Countering the prejudices surrounding classic cars
04/21/2015
Now we have it in black and white. Thanks to the FIVA, the world classic car association, which conducted a survey of classic car owners, clubs and specialists in the EU in 2014.
According to the results of the study, which have now been published, the average classic car buyer spends an average of €13,421 on a "new" classic car. It is therefore clear that this cannot be a Mercedes-Benz 190 SL or a Porsche 911, but rather a Fiat 500 Nuova in condition 2 or, for example, a VW Beetle Standard from 1956 with an oval rear window in condition 2-3.
They then remain loyal to the classic they buy for an average of 13 years (!), covering 1433 km per year. And when they sell it (or another old car), they receive an average of 5331 euros.
Every year, classic car owners spend 6562 euros per vehicle. In view of the fact that they own an average of 2.2 such vehicles, this represents expenditure of almost EUR 15,000 per owner.
Incidentally, only one percent of the classic car owners who responded see their car as an investment; their main motives are leisure trips (42%), nostalgia (27%) and the joy of the technology and its maintenance (20%).
What remains true, however, is that despite the low average purchase prices and low restoration budgets (EUR 11,986), there is still a huge market for the 1.5 million classic car owners in Europe.
Nonetheless, according to the survey, the classic car industry is worried about the future, with more than half of the respondents anticipating falling employee numbers, turnover and profitability that can at best be maintained, and the much-cited growth apparently having to take place elsewhere, according to the respondents to the FIVA study.
