News
According to a new study by Hagerty, the young adult generation, consisting of Millennials & Gen Z, are much more likely to enjoy driving.
The report states that 77% of Gen Z (born between 1997 & 2012) in the study say they like driving. Millennials were reported to have the highest rate of DIY (Do-It-Yourself) repairs at 34%. Also, Millennials & Gen Z are significantly more likely to have an interest in owning a classic car, compared to Baby Boomers. Reports state that 32% of Gen Z and 30% of Millennials in the study responded that they already own or have owned a classic vehicle.
McKeel Hagerty, CEO & Chairman of Hagerty, stated, "The next generation of car enthusiasts is here, creating a vibrant market for us to help enthusiasts protect, buy, sell and enjoy their special vehicles." He added, "The data is clear that Gen Z isn’t just playing car video games, watching YouTube or creating social media content, they’re also finding ways to participate in the collector car community."
The report also states that Gen Z's interaction with classic enthusiast cars is mainly via digital means. YouTube (39%), Instagram (38%) and Driving (35%), were cited as the top ways Gen Z interact with enthusiast vehicles. Another important non-digital entry point is by attending car shows.
Source: Hagerty