Younger enthusiasts redefining the classic car hobby, increasingly interested in restomods, SEMA research finds

When you think of someone in the classic car hobby, chances are you imagine a purist who owns a vehicle of a vintage no newer than perhaps the early 1970s, brings it cautiously out of the garage only for car shows or occasional pleasure cruises, and has a goal of maintaining or restoring the vehicle to a condition as close to showroom original as possible, obsessed with matching numbers and insistent on using only period correct parts.

However, while that type of enthusiast certainly still exists, the nature of the classic car hobby is changing—as is even the very definition of what is a classic car—especially as younger people catch the old car bug.

A recent market research study by the Specialty Equipment Market Association (SEMA) finds, for example, that while 29 percent of owners of pre-1990 vehicles still have restoration as their vision, the contingent interested in creating a “restomod”—keeping the classic look but making modifications to approach more modern standards of performance, comfort, and convenience—is not much smaller, at 26 percent.

When you drill down further into those numbers by considering the age of the vehicle—which often correlates with the age of the owner—a different picture emerges, with 40 percent of owners of vehicles built before 1974 interested in pure restoration.

So the younger the owner, the less concern there is about “keeping everything stock.”

SEMA’s market research found that 38 percent of owners below age 45 are inclined toward restomod builds, compared to only 22 percent of older owners.

Not surprisingly, with the infusion of younger enthusiasts into the classic car hobby comes a widening of the very definition of what is a classic car.

In the words of the report, “Over time, more cars get ‘old’ and our definition of a classic requires change…. The classic vehicle market has historically been driven by Baby Boomers and the vehicles they care about. But as more Gen Xers and Millennials join the scene, they bring with them a growing interest in ’70s, ’80s, and even ’90s vehicles.”

The 43-page report, entitled Classic Cars, Modern Markets and announced by SEMA in a March 16 press release, is intended to help business in the automotive aftermarket parts and service industry identify opportunities created by these changing dynamics of the classic car hobby. For the purposes of the report, SEMA widened their traditional definition of a classic car as a pre-1974 vehicle to include any car or truck manufactured before 1990.

Those who fear that the classic car hobby is dying have an understanding that just doesn’t align with the numbers. Even in the midst of a pandemic, sales related to the hobby grew in 2020, according to SEMA, with 68 percent of classic vehicle parts manufacturers and 52 percent of retailers selling those parts reporting growth compared to 2019.

According to the report, “The industry is seeing restomodding as the growth sector in the classic market.”

With change comes opportunity, and SEMA, as the trade group dedicated to the success of the automotive aftermarket industry, is putting a spotlight on what these trends could mean to automotive businesses.

“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.”