Think all EVs depreciate heavily? Think again, as UK company Lunaz Design, a specialist in the restoration and electrification of classic cars backed by David Beckham, has reported that pre-owned examples of its restomodded classics are selling at a premium of around 22 percent above their original cost.
This appreciating secondary market comes on the back of a record period of export demand and rising order values for its vehicles, saying that its "commitment to crafting the world’s most desirable, electrified, and elevated classics has been affirmed."
The company says that orders destined for international markets - including the US, UAE, Saudi Arabia, Belgium, France, Monaco, and India - have increased by whopping 150 percent year-on-year, while only 35 percent of the order book - that now stretches into 2026 - will remain in its home market, the United Kingdom.
On the back of this, the company says that as global demand for both its electrified classics continues to grow, so too has the value of individual builds, and that its customers are "investing significantly", not only in the restoration and electrification of highly sought-after and rare cars, but also in "intricate materials, finishes, engineering innovations, and technological enhancements."
This has seen an increase in the average transaction value of 18 percent, while second hand examples of the company's work have also seen an increase, with existing Lunaz cars offered to customers on the waiting list being sold at a premium, appreciating by an average of 22 percent.
“Lunaz was created to write the next chapters in the incredible stories of the most celebrated cars in British automotive history," said David Lorenz, founder and CEO of Lunaz.
"The growth of our export business, along with the appreciating value of Lunaz cars offered to the secondary market, demonstrates a global appreciation for the Lunaz proposition: to marry cutting-edge technology and exceptional driving dynamics with the style of an era when beauty was the only requirement."
The company says the growth has largely come from customers new to the classic scene who "appreciate the beauty and iconography of the cars but has always been deterred by the driving and ownership experience" and represent a new generation of first-time classic owners who will "play a critical role" in the preservation of high-end British classics (including some incredibly rare ones) from marques like Rolls-Royce, Bentley, Range Rover, Jaguar and Aston Martin.
Established in 2018, Lunaz creates what it calls its "restored, elevated, and electrified" classics by starting with an "exhaustive bare-metal restoration and re-engineering process, delivering a concours-level vehicle that meets modern expectations for usability, reliability, and sustainability."
The initial restoration takes more than 5500 hours, while brakes, suspension, steering and interior comfort are all brought up to modern standards, with the later including air conditioning, "discreetly integrated" infotainment, navigation systems and full Wi-Fi connectivity.
Lunaz uses a proprietary modular electric powertrain in all its vehicles that is developed entirely in-house and uses European-sourced Tier 1 OEM battery cells and motors. Current models feature battery capacities up to 80kWh, providing a range of up to 320km, with CCS fast-charging capability as standard.
Lorenz says that the company's current success lays the foundation for its future growth, allowing it to continue developing restoration, engineering and design talent at its headquarters in Silverstone, England, where every vehicle is designed and built.
"Indeed, these results are a testament to the breadth of capability within our team here in Silverstone, as they elevate these cars to a peerless standard for a growing and vibrant global customer base," he said.
The healthy growth will be a particular boost for the Lunaz Group, following a wobble early last year when Lunaz Applied Technologies (LAT), a separate company that designed and converted commercial vehicles to electric power, went into administration in March.
The commercial vehicle operation planned to begin production of an "upcycled" electric rubbish truck conversion that it had grand plans to build at the rate of 1100 of per year, supplying councils around the UK.
However, it failed to secure funding to begin production and was placed into administration, which halted operations at Lunaz Design while the Lunaz Group was restructured, with production of the electrified classics recommencing in May of that year.
