that will be sold from 2017 to 2022. The newer NSX can hit 60 mph in just 2.9 seconds and maintains The reputation of its predecessors lives on with a comfortable interior and intuitive controls. The NSX Hybrid had a starting MSRP of $157,000 and has already topped $230,000 at auction.

BMW i8 (2014-2020)

The i8 was a plug-in hybrid and was offered as a 2+2 coupe and a 2-seat convertible. The i8 isn't particularly rare — BMW built more than 20,000 over the model's seven years — and its four-second 0-60 time wasn't particularly quick considering its starting price was around $150,000. But the i8 has two factors working in its favor: beauty and presence. It looks like a supercar with dramatic, Lambo-style butterfly doors. In addition, BMW is an enthusiast brand with a collection of cars spanning decades that attracts the interest of collectors.

Cadillac ELR (2014 and 2016)

The ELR Coupe was designed on the basis of… GMMainstream Chevrolet Volt but with more power and a very luxurious interior covered in leather, wood and carbon fibre. The ELR's initial run featured 217 horsepower and 37 miles of electric range, increasing to 233 horsepower and 39 miles of electric range in 2016. Cadillac sold fewer than 3,000 cars in total, making it one of the brand's rarest cars. This rarity, coupled with its elegant design, could attract future collectors. However, although they were originally listed for US$76,000, the value of used ELRs has depreciated significantly, and generally sell for less than US$20,000 today.

Tesla Roadster (2008-2012)

the Tesla The Roadster was designed in 2003 by company founder Martin Eberhard. The two-seater with a targa roof is not only beautiful, fast and rare, but it also has historical significance as the pioneering company's first production car. The starting MSRP for the Roadster was $98,000, but well-preserved examples have sold for over $200,000 to collectors. With a driving range of over 200 miles and a 0-60 time of 3.7 seconds, the Roadster can still compete with more modern electric cars. Fewer than 2,500 were produced during 2012.

Tesla has a new Roadster in the works with deliveries scheduled to begin in 2025. The four-passenger coupe is expected to start at $200,000, and CEO Elon Musk says it will accelerate to 60 mph in less than one second, Which will achieve it. Make it the fastest road legal car sold in the United States, if that's true.

Volkswagen XL1 (2013-2016)

Volkswagen is the world's largest automaker, but it has only built 250 spaceship-like hybrid cars. The XL1 remains the most efficient car ever sold with a combustion engine. It can get more than 261 miles per gallon thanks to its unique diesel-electric hybrid system, extremely low weight and extremely aerodynamic shape. It sold for about $150,000 when new and can fetch more than $111,000 at auction. They were never imported into the United States, but anyone wealthy enough to afford one might be able to swing them.

While six- and seven-figure cars depreciate in value, it is not uncommon for the rarest, fastest and most beautiful examples to become collectible and rise in value significantly over the long term. For example, a 1992 to 1998 McLaren F1 sold for about $1 million when new, but fetched up to $20.5 million at auction. It was the fastest production car of its day, reaching speeds of over 240 mph, and only 106 were produced.

The top end of the car market operates under its own rules that enhance collectability.

For example, Ferrari has been known to have “by invitation only” sales of special editions where only existing customers in good standing are allowed to make a purchase. This builds loyalty with existing customers, fuels envy among potential customers and helps keep used Ferrari prices high. The Italian brand, along with other luxury goods makers such as Porsche and Aston Martin, also offers restoration and certification services for its classic cars. The business model works. Ferrari has sold all 1,398 SF90 XX Stradale hybrid cars it planned to produce before the car's official launch last June.

Luxury carmakers are also known to monitor their used sales, as we saw last year when Rolls-Royce threatened to blacklist any buyers of its first all-electric car, the Specter coupe.

One issue with collecting older EVs can be keeping them on the road. Internal combustion engines have been ubiquitous for more than a century, and mechanics everywhere know how to fix them. By contrast, electric vehicles are still relatively rare, and repairing them may require specialized knowledge. In addition, battery, charging and computer technology is still evolving rapidly and replacement parts may be difficult to obtain.

“Batteries are not designed to last more than 15 or 20 years, and the EV battery replacement or repair market is just beginning to develop,” Stroll said. “In addition, even if you can use a new battery in an older car, the software may not be compatible.”

People collect cars out of passion, nostalgia and to meet like-minded enthusiasts. These are all great things, but actually making money on a college car is difficult. If financial gain is your main goal, you may be better off sticking with a diversified index fund. This applies even to cars that have increased in value significantly.

For example, a well-preserved 1997 Toyota Supra Turbo that was listed for $39,067 when new sold for $230,000 at auction in 2022 — a profit of nearly $191,000, minus maintenance, insurance and other costs. If the Supra's initial purchase price had instead been invested in an S&P 500 index fund at the beginning of 1997, it would have risen to $322,477 by the end of 2022, minus a few thousand in fees — a much larger profit of more than $283,000.

For example, the value of the aforementioned McLaren F1 may have risen more than 20 times since its debut, but the S&P 500 has risen by almost the same amount – 1,900% growth since January 1992 – and without incurring F1's significant additional insurance. Storage, fuel and maintenance costs.

Of course, you can't just walk around in an index fund, or show it off outside a corner coffee shop