The recession is officially here. That means auction prices are teetering on the edge of the cliff. People with A-list sports and exotic cars – vehicles that soared to new price heights in the post-pandemic pandemonium – are the most vulnerable. Are we there yet? Monterey Car Week will tell the tale. Meanwhile, cars that are the toughest sells today – B-list automobiles – are doomed. That said, if you’re in the the market now, there are “recession proof” cars out there: reasonably priced cars that have the best chance of holding their value and recovering quickly. Here are my top ten choices, some of which have been featured on this site.
- Ferrari 355 Spider F1 – $85k for a mint example
- Ferrari Testarossa – $135k for a reasonable car
- Ferrari 512 TR – $400k
- Ferrari 512BBi – $250-$275 for a clean, low-mileage car
- 1987 Porsche Slantnose Cabriolet Turbo – $150k – $200k for a reliable car with miles
- DeTomaso Pantera – $95k for a nice car in a private sale
- 1972 Corvette T-Top – $28,500 for a loaded car with good miles
- 1991 Fox Body Mustang Convertible – $25k
- 2001 – 2004 Corvette C5 Z06 – $31k
- 2002 Dodge Viper – $71k
We shall see who wins – inflation or recession. Right now the demand is insatiable with little available. As times get tough, more supply will be available – both from people selling cars and from people cancelling orders on new cars. Can the demand remain high enough to soak up any additional supply? I think that we are going to see some softness, especially on the bottom end of the market.
https://www.wsj.com/articles/oracle-lays-off-hundreds-of-employees-11659727874
It’s happening