The classic car sector contributes £7.3 billion per year to the UK economy according to the 2025 National Historic Vehicle Survey just published by the Federation of British Historic Vehicle Clubs.
This figure is up by £100 million from when it was last calculated at £7.2 billion in 2020, and the average classic car owner now spends £4567 per annum on their historic vehicles.
Included in the headline figure, the FBHVC’s report says there is £890 million of inward spending in the UK from foreign historic vehicle owners.
The success of the classic car sector in the UK also comes with a warning in the FBHVC report that more needs to be done to encourage a new generation of engineers and restorers, as well as a younger generation of owners and enthusiasts to sustain the sector.
The number of classic cars in the UK has risen to 1,934,178, and there are an estimated 2700 specialist businesses employing 34,500 people.
The report also found that 45% of these businesses are planning to offer an apprentice programme to ensure skills are passed on.
David Whale, Chairman of the FBHVC, said: ‘This report underlines just how vital the historic vehicle sector is to Britain’s economy, culture and communities. It’s worth a record £7.3 billion a year, supports 34,500 skilled jobs, and unites millions of people through a shared love of our motoring heritage.
‘But we cannot take that success for granted. The average owner is now in their 60s, and we urgently need to inspire and train the next generation. Programmes like our new Youngtimer initiative and industry apprenticeships are key to ensuring these vehicles – and the skills to maintain them – survive for the future.’
The FBHVC report also notes that classic cars contribute only 0.2% of all road miles travelled per year in the UK while generating significant tourism, cultural and educational value.
