Changing ownership of classic cars
The lead article in the Business section of today's issue of The Times looks at how the ownership of collectible cars appears to be passing from the Baby Boomers (1946-64) to Generation X 1965-79). Anecdotal evidence suggests the present ownership pattern of the two leading MGV8 models is still mainly with the Baby Boomers, but over the next 5 years more younger MG enthusiasts are likely to buy MGV8s, particularly as long term owners decide on reaching their late 70s and more that it may be time to sell. The lower chart alongside shows how the probable age range of the current ownership of MGBGTV8s and RV8s may fall within the Baby Boomer age range (shown in red on the chart alongside).

The chart above ("Overtaken by younger drivers") is reproduced from the Times article.

Larger copies of both charts
You can see the detail in both charts by viewing larger copies of both charts.

MGV8 Price Guide update

Last update to the end of October 2018. More

Posted: 190119



The chart goes from 2018 across to 2023.
The lead article in the Business section of today's issue of The Times newspaper reports "For years the classic car market has been characterised as the preserve of balding men indulging their mid-life crises by acquiring the sort of car they admired in their youth but could not afford. Now the keys to the collectible car market have been passed from the Baby Boomers to Generation X. As the years catch up with the Baby Boomers (born 1946 - 64) they are being overtaken by younger rivals" as collectable car owners.

Commenting on the chart alongside, it adds the data is in a report from Hagerty "which shows that the most numerous buyers of collectible vehicles are Generation X (born 1965-79)". They add that Generation X and the Millenials together account for 53% of the market".


Looking at the MGV8 ownership profile
The chart alongside shows the Baby Boomer (1946-64) age range as 72 to 54 in 2018 and within that range the likely ages of owners of the two MGV8 models on the following bases:

MGBGTV8 - where mamy typical owners today would have probably first seen the model after it was launched in 1973 at the age of 15 to 30. At that time the MGB and derivatives like the V8 were popular with owners in their 20s and 30s.

MG RV8 - where many typical owners today would have probably first seen the model in the 5 or so years after it was launched 1993. Remember the RV8 was aimed at an older profile of buyer in their 30s and 40s and more, and when launched it was fully priced at around £25,000.

See age profile of Historic vehicle owners (FBHVC survey 2016) showing 75% owners are over 55, average age is 61 and the average period of vehicle ownership is 16 years.. More