CLASSIC CAR OWNERSHIP IS BOOMING!

FBHVC survey reveals there are more than half a million historic cars in the UK – an increase of 87,500 in the past five years

The latest research into the classic industry in the UK by the Federation of British Historic Vehicles Clubs (FBHVC) shows that there are 512,499 historic cars (30+ years old) in the UK, up from 425,000 in 2011.

The classic car movement is now generating annual revenues of £5.5 billion, an increase of 27.9% since the last survey, five years ago.

The report reveals that the industry is employing 28% more people than in 2011, growing from 28,000 to 34,900. In the breakdown of this, it uncovers the nation’s marque loyalty. Twelve per cent of the cars are MGs, 10% are Fords, and 8% are Triumphs. Land Rover, Austin and Morris each have an 8% share of the market, and Volkswagen has 6%.

More than eight million people in Britain are interested in historic vehicles – according to the latest survey published by the Federation of British Historic Vehicle Clubs (FBHVC) at its AGM on 15 October.

Its latest research shows the movement is now generating annual revenues of £5.5 billion, a whopping increase of 27.9% since the last survey, five years ago.

It also shows that the industry is employing 28% more people than in 2011, growing from 28,000 to 34,900.

Away from the nitty gritty of businesses the survey reveals that there are 512,499 registered pre1985 cars in the UK (of more than a million of all historic vehicles).

And of these, 12% of the cars are MGs, 10% are Fords, and 8% are Triumphs. Land Rover, Austin and Morris also share 8% of the market, while Volkswagen has 6%. Jaguar has 4%, and Rover has 2%.

However, it’s not all good news. The survey indicates a number of different challenges for historic vehicle clubs – the most pressing is the rising age of its membership.

The FBHVC reports clubs are having problems reaching out to younger people – although it is hesitant to suggest any advice other than that ‘technology and the use of the internet’ as a way to entice different generations.

David Whale, chairman of the FBHVC says: ‘The survey clearly demonstrates the whole historic vehicle movement is evolving and is in extremely good health.

‘The exciting and very empowering news is that we have not just the annual revenues associated with the movement but we now understand far better than ever before the key components: heritage, employment, clubs and enthusiasts, trade and museums.’