ownership of classic cars|
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.
copies of both charts
You can see the detail in both charts by viewing
larger copies of both
MGV8 Price Guide update
Last update to the end of
October 2018. More
chart goes from 2018 across to 2023.
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".
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:
- 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.
- 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