Summary:
Recent data from Hagerty, a classic-car insurer, challenges the notion that younger generations lack interest in classic cars. Contrary to the old belief that car ownership does not interest Millennials. This is due to financial constraints, the new data indicates that Generation Z, who succeeded Millennials, is showing even more enthusiasm for vintage vehicles. This emerging interest is so huge that it may even surpass that of Baby Boomers.
The survey, conducted with over 2,000 American respondents by OnePoll, reveals significant insights into generational attitudes towards classic cars. While about 47% of all respondents expressed interest in owning a classic car, Generation Z’s interest is notably higher at 60%, compared to just 31% of Baby Boomers. This is further supported by the fact that 77% of Generation Z respondents enjoy or love driving, and 32% either own or have owned a classic car. This compares favorably to Millennials, of whom 30% reported classic car ownership. Millennials are, however, more inclined than other generations to undertake their own car repairs, with 34% indicating they perform their own maintenance.
The survey also highlights a shift in classic car preferences. Millennials once favored classic models from the 1960s and 1970s. But data shows both Millennials and Gen Z are interested in cars from the 1980s and 1990s. Despite a smaller sample size, the survey’s findings align with Hagerty’s broader insurance data, which shows that Gen Z’s classic car preferences include models like the Mazda MX-5 Miata, while Millennials lean towards GMT400 Series trucks from Chevrolet and GMC.
In conclusion, the survey suggests that classic-car culture is vibrant among younger generations, contrary to previous assumptions. This trend reflects a continuing passion for vintage vehicles across age groups, with Gen Z possibly leading the charge.
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