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September 3, 2024
Younger generations are leading the way in collector car enthusiasm, a recent survey has found.
The survey from Hagerty, titled Future of Driving 2024 found that Gen Z is fueling a growing interest in classic cars, trucks and motorcycles. It found that 60 per cent of Gen Z respondents expressed a desire to own a classic car, a significant jump compared to 31 per cent of Baby Boomers.
This enthusiasm among the younger generation signals a promising future for the collector car market, the company said.
“The next generation of car enthusiasts is here, creating a vibrant market for us to help enthusiasts protect, buy, sell and enjoy their special vehicles,” said McKeel Hagerty, CEO and chairman of Hagerty. “The data is clear that Gen Z isn’t just playing car video games, watching YouTube or creating social media content; they’re also finding ways to participate in the collector car community.”
The survey polled more than 2,000 Americans. It further found that driving passion persists despite the rise of digital entertainment and alternative transportation methods. More than three-quarters (77 per cent) of Gen Z respondents stated that they either loved or liked driving, suggesting that the joy of driving is very much alive among the younger generation.
They have a strong desire for classic vehicles. Gen Z and Millennials are nearly neck and neck when it comes to owning or wanting to own a classic vehicle, with 32 per cent and 30 per cent, respectively, reporting current or previous ownership.
And while SUVs dominate, luxury vehicles attract Gen Z: While SUVs remain the most popular vehicle type among respondents (38 per cent), Gen Z shows a notable affinity for luxury cars, with 23 per cent showing interest in owning one, just behind the 26 per cent who favor SUVs.
They also showed an emotional connection to driving: Half of the respondents who drive reported feeling a sense of freedom behind the wheel, with adventurous (28 per cent) and calm (24 per cent) being other top emotions associated with driving.
The survey also found that DIY repairs are popular among Millennials: While most car owners prefer taking their vehicles to dealerships or service centers for maintenance (55 per cent), 27 per cent reported performing DIY repairs. Millennials, in particular, are leading the charge in this area, with 34 per cent of them opting to handle repairs themselves.
Hagerty’s findings also suggested that younger car enthusiasts are diversifying their interests, focusing on a broad range of vehicles from the past four decades. This trend is driven in part by social media and the accessibility of online and in-person car events, which serve as critical entry points into the hobby.
According to the survey, 40 per cent of respondents said their first exposure to classic and enthusiast cars came from attending car shows, which Hagarty said highlights the importance of these events in fostering a new generation of collectors.
Platforms like YouTube (39 per cent) and Instagram (38 per cent) are playing significant roles in how Gen Z interacts with classic vehicles, often serving as their first point of contact with the hobby. Additionally, driving itself remains a key way for these young enthusiasts to engage with classic cars, with 35 per cent citing it as a primary method of interaction.
Gen Z showing interest in collector cars
Younger generations are leading the way in collector car enthusiasm, a recent survey has found.
The survey from Hagerty, titled Future of Driving 2024 found that Gen Z is fueling a growing interest in classic cars, trucks and motorcycles. It found that 60 per cent of Gen Z respondents expressed a desire to own a classic car, a significant jump compared to 31 per cent of Baby Boomers.
This enthusiasm among the younger generation signals a promising future for the collector car market, the company said.
“The next generation of car enthusiasts is here, creating a vibrant market for us to help enthusiasts protect, buy, sell and enjoy their special vehicles,” said McKeel Hagerty, CEO and chairman of Hagerty. “The data is clear that Gen Z isn’t just playing car video games, watching YouTube or creating social media content; they’re also finding ways to participate in the collector car community.”
The survey polled more than 2,000 Americans. It further found that driving passion persists despite the rise of digital entertainment and alternative transportation methods. More than three-quarters (77 per cent) of Gen Z respondents stated that they either loved or liked driving, suggesting that the joy of driving is very much alive among the younger generation.
They have a strong desire for classic vehicles. Gen Z and Millennials are nearly neck and neck when it comes to owning or wanting to own a classic vehicle, with 32 per cent and 30 per cent, respectively, reporting current or previous ownership.
And while SUVs dominate, luxury vehicles attract Gen Z: While SUVs remain the most popular vehicle type among respondents (38 per cent), Gen Z shows a notable affinity for luxury cars, with 23 per cent showing interest in owning one, just behind the 26 per cent who favor SUVs.
They also showed an emotional connection to driving: Half of the respondents who drive reported feeling a sense of freedom behind the wheel, with adventurous (28 per cent) and calm (24 per cent) being other top emotions associated with driving.
The survey also found that DIY repairs are popular among Millennials: While most car owners prefer taking their vehicles to dealerships or service centers for maintenance (55 per cent), 27 per cent reported performing DIY repairs. Millennials, in particular, are leading the charge in this area, with 34 per cent of them opting to handle repairs themselves.
Hagerty’s findings also suggested that younger car enthusiasts are diversifying their interests, focusing on a broad range of vehicles from the past four decades. This trend is driven in part by social media and the accessibility of online and in-person car events, which serve as critical entry points into the hobby.
According to the survey, 40 per cent of respondents said their first exposure to classic and enthusiast cars came from attending car shows, which Hagarty said highlights the importance of these events in fostering a new generation of collectors.
Platforms like YouTube (39 per cent) and Instagram (38 per cent) are playing significant roles in how Gen Z interacts with classic vehicles, often serving as their first point of contact with the hobby. Additionally, driving itself remains a key way for these young enthusiasts to engage with classic cars, with 35 per cent citing it as a primary method of interaction.
