These 6 Japanese Classics Got More Expensive This Summer
It wasn’t until relatively recently that Japanese cars became a huge part of the classic car market. With many of them built in the 1980s or 1990s, they were more “used” than “classic” or “collectible.” Those days are mostly behind us, though, as Japanese cars and trucks are definitely part of the conversation now. We even have a Japanese Vehicles Index to keep track of this increasingly important segment of the market.
While prices for some Japanese classics have plateaued or softened in recent months, others continue to appreciate. Below are the six that grew the most with the latest release of the Hagerty Price Guide this summer.
1990–95 Toyota MR2
Average increase in #2 value: 18 percent
Toyota introduced the Midship Runabout 2-seater aka the Mister-Two aka the MR2 for 1985. Agile and affordable, the first-generation car was the only entry-level mid-engine sports car from a mainstream manufacturer, and its wedge (some might say doorstop) styling left it looking like a miniature European exotic, while an available supercharged model for 1988–89 packed a serious punch. Toyota built the MR2 for three generations, and in this family it’s the middle child that’s the best-looking and most athletic. It’s also by far the most valuable.
The Mk II MR2 arrived for 1991, trading ’80s creases for ’90s smoothness and sexy scoops ahead of the rear wheels. Base cars got a 130-hp 2.2-liter four shared with the Celica and Camry, while Turbo models got a 2.0-liter twin-cam that was turbocharged for an even 200 hp and 200 lb-ft. Plenty of Mk II MR2s have been modified, crashed, or driven to death over the past 30 years, but the car’s dual personas—exotic looks and layout coupled with Toyota parts and reliability—still resonate. Clean MR2s gradually have been getting pricier since 2020, and some massive sales earlier this year have pushed them further. Condition #2 values range from $23,800 for an early base car to $36,900 for an early Turbo, while the later 1993–95 Turbos with suspension improvements and available limited-slip can stretch to 50 grand or more.
1989–91 Honda Civic Si
Average increase in #2 value: 19 percent
The Si (“Sport injected”) version of the Honda Civic is a sport compact staple that goes all the way back to 1984. The second-generation Si arrived in the U.S. for 1989 and carried the Honda hot hatch torch through 1991. A capable and fun little car, it has mostly lived in the shadow of its similarly capable and even more fun cousin—the CRX Si. They’re mechanically similar, though, and have the same 108-hp D16A6 SOHC four-cylinder and five-speed manual. The Civic is a little heftier but still weighs less than 2300 pounds. Think of it as a CRX with back seats and a little extra cargo space, because that’s basically what it is.
Prices for clean CRXs (of which there aren’t many left) started increasing significantly in the late 2010s. The Civics lagged behind a couple of years and are still growing, but they just saw their largest increase ever. Owners were even less likely to pamper their 1989–91 Civic Si than the equivalent CRX, but a clean #2 condition car is worth $21K at the moment, with condition #3 cars coming in at a little over $15K.
1964–66 Honda S600
Average increase in #2 value: 20 percent
A little further back in the Honda catalog is one of the company’s very first four-wheeled vehicles—the S600. Its size, performance numbers, and styling are reminiscent of contemporary Triumph Spitfires/MG Midgets/Austin-Healey Sprites, but it is much more unconventional and advanced in its design. Its 57-hp aluminum overhead-cam engine and five-speed, for example, drive the rear wheels via chain, and the S600 can rev all the way up to 9500 rpm, faster even than its beloved spiritual successor, the S2000.
Honda didn’t officially import the S600 here, but enough have been imported on an individual basis that there are a decent number of them on our shores. Prices have been rising since the late 2010s but, as with the later Civic, S600s just had their largest increase in value ever. The current #2 value for a convertible is currently at $79,200, and for a coupe it’s $58,300. That comes out to roughly $131 per cc of displacement, or $1389 per horsepower.
1991–98 Suzuki Cappuccino
Average increase in #2 value: 10 percent
Similarly tiny, similarly Japanese, and similarly not imported here, the Suzuki Cappuccino is small on size but big on fun and charm, and not as slow as the spec sheet might suggest. The Cappuccino, along with the rival Honda Beat and Autozam (Mazda) AZ-1, were built for Japan’s low-tax keijidosha minicar segment. But, coming out of an ambitious time in Japanese car design, these weren’t commuter cars or urban utility vans but sports cars. Because of the kei segment’s restrictions on size and displacement, the Cappuccino is more than a foot narrower and more than two feet shorter than a contemporary Miata. Its twin-cam, 12-valve turbocharged and port-injected triple makes 63 hp and can return about 40 mpg. Prices for these little coffee machines started gaining steam over the past two years, and are up about $3K so far this year. Condition #2 values are currently $17,300 for a base car and $19,000 for the Limited trim.
1991–96 Subaru SVX
Average increase in #2 value: 5 percent
Sold in Japan as the Alcyone SVX but everywhere else as simply “SVX,” this Giugiaro-penned oddball replaced the Subaru XT but was more powerful, more luxurious, and more expensive. Probably its most famous feature is the aircraft-inspired split side windows, in which only the bottom half rolls down. The four-seat coupe has a 3.3-liter flat-six and all-wheel drive. MSRP was in the mid- to high-$20K range, at the time making it the most expensive Subaru ever. That said, it wasn’t competitive with similar Japanese sport coupes like the Mitsubishi 3000GT or Nissan 300ZX, and it was automatic-only. About 14,000 came to North America.
Over the last two years, though, SVX prices have surged. Their median #2 value is currently $16,800, which is essentially more than double compared to five years ago.
