ANI
18 Feb 2020, 16:07 GMT+10
New Delhi [India], Feb 18 (ANI/NewsVoir): India's number one classifieds platform and a leader in the pre-owned auto industry, OLX today released data on the rising popularity of vintage cars on its platform.
Vintage car listings on the platform have doubled in 2019 since 2017. Vintage bikes too have emerged to be a popular category with 4000 plus bikes being listed for sale on the platform in 2019. The high interest in both vintage cars and bikes is evinced by the demand each of the categories attracts.
Overall, ad listings of vintage bikes attracted over one million views while vintage cars witnessed over 800k views per month in 2019.
Data on OLX also confirms that demand for both vintage cars and bikes is coming from pretty much the same cities. Chennai, Bengaluru, Delhi, Mumbai, Pune, Thiruvananthapuram, Coimbatore, Kochi house enthusiasts for both bikes and cars.
For vintage bikes, there is a high demand from Hyderabad and Kochi as well. For vintage cars, Ooty and Jaipur are also attractive markets additionally.
Despite the slowdown in the automobile market, vintage cars continue to surge in popularity amidst growing interest from enthusiasts seeking to preserve these gems from the past.
Vintage automobiles are a prized possession not only amongst collectors but are increasingly seen as a lucrative alternative asset class by high net worth individuals due to the fact that unlike new automobiles which depreciate year on year, vintage automobiles like art is an appreciating asset.
Traditionally, collecting vintage cars was a niche hobby but the rise of online marketplaces has breathed a new lease of life for these marvels from the past.
"The vintage automobile market is rapidly growing in popularity owing to the rarity of the market of so few cars and bikes in supply. Vintage car/bike rallies, nostalgia and the resurgence of vintage automobiles as a venerable asset class have led to collectors thronging to OLX in search of their next prized possession," said Sunny Kataria, Vice President Auto, OLX Group.
"Vintage car/bike ownership is still nascent but owing to increased discoverability, a steady stream of unique inventory on OLX and high liquidity, the demand for vintage cars/bikes is expected to double in 2020. Increasingly these automobiles have also been recognised as an indispensable part of India's rich automobile history and cultural legacy stemming from India's past as an erstwhile collection of princely states," said Sunny Kataria, Vice President Auto, OLX Group," added Kataria.
OLX also shared data around the most unique vintage cars and bikes listed on the platform.
Some of the rarest of rare vintage cars and bikes listed on the platform are -Vintage Cars 1959 model of Standard Vanguard manufactured by the Standard Motor Company which ceased production in 1963. Ad Link: www.olx.in/item/1316448585 A 1940's vintage Dodge Weapon Carrier built and used by the American Military during World War 2. The model ceased production in 1945. Ad Link: www.olx.in/item/1307196095 1948 Hillman Minx Drophead Coupe Convertible Vintage / Classic Car: www.olx.in/item/1520894831 A 1948 last production unit Austin 8. Only about 56000 such units were ever made. Ad Link: www.olx.in/item/1505188467Vintage bikes A 1953 BSA two-stroke unit Bantam which ceased production in 1971. Ad Link: www.olx.in/item/1316056417 1938 model BSA C-10 Vintage British motorcycle in stock condition: Ad Link: www.olx.in/item/1551251299 A 1949 edition of Lambretta 48: Ad link: www.olx.in/item/1505729999OLX also shared data for the oldest and most expensive vintage car and bike listed on the platform. Vintage British Velocette 1932 is the oldest bike while the most expensive is Villers Antique bike 1939, for Rs 18 Lakh.
Among vintage cars, the Vintage Russian jeep 1930 is the oldest, and the 1935 Rolls-Royce 20/25 Fiol Sedanca Deville is the most expensive car listed at Rs 2 Crore.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/ NewsVoir)Get a daily dose of Austin Globe news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Austin Globe.
More InformationCINCINNATI, Ohio: Facing global economic headwinds and mounting tariff pressures, Procter & Gamble announced plans this week to cut...
AMSTERDAM, Netherlands: Tesla saw a sharp decline in sales across several major European markets in May, marking its fifth consecutive...
BERLIN/FRANKFURT: Some car parts factories in Europe have stopped production, and companies like Mercedes-Benz are making backup plans...
CHICAGO, Illinois: McDonald's is bringing back its much-loved Snack Wrap in the U.S. starting July 10. The wrap, which includes chicken,...
GOODLETTSVILLE, Tennessee: Dollar General reported record sales of US$10.44 billion for the latest quarter and raised its full-year...
SOUTH BURLINGTON, Vermont: Beta Technologies has become the first U.S. company to land an all-electric aircraft at an airport in the...
Washington DC [US], June 9 (ANI): Academy Award winner Al Pacino recalled turning down the 'Star Wars' role and shared why he was reluctant...
(Photo credit: Lon Horwedel-Imagn Images) Denny Hamlin worked his way by William Byron with four laps to go and had enough gas to...
Tens of thousands of anti-drone missiles were promised to Ukraine by the Biden administration, Vladimir Zelensky has said US President...
Gurugram (Haryana) [India], June 7 (ANI): As Prime Minister Narendra Modi is set to attend the G7 summit to be held later this month...
By Ravi Khandelwal Vancouver [Canada], June 6 (ANI): Canada needs to have a better relationship with India and move forward positively...
New Delhi [India] June 6 (ANI): Mumbai Dreamers player Aakash Balmiki believes that the inaugural edition of the Rugby Premier League...