Classic Sports Car

Industry set to grow, says FBHVC

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The Federation of British Historic Vehicle Clubs expects the number of classic owners to increase by up to 200,000 by 2025, according to the latest report from its 2020-’21 National Historic Vehicle Survey. The FBHVC predicts that 860,000 Brits will own a classic, up from 683,987 in this current report.

It adds that one in four also own a ‘Youngtimer’ classic, from the 1990s and early 2000s, suggesting the number of cars that qualify for historic vehicle status will increase. Half of all the historic vehicles on the road are worth less than £10k.

A recent poll conducted by the FBHVC has also found strong favour for the sector from the general public, with 4.7m thought to be interested in owning a classic and more than 10m believing young people should be encouraged to take an interest. As many as 18.7m in the UK, equating to a quarter of the population, believe historic vehicles are an important part of our heritage and should also be kept in their original condition.

The survey found that the ages of owners correlate with the ages of their vehicles, with older owners more likely to own much older cars. The Federation says that: ‘Raises concern when trying to identify who the future owners of older vehicles will be.’ The average age of a classic car owner has increased from 61 to 63 since the most recent analysis in 2018.

Previous results released have revealed a buoyant industry, with 1.5m vehicles comprising 0.2% of the miles driven on UK roads, and worth £7.2bn to the economy.

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