The market for heritage vehicles in the UK is growing across nearly every segment. At the end of 2023, nearly 340,000 vehicles over 40 years old were registered in the UK, of which around one in eight have been declared off the road by their owners.
In 2020, around 1.5 million cars on UK roads were over 30 years old, Tim noted, representing one in 22 cars. By 2025, that figure is forecast to reach 2 million, outpacing the forecast number of 1.3 million electric and hybrid vehicles by some distance. The number of classic car owners is also increasing, Tim continued, from around 500,000 in 2016 to more than 700,000 today, with many thousands more expressing a desire to be involved with heritage vehicles. The value of the classic car market to the UK economy has similarly risen from £5.5bn in 2016 to £7.2bn. On the subject of EVs, Tim said the place for classic cars in today’s sustainability-focused world was only getting stronger. “It's significantly less carbon-intensive to continue using existing vehicles than manufacture new ones,” he noted. “A typical classic car emits substantially less CO² per annum than your mobile phone or laptop.” The average classic vehicle in the UK emits 563kg of CO² and is driven an average of 1,200 per year, according to a study by UK insurer Footman James. While modern vehicles have significantly less CO² emissions per mile, they are driven far more regularly and already come with a sizeable carbon footprint straight off the production line.
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AuthorBob DeShane is a life-long British Car nutcase, restorer, racer, driver, talker, business owner, and Nigel Shiftright fan. His whole life is directed to enjoying the cars and people connected with the British Car scene. ArchivesCategories |