The Classic Car Industry must evolve to survive
The classic car industry must evolve to a changing market, demographic and technologies to survive.
Tim Griffin, Managing Director of Classic Insight Ltd, based in Hughley, Shropshire, said: “The Historic & Classic Vehicles Alliance (HCVA) Heritage Matters Trade Insights Day (22nd April) had a panel discussing business diversification and resilience. As someone who has been in the industry for over 30 years, this is a vitally important topic – the industry must evolve to survive.”
He added: “It isn’t just the cars customers want that are changing, as more people seek out 70’s, 80s and 90s vehicles, but also what people expect from their classic. Customers now want a lifestyle; the days of the typical classic owner in a flat cap messing under the bonnet fixing a running issue by the side of the road are gone. Customers want real world usability and reliability, with many opting for modern conveniences in their classics”
Tim said: “Much of this change is driven by a younger generation of owner. For them, the cars of the 70’s, 80s and 90s are their youth, the cars they aspired to. The next generation of classic owners must also be reached out to, on the platforms they use such as social media, and must not feel dismissed or looked down on by older generations.”
He added: “They must be given pathways into the skills they need to join the engineering part of the classic car world, something the HCVA is doing a fantastic job of, supporting through their work with the Heritage Skills academy.”
Julian Barratt, Chief Commercial Officer at SNG Barratt, Rimmer Bros and Moss Motors said: “The opportunities to diversify within the Classic sector are huge. From the parts side, we have been able to take advantage of a raft of modern technologies - such as 3D printing - to bring ranges of products to market that would not have previously been possible.”
He added: “Similarly, looking at geographical opportunities are also key and, while there may be challenges from Brexit and US tariffs - the UK has a world leading range of businesses in the classic space and we must continue to find ways to sell these to the world.”
Dale Keller, CEO of the Historic & Classic Vehicles Alliance, said: “It is clear from our members and discussions at the HCVA Heritage Matters trade insight day that diversification is becoming essential to business resilience and long-term success in the historic and classic vehicles sector.”
He added: “From geopolitical pressures to a changing vehicle mix, evolving customer demographics and rising ownership expectations, the pace of change in what was once seen as a traditional industry is accelerating. Many HCVA members are already responding successfully - expanding into 1980s and newer collectible vehicles, and developing expertise in advanced manufacturing, materials, and reliability and performance enhancing modifications that meet the demands of today’s enthusiasts. Strong links with the motorsport industry are also introducing new technologies and ways of thinking.”
Dale said: “This creates an opportunity for the sector not only to preserve automotive heritage, but to reimagine how it is engaging with the next generation of owners, enthusiasts and skilled workers in new and exciting ways.”
Ends
For more information, please contact:
Tim Griffin
E: tim@classic-insight.co.uk T: +44(0)7846 131602
Or
Julian Barratt
W: www.sngbarratt.com T: +44 1746 760299
Or
Dale Keller
E: dale@hcva.co.uk T: 07740 174 815
Or
Ella Griffin
E: ella@prismaticpr.co.uk T: +44(0)7447 098909