Gen Z Shows Growing Interest in Collector Cars

By Staff Writer July 24, 2024
Seventy-seven percent of Gen Z respondents to the 2024 "Future of Driving” survey said they either loved or liked driving, Seventy-seven percent of Gen Z respondents to the 2024 "Future of Driving” survey said they either loved or liked driving,

Hagerty’s 2024 “Future of Driving” survey indicates a strong and growing interest in collector cars, trucks and motorcycles among Gen-Z, defined as those born between 1997 and 2012. While nearly half (47%) of the respondents surveyed noted an interest in owning a classic car, Gen Z expressed significantly greater interest at 60%, compared to 31% of Baby Boomers.

McKeel Hagerty.

“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,” said McKeel Hagerty, CEO and Chairman of Hagerty. “The data is clear that Gen Z isn’t just playing car video games, watching YouTube or creating social media content, they’re also finding ways to participate in the collector car community.”

YouTube (39%), Instagram (38%), and driving (35%) were cited as top ways they interact with enthusiast vehicles.

Hagerty commissioned the international market research agency OnePoll (Talker Research) to survey more than 2,000 Americans about the role that cars play in their life, their behaviors tied to cars and driving, and more.

Key findings include:

  • Driving Is Alive and Well: Seventy-seven percent of Gen Z respondents said they either loved or liked driving, indicating a promising future not only for the auto industry, but also for the collector car community.
  • Craving Classic Ownership: Respondents shared that they have either owned, or currently own a classic enthusiast vehicle, with Gen-Z and Millennials at 32% and 30%, respectively.
  • SUVs Are Tops: SUVs are the most popular type of vehicle among respondents (38%), followed by sedans (26%) and pickup trucks (19%). Gen Z however, expressed nearly equal interest in luxury cars (23%) as they did in SUVs (26%).
  • Emotional Ties: Half of those who drive said they feel a sense of freedom when driving. Adventurous (28%) and calm (24%) were other top responses, highlighting the emotional connection and psychological benefits associated with the hobby.
  • Do-It-Yourself: Car owners mostly manage maintenance by taking their car to the dealership or service center (55%). Although 27% said they perform DIY repairs, Millennials are the most likely generation to do so at 34%
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Last modified on Tuesday, 30 July 2024 20:10