THE ECONOMIC AND ENVIRONMENTAL IMPACT OF THE HISTORIC AND CLASSIC MOTOR INDUSTRY IN THE UK

12 Figure 3 Greenhouse gas emissions per £1,000 spent So, even using existing technology, historic and classic vehicles actually are contributing to the greening of the economy, and technological change in future will enable the sector to contribute further. 10) The UK’s stock of historic classic vehicles, estimated to be worth £12.6 billion, is a major contributor to the UK’s heritage. Not strictly comparable , but the more than 400 historic buildings and sites looked after by English Heritage are estimated to be worth about £30 billion to the economy. 11) It is not just the normal expenditure by historic and classic vehicle owners that boosts the economy. In addition, there is a host of additional industries such as owners clubs, historic racing and rallying, museums, magazines, tools and parts that also contribute. Our cautious estimates suggest that in total these businesses contribute over £ 500 million per annum in GVA to the economy. 12) The industry is widely dispersed throughout the country. London only accounts for 5% of its activity. While the West Midlands, traditional home of the motor industry, accounts for nearly double that. And the automotive, motorsport and historic vehicles clusters interplay with each other through supply chains and skill creation. 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 Greenhouse cas emissions (kg of CO 2 equivalent) from spending £1,000 on..... High impact per £ Medium impact per £ Low impact per £ Average impact per £