1990–97 Toyota Land Cruiser FJ80
Average increase in #2 value: 12 percent
By the time the FJ80 came out at the dawn of the 1990s, the Toyota Land Cruiser already had decades of tackling rough terrain under its belt and a well-deserved reputation as one of the most capable vehicles on the planet. This generation, however, took the Land Cruiser in a slightly different, more luxurious direction. The FJ80 had air conditioning, better soundproofing, leather seats, and more refined fit and finish without losing the utility of previous Land Cruisers. Toyota addressed initial grumbles about the sluggish 155-hp 4.0-liter six in 1993 with a new 4.5-liter unit. The FJ80 was also the last Land Cruiser with an inline-six and solid front axle.
Compared to earlier FJ40 and FJ60 Land Cruisers, FJ80s haven’t seen huge upswings in value. But they have appreciated, and condition #2 values currently sit at $32,800 for a 1991–92 4.0-liter model and $44,400 for the later 4.5-liter model.
S600 is the only one I see as a real collectable car. The MR2 has some interest but there are so few left in good condition and they are not easy or cheap to restore.
It’s understandable that you would feel this way. You’re not alone by far. But the term “collectible car” is subjective and as such what defines a “collectible car” changes with as time goes on. MR2s are starting to have a lot of re-production parts come around so restoration of these cars is getting easier and cheaper.
Don’t know if I completely agree with the author of this article. I have a MK 1 Supercharged MR2 in mint condition and values have risen pretty high, in my area anyway. I’ve been offered 30k on more than one occasion for her. It’s a pretty rare car seeing as the supercharged version was only offered for 2 years here in North America(Canada).
What are you, crazy? It’s a Toyota. Parts are common as dirt. Maybe the body parts are hard to find. The mechanical stuff was used in the corollas and other models.
Great article! It’s about time cars like these are recognized as classics. Yet Ive noticed a lot of people (in FB groups, forums, etc) seem to disagree with, or straight up dislike, the fact that these cars are becoming sought after. You have to laugh at such nonsense. Weather you like it or not, the term “classic car” or “collectible car” is subjective depending on the person. If someone views an old MR2, Civic, or Subaru as a classic or collectible car, so be it. And yes, that means the values can be driven upwards too. The haters can cry about it all they want but there’s nothing they can do except complain. You should of bought one when they were cheap.
I always liked the Subaru SVX but This is one I always kept an eye on. I don’t think the cars have that value as stated. People familiar with the car know of it’s fatal design flaw. The 4-EATS transmission failures. The Automatic Transmission (the only available transmission) was to weak to handle the weight and power of the boxer engine. Transmission failure is practically 100% before 80’000 miles and they’re really were no fixes. I checked three car websites, the most expensive car was $12,000. All the others were $2800 t0 $9000. I wouldn’t touch them. Disappointing because I would have liked one.
The failure points of the svx are widely known – trans and brakes – but Small car performance in Tacoma is putting five-speed manuals in them and apparently they’re rippers.
The standout feature is the engine. 230 hp, 10:1 compression, non-interference boxer. I put one in my Volkswagen Vanagon Syncro camper and it’s now adequately powered with virtually the same mpg as the original 95 hp engine.
Its funny because Subaru today is one of the few manufacturers that still offer a manual transmission in a wide array of models, and back then virtually every model was available with a manual transmission – except the SVX. Subaru really dropped the ball on that.
Personally, I’m partial to the flip-up era of Honda, from the mid to late 80s, a time when they really cemented their place in the automotive market. Specifically, 2nd gen Preludes and 3rd gen Accords. Nobody paid below list price for Hondas of that era, they were in such demand. Long-forgotten, but now gaining some well-deserved respect with Radwood era fans.
Nice collection of Japanese classics on this list. But interestingly, I am yet to see the Mark II Celica Supra make any of these lists? The gains for that model have been astonishing in recent years!
The MR2 is such a hard car to find clean and unmodified. Lately the cleanest ones I have found have had the original engine replaced with a 3.5L Toyota V6. Sure the naturally aspirated power is nice but I still want a Turbo Mk 2 MR2 if I were to have one.
NSX’s. Many hitting 6 figures on BaT.
Cannot say well enough, how much I enjoy reading your well informed comments on not only collecter cars, but those to keep an eye on for future collection…That said what are your thoughts on the early 2000 Toyota v8 Tundra limited. Good to hang on to?
Maybe there should be some generally agreed upon criteria of what differentiates a collectable from a classic from an antique. Innovation in design, in engineering, in overall impact etc. There are many cars , for instance, that are collectable but not ground breaking in many respects while there are others that have been forgotten but set the stage for their successors. Thoughts?
How about the 2 wheel drive trucks , 1988-1994 ? They are great, tough, and look nice.
Surprised that the much loved 90’s Lexus SC300/400 are not on your list. Gorgeous looking, built like tanks (“million mile motor”), and reliable as hell. And yes the SC300 is essentially a Supra (2JZ) under the skin minus the turbo. A manual trans was optional in the 300 but are harder to find that haven’t been trashed by a Fast and Furious wannabe. These were innovative cars for that time and widely admired for their design.
I cannot for the life of me figure out why you never mention the Toyota Celica GTS/ convertible. It has a great story to tell of its evolution and yet it’s not even on your Evaluation website. It stops people all the time asking us “what is this?” It’s quite rare, has a great engine and is loaded. It’s super fun on the back roads and can still motor along well on the highways with its over drive. All this and it gets awesome gas mileage.
The Subaru SVX has “aircraft-inspired split windows”? As a pilot and aircraft builder, I am curious as to what aircraft has the lower half of its windows roll down.
For me it is the S600 Coupe. These were imported here in Canada and I fell in love with them. Missed out on getting one for my first car as the well used one I wanted to buy had too many mechanical problems so I ended up with a bugeye sprite instead. You very seldom see them up for sale and if they are they are either basket cases or priced high.
How about the Civic SI 1999/2000 EM1 and any generation of the Mitsubishi EVO?