The historic and classic motor industry provides as much to the UK economy as the arts, according to research commissioned by HERO-ERA, that found the sector turns over £18.3bn and employs 113,000 people.
Released today (15 December), this report was conducted by Cebr, and the findings are separate to those released by the Federation of British Historic Vehicle Clubs in November.
It acknowledges the FBHVC’s survey, adding that it believes there are an estimated 1.47m additional cars that the DVLA considers to be ‘classic’, making for more than 3m classics on the road, worth £12.6bn in total.
Specialists and apprenticeships are important factors
Cebr’s turnover figure integrates supply systems and associated areas, and admits that this measure allows for some double counting. But the £8.7bn being contributed to the economy according to Cebr is still £1.5bn more than that in the FBHVC’s report.
Within that near-£9bn is £371m from historic racing, £111m courtesy of owners’ clubs and rallying’s £253m, plus around £120m from magazines and museums.
