HERO underlines industry’s value
The historic and classic motor industry provides as much to the UK economy as the arts sector, says research commissioned by historic rally organiser HERO-ERA that found the sector turns over £18bn and employs 113,000 people.
Conducted by Cebr, the findings are separate to those released by the FBHVC (C&SC, January) but acknowledge the Federation’s survey, adding that there are an estimated 1.47m additional cars that the DVLA considers to be ‘classic’. That means more than 3m classics on the road, worth £12.6bn.
Cebr’s turnover figure integrates supply systems and associated areas, and admits that this measure allows for some double counting. But the £8.7bn gross contributed to the economy according to Cebr is still £1.5bn more than the figure in the FBHVC’S report.
The skills within the industry also come at a premium, with its craftspeople earning up to 70% more than the average wage, and apprenticeship schemes are expected to grow exponentially, it predicts. The economic benefits are spread nationwide, too.
The sector is robust, according to Cebr, but not immune to challenges and the report disputes the misconception of a classic’s environmental effect. Its impact is far lower than widely assumed, once the limited usage and inclination to repair rather than discard is accounted for.
The report calls for unity to plot the classic car’s path to the future. The document concludes that: ‘It is important industry leaders work with regulators to ensure that the current enthusiasm is not burnt out by fear that the use of these vehicles will be banned or so circumscribed by regulations that potential owners think of them as unusable.’