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.
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