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

22 Table 1: Size and value of the UK's fleet of classic vehicles, 2019 Total produced Total classic Percentage classic Average classic vehicle value (£) Total value of those classic (£ million) Cars 35,868,441 1,607,182 4% 5,421 8,712 Motorcycles 2,432,938 674,592 28% 1,779 1,200 LGVs 4,874,601 375,019 8% 3,722 1,396 HGVs 699,368 74,256 11% 2,621 195 Buses 197,160 34,238 17% 1,536 53 Others 989,885 253,483 26% 4,163 1,055 Total 45,062,393 3,018,770 7% 4,178 12,611 Source: DVLA, Octane, Car and Classic, Autotrader, eBay, Tradus, Cebr analysis For the purposes of much of the analysis, we refer to the LGVs, HGVs, buses and other vehicles as ‘ commercial vehicles ’ . Based on the size of the fleet and greater variance in value per individual model, we have assessed the value of the classic car fleet with the most granularity. 4.3 The UK’s classic car fleet A s Table 1 shows, by both volume and value the most significant component of the UK’s classic vehic le fleet, is the stock of classic cars. We calculated the size of the fleet by creating a database of all vehicles which were manufactured before 2005 (and therefore at least 15 years old). These were categorised by manufacturer, model and year of first manufacture. For this, we were primarily reliant on DVLA data on registered vehicles or vehicles with a SORN. In addition, where data seemed missing or incomplete (for example there are 34,000 vehicles manufactured pre-2005 labelled ‘Other British Model Missing’ , and a further 13,000 where the date of manufacture is unknown), we relied on secondary sources. 9 After creating this database, we attempted to value each make and model. This was reliant on data from a number of sources, including Octane magazine, the Car and Classic website, AutoTrader, eBay and others. For significant makes where the value for specific models varied substantially (such as the Bentley Continental or Porsche 911) we cross-referenced these differing valuations with the year of manufacture in our database, estimating a weighted average value to attempt to account for this. Per our definition for a classic vehicle, cars of age 15- 19 years old that were worth less than £15,000 were then removed. This left the 1.61 million cars, seen above i n Figure 6. This constitutes approximately 4.5% of the total in existence, or about 1 in every 22 cars. We estimate that these classic cars have a total value of approximately £8.7 billion. This gives an average value per car of £5,421 – the highest of any of the vehicle types. 4.4 Results by manufacturer Breaking down these results by manufacturer and sorting by total value, the expected manufacturers – Porsche, Jaguar, Aston Martin, BMW and Ferrari - appear at the top. The results for the top 30 manufacturers by value can be seen i n Table 2. 9 For those makes where we were able to liaise with specific owners clubs, the DLVA data often significantly underestimated the total number of vehicles. Every effort has been made to modify our database to account for this, but it is still likely that we have slightly underestimated the total size of the fleet, and therefore also the total value. Cebr thanks specifically the Austin Healey Owners Club, the AC Owners Club, the Bentley Drivers Club, the Maserati Owners Club, the Porsche Club of Great Britain, the Riley Owners Club and the Rolls Royce Enthusiasts Club for their help.