Here at Clasiq we like Classic Cars. We like looking at pictures of them, driving them and fixing them. And, what we really like to do is find out more about them and the people who drive them. To this end, and with some help from our friends at Hedges & Co, we just found at some interesting stuff about Classic Cars that we just had to share.
The total ownership of cars in the US is estimated to be 5.8 million. That includes model year 1919 through 1981. If you eliminate 1980 and 1981 the number is 5.2 million.
1961-1981 is sometimes defined as “Late Post War” so the 5.8 million figure would be inclusive of “Late Post War” vehicles. Sometimes 1960-1970 is defined as “Late Post War” so the 5.2 million figure would be inclusive of that definition of “Late Post War.” Either way you look at it, that’s a lot of people who drive a classic whip.
Sunshine and muscle really do mix
The top three states for classic car ownership are California, Florida and Texas. Of course, there are a lot of people in these states, but we think the sunshine may have a factor in this too, especially if the whip is a soft top.
This probably won’t surprise you but Chevrolet is the most popular classic car. It’s hardly a surprise when you consider that Chevy has produced cars like the Camaro is it?
Approximately 30% of all classics are currently undergoing restoration or are having some major work done to them. We all know that a classic can be a labor of love and what probably won’t surprise you is that they can be expensive. Owners spend an average of $10,000 a year on restoring their car.
Are classics just for the guys?
Apparently so! 85% of owners are guys and aged at around 57. The market is big too, really big, and is estimated to be worth around $5 billion a year. The average classic car owner has a household income of $125,000 a year and around 95% own their own home. Yep, you guessed it, many of us piston heads are probably guys and baby boomers.