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Sport Utility Vehicles (SUVs) have ascended to the top of the automotive market, now representing the most favoured vehicle type among new car buyers. Recent analysis indicates that SUVs constituted a third of all new passenger car registrations in the past year, surpassing superminis to become the most prevalent segment for the first time. This surge in popularity marks a significant shift from just 25 years ago when SUVs were a nascent concept yet to capture the attention of UK motorists. As these early models enter classic car territory, experts suggest certain early SUVs from the 1990s and 2000s may soon become highly collectible.
The Rise of the SUV
While the United States readily adopted the ‘sport utility vehicle’ early on, British car enthusiasts initially favoured traditional family hatchbacks, prestigious executive saloons, and spacious estate cars. This left limited space for the then-novel SUV category. In the 1990s, drivers seeking high-riding vehicles with enhanced visibility were primarily limited to conventional 4X4s like the Range Rover and Toyota Land Cruiser. However, around the turn of the millennium, a new generation of SUVs began to emerge.
Now, a quarter of a century later, SUVs dominate UK showrooms and are the prevalent choice for family transportation. Automotive experts believe that these pioneering SUVs could transition into collectable classic cars. Hagerty, a specialist in classic car insurance, has pinpointed four segment-defining SUVs from the 2000s that they anticipate possessing the qualities of modern classics – potentially leading to a future surge in their market value.
Currently, these models are available at relatively low prices, presenting an affordable opportunity for prospective collectors. However, it is important to note that running costs may be substantial due to their fuel-consuming engines and potential for costly repairs.
John Mayhead, Hagerty UK Price Guide editor, notes, ‘These four models offer road presence, a distinct appeal, and practical advantages, including, for vehicles registered before March 2001, a fixed rate of road tax. They are also generally smaller and less imposing than contemporary SUVs, with a broader selection of engine options.’
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He further adds, ‘While all exhibit strong on-road performance, some are particularly adept in off-road environments as well.’
1. BMW X5 (E53, 1999-2006)
Current Average Price: £1,500 – £10,000
The BMW X5 is widely considered the vehicle that initiated the premium SUV market. Upon its debut in 1999, the original X5 was largely unique on the roads. While its dimensions mirrored those of a Range Rover, it was explicitly designed for on-road use, diverging from traditional off-road expectations for the segment.
Nonetheless, the X5 achieved remarkable sales figures among premium car buyers seeking enhanced cabin space—particularly increased headroom—a larger boot, and an elevated driving position compared to BMW’s 3 Series saloons and Touring models, without sacrificing premium brand perception. It boasted robust build quality and offered a diverse range of engines, from economical six-cylinder petrol and diesel options to high-performance V8 variants.
Its distinctive design originated from Frank Stephenson, renowned for his work on iconic vehicles such as the Ford Escort Cosworth, BMW Mini, Ferrari F430, and McLaren P1. Beyond its appearance, the X5 delivered a driving experience unmatched by other vehicles of its size, rivaling even BMW’s established models.
Regarding its potential as a modern classic, John Mayhead comments, ‘Frank Stephenson’s design has aged gracefully and still appears striking, even somewhat streamlined compared to current models. V8 engine versions are the most collectable, though higher mileage examples remain budget-friendly.’
2. Land Rover Freelander (1997-2006)
Current Average Price: £700 – £2,000
Recognizing the growing demand for compact off-road vehicles like the Suzuki Vitara and Toyota RAV4, Land Rover introduced its own compact SUV, the Freelander, in 1997. Positioned below the Defender, Discovery, and Range Rover in the brand’s lineup, the Freelander served as an entry point into Land Rover ownership.
Launched at a price of £17,995, equivalent to approximately £34,771 today, the Freelander was available in three-door and five-door configurations, including a ‘Softback’ variant with a fabric roof section over the rear seats. The Freelander quickly became Europe’s top-selling SUV, its three and five-door options, distinctive styling, and prestigious badge significantly contributing to its market success.
While offering greater off-road capability than certain rivals, the Freelander’s reliability record was less impressive. Common issues included weaknesses with the automatic gearbox and the central viscous coupling in the four-wheel-drive system. Prospective buyers should scrutinize vehicle history for evidence of prior issues.
Despite these concerns, even well-maintained Freelanders are currently very affordable, rarely exceeding £2,000 in price for a good example. ‘As the most accessible of these four SUVs, even exceptionally preserved vehicles with careful maintenance can be acquired for a modest sum,’ John Mayhead explains. ‘It remains a genuine, versatile 4×4 suitable for both urban and rural environments.’
3. Jeep Cherokee XJ (1993-2001)
Current Average Price: £4,000 – £10,000
Given the SUV’s American origins, it’s fitting to include an early US model, also marketed in the UK, in this collectable SUV list. While Jeep had produced family off-road station wagons as early as 1946, the 1963 Wagoneer established Jeep’s distinctive SUV approach. This was further refined with the Cherokee XJ two decades later.
Though compact by US standards, the Cherokee XJ was generously sized for British families, who were then less familiar with sport utility vehicles. While primarily intended for on-road driving, it retained Jeep’s renowned off-road prowess, solidifying its ‘go-anywhere’ reputation.
The Cherokee XJ achieved global popularity and became a frequent sight in 1990s television and films. ‘Relatively uncommon in the UK, the Cherokee XJ has cultivated a dedicated following that appreciates its qualities, which has sustained pricing at a higher level,’ notes John Mayhead.
‘The 4.0 V6 engine is the preferred choice, offering strong performance and smooth operation, although concerns over fuel economy may lead buyers to consider the 2.5 4-cylinder model. Diesel versions are scarce.’
4. Porsche Cayenne (2003-2010)
Current Average Price: £2,500 to £9,500
Finally, the Porsche Cayenne, specifically the first-generation model, merits inclusion as arguably the vehicle that instigated the most significant transformation in the SUV sector. For its first 72 years, Porsche was exclusively a sports car manufacturer. The launch of its inaugural SUV was met with considerable surprise. However, similar to the Boxster, Porsche required the Cayenne to broaden its product range, attract new customers, and secure its financial future.
The Cayenne emerged as the first genuinely performance-oriented SUV that was both engaging to drive and practical for family use, offering ample space for passengers and luggage. While even the base Cayenne was a capable vehicle, the twin-turbocharged V8 S variant delivered exceptional performance, achieving 0-60mph in approximately five seconds and reaching a top speed of 167mph—performance figures previously unheard of in a large 4×4.
The Cayenne was a sales success, with over 275,000 first-generation units sold. This effectively spearheaded Porsche’s evolution into a mainstream automotive brand. ‘As with any Porsche, vehicle specification significantly influences value. Certain fully-equipped Cayennes remain highly luxurious even when compared to contemporary vehicles,’ John Mayhead explained.
‘The V8 engine provides substantial power. All Cayennes handle exceptionally well for their size, as expected from the Porsche marque.’