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

21 4. Value of the classic and historic vehicle fleet 4.1 Introduction This section looks at the impact of ownership. Because we are using the imputed rent measure of the cost of specifically owning vehicles, we need an estimate of the value of the fleet of classic and historic vehicles. 4.2 Overview The startin g point for much of our analysis involved sizing and valuing the UK’s fleet of classic vehicles. Based on the differing characteristics of the vehicle types and the nature and quality of available data, we have split the fleet into six categories 8 : • Classic cars • Classic motorcycles • Classic light goods vehicles (LGVs) • Classic heavy goods vehicles (HGVs) • Classic buses • Other classic vehicles Overall, we estimate that there are just over 3 million classic vehicles in the UK, with total value of £12.6 bill ion. Of these, just over half (1.6 million) are classic cars. The distribution of the fleet by number of vehicles can be seen below i n Figure 6. Figure 6: The UK's classic vehicle fleet by vehicle type Source: DVLA, Cebr analysis In value terms, the total stock of classic vehicles is worth £12.6 billion. Of this, the cars are worth £8.7 billion – 69% of the total value. The full results by value are shown below in Table 1. 8 These categories are consistent with the main categories of vehicle, as recorded in the Driver and Vehicle Licensing Agency (DVLA) data. Much of the data on the stock of vehicles relies on this as a primary data source. 1,607,182 674,592 375,019 74,256 34,238 253,483 Cars Motorcycles LGVs HGVs Buses Others Total vehicles: 3.01 million