A collapsible bicycle rack to be transported at the rear of a motor vehicle for carrying bicycles that are suspended vertically and upside down relative to one another. The bicycle rack includes a vertical main support bar. An upper front wheel support basket is pivotally coupled to the main support bar to receive and retain the front wheels of the bicycles. A lower rear wheel support arm is pivotally coupled to the main support bar below the upper front wheel support basket to receive the rear wheels of the bicycles. The upper front wheel support basket and the lower rear wheel support arm are simultaneously rotated from an expanded deployed configuration extending outwardly from the vertical main support bar to a compact folded configuration lying generally side-by-side the vertical main support bar.