FJ Indicator Report points to future of classic sector
Thursday, 19 May 2022 at 10:00:00 UTC
New report looks at future of classic industry
The first Footman James Indicator Report has been published and it shows areas where the classic car industry can increase its growth and relevance.
A key finding of the report is the classic sector needs to do more to become more inclusive to younger enthusiasts and more diverse fans. The report shows only 9% of classic car owners are women, while almost half (49%) of new drivers aged 25 or younger would consider buying a classic car.
Among the ideas mooted in the report are a move to shared ownership of classic cars, and online communities are an increasingly important part of the ownership experience for younger enthusiasts.
Managing Director of Footman James, David Bond said: ‘Change is good for our community. In many ways, as this report highlights, we have changed and evolved as a classic car sector, using technology and communities in times of need. But, if we look around, it’s clear to see that our industry isn’t doing enough to change quickly enough, especially around the gender and age of enthusiasts.
‘Speaking to our clients and indeed the public about classic and collector cars, as a community, we’re deemed as old school as our cars, and we must listen to this criticism and become more attractive, inclusive and welcoming to the new era of the classic vehicle community. After all, without change, we wouldn’t have grown the classic and enthusiast vehicle sector this far.’
The full report can be downloaded here: