If you thought the passion for classic cars was fading with the older generations, think again! There’s a fresh wave of car enthusiasts on the rise, and they’re bringing a vibrant new energy to the collector car scene. The next generation, spearheaded by Gen Z, isn’t just content with playing car video games or scrolling through social media—they’re diving headfirst into the world of collectible cars.
Driven by Passion
“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,” says McKeel Hagerty, CEO and Chairman of Hagerty. According to Hagerty’s recent survey, conducted by OnePoll, over 2,000 Americans shared their car-related habits and sentiments, painting a bright picture for the future of car collecting.
Key Insights from the Survey
Driving Love is Alive
Seventy-seven percent of Gen Z respondents said they either loved or liked driving. This enthusiasm is great news for both the auto industry and the collector car community, suggesting a thriving future ahead.
Classic Car Ownership
A significant portion of Gen Z (32%) and Millennials (30%) reported owning or having owned a classic enthusiast vehicle. This shows a strong interest in vintage wheels among younger generations.
SUV Craze
SUVs top the popularity charts with 38% of respondents favouring them. Gen Z, however, also shows a keen interest in luxury cars (23%) alongside SUVs (26%).
Emotional Connection
Driving isn’t just about getting from point A to point B. Half of the respondents said driving gives them a sense of freedom. Words like adventurous (28%) and calm (24%) frequently popped up, underscoring the emotional and psychological perks of this beloved hobby.
DIY Maintenance
While most car owners prefer taking their vehicles to dealerships or service centres for maintenance (55%), a solid 27% tackle repairs themselves. Millennials lead the DIY charge with 34% rolling up their sleeves to fix their rides.
Shifting Gears: New Preferences in Car Collecting
Today’s younger enthusiasts have a broad interest in cars from the past four decades, fuelled by the digital age and social media. Car shows remain a crucial gateway into the hobby, with 40% of respondents saying their first exposure to classic cars was through these events. YouTube (39%), Instagram (38%), and simply driving (35%) are also significant avenues for experiencing and engaging with enthusiast vehicles.
Gen Z’s Favourite Rides
When it comes to insurance inquiries, Gen Z enthusiasts often ask about Mazda Miatas from 1990-1998. This iconic roadster, with over 1.1 million sold, captures the imagination of young collectors. Millennials, on the other hand, show a penchant for the GMT400 Series trucks from 1988-2000.
Cars: A Piece of Heritage
For many, classic cars are more than just vehicles—they’re pieces of history. About 43% of those surveyed believe that classic cars should be preserved like historic buildings. Hagerty has invested more than $22 million in preserving the culture and heritage of collector cars, ensuring that this dynamic culture thrives for future generations.
The Road Ahead
The Hagerty “Future of Driving” survey is a pivotal step in understanding the next generation’s perspectives on driving, car collecting, and car culture. These insights will help shape the future, highlighting the crucial role younger generations play in keeping the passion for collectible cars alive.
