25 February 2024
The Final Report (150 pages) of the major market research survey by the NZ Federation of Motoring Clubs (FoMC) has concluded that the total economic footprint of the historic and classic vehicle sector has jumped to $16.5 billion, even higher than the $11.4 billion estimate in the preliminary results of the Survey
The survey, the first of its kind in New Zealand, was undertaken in June and July 2023 by Glasshouse Consulting, with results prepared over the following 6 months. The extensive research comprised seven separate sector surveys completed online by 15,500 respondents, including motor vehicle clubs, individual club members, automotive museums, owners of private collections, businesses serving the sector, along with a random sample of the public.
Garry Jackson, FoMC President said “with no such research ever undertaken previously, there was no prior expectation of the total value that could be put on NZ’s love affair with these special vehicles.”
“The FoMC was inspired to undertake this survey by our UK counterpart, who has done several such surveys which have provided really valuable information on the importance of the historic and classic vehicle sector to that country’s people and economy.”
Included in the $16.5 Billion are the personal investment by the owners of the estimated total of the updated figure of 369,000 historic and classic vehicles, and all their expenses covering insurance, garaging, servicing, restoration, and presentation. Added to that is the total turnover of the trade businesses focused on the sector, the investments made by NZ’s automotive museums and private collectors, and the monies spent by the public visiting museums and other automotive events.
Mr Jackson said the number of employees across the supporting trades and service businesses is estimated at 5,200, similar to the total number of dentists and opticians in NZ combined.
The average value of historic and classic cars across the FoMC membership is estimated at just over $52,500 per car, $21,150 per vintage truck and tractor, and $10,500 per historic and classic motorcycle. Annual expenses per historic and classic car was just under $10,000.
The survey also confirmed New Zealanders love affair with historic and classic vehicles, with no less than 71 percent confirming that they see historic and classic vehicles as part of NZ’s heritage, and a quarter revealing that they would love to own one.
“The scale of these numbers has exceeded our expectations” said Mr Jackson. “In these times of change and challenge, this survey reinforces and quantifies the strength of the historic and classic vehicle sector, and the huge contribution that all involved make to our economy and to our enjoyment of this special part of our heritage.”
Further material (on the FoMC website):
- Introduction video by Garry Jackson, President (2 mins)
- 1 page Infographic Posters (A4 & A3) size (to post on your clubroom bulletin board)
- Summary Results (20 pages, small 4MB)
- Summary Results (20 pages, large 66 MB) – it has high resolution photos and may take a while to download
- FULL REPORT (149 pages, 7 MB)
- Survey Q&A’s (6 pages)
Downloadable photos (including NZ FoMC President)
Downloadable photos (Museum)
