Old transport making an elegant comeback (5)
I believe the answer is:
trams
'old transport' is the definition.
'trams' can be an answer for 'transport' (trams are a type of public transport). I'm not certain of the 'old' bit.
'an elegant comeback' is the wordplay.
'an elegant' becomes 'smart' (I've seen this in another clue).
'comeback' says the letters should be written backwards.
'smart' reversed gives 'TRAMS'.
'making' is the link.
Can you help me to learn more?
(Other definitions for trams that I've seen before include "public transport" , "People movers" , "old vehicles" , "Not seen in London" , "silk yarns" .)