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With more than 9.4 million pre-1990 vehicles estimated on the road today, more consumers and businesses report that they are modifying classic cars with modern parts and technology. While a significant number of consumers and businesses continue to restore classic cars to their original factory specifications, a growing number are customizing the vehicles to include upgraded engines with enhanced performance, increased efficiency, and modern-day comforts (a practice often referred to as “restomodding”).
The “Classic Cars, Modern Markets” report from SEMA Market Research reveals new data on market sizing, purchasing habits, and vehicle usage of classic car vehicle owners and explores how modern consumers feel about, work on, and engage with their fellow enthusiasts about classic vehicles.
“Classic cars and trucks have been a key part of the specialty automotive aftermarket since it began, and for many people who own older vehicles, fixing them up or modifying them into something new is a passion project that can span decades,” said SEMA Director of Market Research Gavin Knapp. “This report will help businesses understand this unique customer base, how to reach them, and where the current and future opportunities are for the vintage and automotive restoration aftermarket.”
The report, which researched classic car owners and businesses, found:
To learn more about the current state of the classic vehicle market and where the opportunity is for your business, download the “Classic Cars, Modern Markets” report for free today at www.sema.org/market-research.