Survey Shows Millennials Are Warming Up To The Idea Of Owning A Classic Car

It's a common assumption that Millennials and members of Generation Z are less interested in cars than previous generations. But according to Hagerty survey results released last week, these younger drivers are more likely—not less—to want to own a classic car than their parents or grandparents.

Of the 10,000 United States drivers surveyed, Gen Z and Millennials were most likely to report currently owning a collectible or classic car. One quarter of Millennials surveyed said they owned a classic car, as did 22% of Gen Zers surveyed. They were followed by Gen X (19%), Baby Boomers (13%), and the so-called Silent Generation (11%).

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PUGPROUD - 10/13/2020 12:41:05 PM

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The percentage ownership of classic cars by generation seem upside down to me based on my participation at car shows and cruises in my area.

MDarringer - 10/13/2020 6:00:42 PM

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Owning a classic car requires a lot of cash redirection and not just for acquisition, but also storage and maintenance.

Millennials are just now getting far enough into their careers where they have extra money that they can allocate.

It's not that Millennials don't like classic cars, they are not as able to afford them--as a group--than say GenX and Boomers.