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

31 Table 7: Classic LGVs, HGVs, buses and other vehicles, 2019 Number Value (£m) Average value (£) On-road % Average value of on-road LGVs 375,019 1,396 3,722 52% 4,857 HGVs 74,256 195 2,621 38% 6,640 Buses 34,238 53 1,536 34% 4,135 Other 253,483 1,055 4,163 71% 5,722 Total 736,996 2,699 3,662 56% 5,330 Source: DVLA, Autotrader, eBay, Tradus, Cebr analysis Due primarily to the high number of vehicles identified, classic LGVs and other vehicles have a significantly higher total value than the HGVs and buses. Overall, we estimate that the 736,996 LGVs, HGVs, buses and other vehicles are worth about £2.7 billion, giving an average value of £3,662. For those still registered as road -worthy (just over half) , this rises to £5,330. However as was discussed in Sectio n 4 .3, a large percentage of the LGVs are 4x4s (the majority of which are Land Rovers). We classified these as LGVs to maintain consistency with DVLA registration data, but the majority of these are clearly not commercial vehicles. Of the 375,000 LGVs, just over a third (136,000) are estimated to be 4x4s, and in value terms these make up £863 million (62%) of the value of all classic LGVs. Furthermore, there are some other vehicles (such as the Reliants) that are non-commercial. By stripping these out, we can give an estimate for the stock of classic commercial vehicles. These findings are shown i n Table 8. Table 8: Classic commercial vehicles by vehicle type, 2019 Number Value (£m) Average value (£) On-road % Average value of on-road LGVs 238,785 533 2,232 54% 3,990 HGVs 74,256 195 2,621 38% 6,640 Buses 34,238 53 1,536 34% 4,135 Other 247,168 1,051 4,252 72% 5,745 Total 594,447 1,831 3,080 58% 5,112 Source: DVLA, Autotrader, eBay, Tradus, Cebr analysis Due to the removal of the non- commercial LGVs and other vehicles, the total value has fallen by £867 million, to £1.81 billion. Over half of this (57%) is made up of other vehicles, of which as referenced, the majority are agricultural. The average value of a classic commercial vehicle is £3,080; however this rises to £5, 112 for the 58% that are not registered with a SORN.