Why Gen Zers are falling in love with car collecting

Published On Sep 28, 2024, 10:04 AM

Gen Z is increasingly interested in car collecting, with 60% expressing desire to own classic cars, compared to only 31% of baby boomers. This generational shift highlights a decline in previous assumptions that younger generations prefer ride-sharing services over car ownership. Economically, Gen Z now has greater financial stability, enabling them to afford classic cars, particularly from the late 80s to the early 2000s (like Toyota Supras and BMWs). Online auction sites have also boosted interest and accessibility in the classic car market. Experts encourage Gen Z collectors to prioritize personal enjoyment over purely investment potential when purchasing cars.

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The rising interest in car collecting among Gen Z coincides with patterns of increased disposable income and the popularity of certain car models. Companies associated with classic car sales, especially those that align with this demographic (with cars from the late 80s to 2000s), are likely to benefit from this trend.

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Why Gen Zers are falling in love with car collecting

Sep 28, 2024, 10:04 AM

Classic car insurer and enthusiast auto business Hagerty found in a recent survey that Gen Zers expressed significantly greater interest at 60%, compared to 31% of baby boomers.

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