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Share Name | Share Symbol | Market | Type |
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Hagerty Inc | NYSE:HGTY | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.23 | 2.38% | 9.88 | 9.9299 | 9.75 | 9.75 | 85,282 | 00:38:07 |
Analysis Reveals Upward Trend for Vehicles from post-1980s vehicles
TRAVERSE CITY, Mich., Dec. 9, 2024 /PRNewswire/ -- Hagerty, Inc., (NYSE: HGTY), an automotive enthusiast brand and leading specialty vehicle insurance provider, today announced its 2025 U.S. Bull Market list, the eighth annual selection of enthusiast vehicles the company expects to increase in value over the next year. Hagerty Automotive Intelligence analyzed data from public and private sales, along with historic trends and insurance valuations to narrow down the list to 11 special vehicles.
"It's a common misconception that fun cars have to be expensive," said Larry Webster, Hagerty Senior Vice President of Media and Editorial. "Our Bull Market list provides options for enthusiasts of all interests that will cost little to own. Yet it's not the cost, but the machines that get us excited. No one looks back at their bank account with fond memories - they look back at those weekend drives, family road trips and evenings in the garage."
"In naming this year's Bull Market list, we scoured through millions of data points from the past several years from a wide variety of sources," said Brian Rabold, Vice President of Automotive Intelligence. "It's clear that younger enthusiasts are increasingly entering the collector car market, and vehicles from their eras are appreciating. It's official, 1980s, 1990s and 2000s era cars are collectible."
Full 2025 Bull Market list details (including excellent, condition 2 value) are below with further details here and a YouTube review here.
A Rising Enthusiast Generation Emerges
In July, Hagerty released the "Future of Driving" survey which showed that nearly 60% of Gen Z respondents would like to own a collector car, compared to 31% of Baby Boomers. Several cars on the list have seen a rise in both insurance policies and quotes among Millennial and Gen Z enthusiasts. Not surprisingly, the average model year on this year's Bull Market list is 2001, while the average model years on the 2023 and 2024 lists were a decade older, at 1989 and 1991, respectively.
Hagerty Drivers Club Contribution
A new addition to Bull Market list this year was the Hagerty Drivers Club (HDC) member's choice entry. Since popularity is another way to express demand, we asked our HDC members to choose which one of three possibilities should be on the list. The top three choices were the Nissan Skyline, McLaren MP4-12C and the DeLorean. HDC members, which number over 865,000 and have a considerable voice in the auto enthusiast community, picked the DeLorean as this year's member choice.
About Hagerty (NYSE: HGTY)
Hagerty is an automotive enthusiast brand committed to saving driving and to fueling car culture for future generations. The company is a leading provider of specialty vehicle insurance, expert car valuation data and insights, live and digital car auction services, immersive events and automotive entertainment custom made for the 67 million Americans who self-describe as car enthusiasts. Hagerty also operates in Canada and the U.K. and is home to Hagerty Drivers Club, a community of over 865,000 who can't get enough of cars. For more information, please visit www.hagerty.com or connect with us on Facebook, Instagram, Twitter and LinkedIn.
Forward Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. These forward-looking statements reflect Hagerty's current expectations and projections with respect to its expected future business and financial performance, including, among other things: (i) expected operating results, such as revenue growth and increases in earned premium; (ii) changes in the market for Hagerty's products and services, (iii) Hagerty's plans to expand market share, including planned investments and partnerships; (iv) anticipated business objectives; and (v) the strength of Hagerty's business model. These statements may be preceded by, followed by or include the words "aim," "anticipate," "believe," "estimate," "expect," "forecast," "future," "goal," "intend," "likely," "outlook," "plan," "potential," "project," "seek," "target," "can," "could," "may," "should," "would," "will," the negatives thereof and other words and terms of similar meaning.
A number of factors could cause actual results or outcomes to differ materially from those indicated by these forward-looking statements. These factors include, among other things, Hagerty's ability to: (i) compete effectively within its industry and attract and retain members; (ii) maintain key strategic relationships with its insurance distribution and underwriting carrier partners; (iii) prevent, monitor and detect fraudulent activity; (iv) manage risks associated with disruptions, interruptions, outages with its technology platforms or third-party services; (v) accelerate the adoption of Hagerty's membership products as well as any new insurance programs and products; (vi) manage the cyclical nature of the insurance business including through any periods of recession, economic downturn or inflation; (vii) address unexpected increases in the frequency or severity of claims; (vii) comply with the numerous laws and regulations applicable to Hagerty's business, including state, federal and foreign laws relating to insurance and rate increases, privacy, the internet and accounting matters; (ix) manage risks associated with being a controlled company; and (x) other risks and uncertainties indicated from time to time in documents filed or to be filed with the Securities and Exchange Commission (the "SEC") by Hagerty.
The forward-looking statements herein represent the judgment of Hagerty as of the date of this release and Hagerty disclaims any intent or obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise. This press release should be read in conjunction with the information included in the Company's other press releases, reports and other filings with the SEC. Understanding the information contained in these filings is important in order to fully understand Hagerty's reported financial results and our business outlook for future periods.
Securities-Related Disclaimer
This release mentions instruments that may be securities, issuers that may be conducting offerings, and other matters that may bear on securities. We are not a securities broker-dealer, investment adviser, or financial planner, and we are not registered with the U.S. Securities and Exchange Commission or any state or foreign securities regulatory authority. The information we publish in this release is provided for information purposes only and is not intended for trading purposes. None of the information contained in or accessible through this release constitutes a solicitation, offer, opinion, or recommendation by us or any of our affiliates to buy or sell any security, or to provide legal, tax, accounting, or investment advice or services regarding the profitability or suitability of any security or investment. This release is intended only to provide information that is broad in scope and potentially of interest to our users. This release may rely on information gathered from third parties that we do not independently confirm, and it does not include all information that is relevant to any particular decision. You should obtain additional information and advice from your financial, tax or other advisers who are fully aware of your individual circumstances before you make any decisions involving securities.
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SOURCE Hagerty
Copyright 2024 PR Newswire
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