No, Car and Driver, the Classic Car Industry Won't Die with the Baby Boomers

"Brian Tschiegg" (WritingInCars)
03/13/2014 at 10:15 • Filed to: Classic Cars, Car and Driver, Dodge, Plymouth, Chevrolet, Investing

The venerable publication Car and Driver recently published !!!error: Indecipherable SUB-paragraph formatting!!! that imagined a post-apocalyptic hellscape where there are no more Baby Boomers to buy classic cars. Gasp! Sounds terrible doesn't it? Thousands of Z/28s, Mach 1s, and Hemis left to rot as teenagers zoom around on their iScooters and play with their xStations. It's hard to believe, considering their reputation, that Car and Driver would fall into the same trap as many other stories about cars and Gen-X/Y/Millenials. They assume that younger people aren't interested in classic cars or cars in general, which has proven false again and again.

I have no idea where the notion came from that all of the children born after the Baby Boomers hate the car and all that it stands for. It's an idea that seems to be based solely on ownership numbers and sales figures while ignoring socio-economic factors such as the fact that none of us have any money…or jobs…or hope. Just kidding! On that last one at least. I'm sure that plenty of my friends would love a new car (or a classic car for that matter), but it's hard to justify buying a new car when you're still working for tips and living in your parent's basement. It's not that Gen-X/Y/Millenials have no interest in cars. They just have no money for cars, especially ones that are going to break down all the time while guzzling gas that costs more per gallon than our hourly wage.

Now, Car and Driver has fallen into the same lazy rhetoric and it's pretty disappointing. Just because most classic cars are owned, not surprisingly, by the people that can currently afford them, doesn't mean that a new generation of younger professionals won't want to buy a Challenger when they can afford to. C&D does admit that the Millenials have a population size similar to the Baby Boomers so the problem of unsold classic cars could be alleviated, but they followed it up with this enlightened comment: "It's questionable whether they will care about the cars of their grandfathers…or any cars, for that matter."

The death of the classic car industry is greatly overstated. Although the Baby Boomers are advancing in age, those on the younger end of the generation are just now getting to a point of financial solvency to afford expensive luxuries like a $100,000 car with drum brakes. The article also fails to mention the way the classic car industry changed in the years since World War II. After the war, many of the parents of the baby boomers began buying pre-war cars as a way of preserving their heritage, but Baby Boomers bought a different type of car: the one they always wanted as a teen. This meant the price declined on Duesenbergs and increased on Hemi Cudas. Of course, interest will and has risen on "new" classic cars such as the NSX and even unmolested STis, but there is more residual interest in younger generations for the classics of our fathers.

Things change. It seems the automotive industry should understand that by now, but automotive journalists seem to have a hard time grasping this. Yes, demand for classic cars are down, but not because no one is interested in them. Demand will change with economy and the tastes of consumers, but cars aren't going anywhere and classic cars will always be in demand. Now stop saying we don't want to drive around in a '68 Camaro SS (black with white racing stripes, please!), Car and Driver . We love cars just as much as our fathers and their fathers and their fathers.

DISCUSSION (33)

MontegoMan562 is a Capri RS Owner > Brian Tschiegg
03/13/2014 at 10:20

Well said.

I bought my 68 Mercury Montego at age 25. I didn't even go for a "mainstream" muscle/pony car.

I'm now 27, and will do everything I can to keep it long term. I will teach my son (1 year old) the ways of the muscle car. Oh and my 15 year old brother in law is freaking out trying to get into the drivers seat of it, he can't wait to get his license...I'm not sure if I want him in it or not lol.

JR1 > Brian Tschiegg
03/13/2014 at 10:26

We love them just as much yes, but I am not sure our generation will pay the price the baby boomers pay for the classics. I think demand will decrease and the cost will as well. On some of the cars at least. 318 Challengers and 289 Mustangs will probably decrease in value. Certain cars such as the GT40, Cobra, and 427 Corvettes are probably always going to be the expensive and legendary classics. In 20 years time those will be the Pebble Beach winners.

Brian Tschiegg > MontegoMan562 is a Capri RS Owner
03/13/2014 at 10:27

Hahaha It seems like people our age are more interested in their dad's cars. My friend, Ryan Automatic who I wrote an article about, bought himself a Buick Riviera for when he didn't want his ass dragging on the ground. I learned to drive in my Dad's 944. It seems silly to think that we don't want cool classic cars too. We all just can't afford them yet!

yamahog > Brian Tschiegg
03/13/2014 at 10:29

"It's an idea that seems to be based solely on ownership numbers and sales figures while ignoring socio-economic factors such as the fact that none of us have any money…or jobs…or hope."

Hit the nail right on the head. We are living in different times. We've been told we need a college education to get a job, which is accurate for non-trade fields. The days where anyone could work a summer job to pay their tuition while saving for a car, paying rent, etc, is long gone. I miraculously graduated only $20k in the hole and am gainfully employed, but that's not a given for most people. I know many of my peers graduating with six figures of loan debt. Think of all the car you could buy with just the interest on those loans!

Brian Tschiegg > JR1
03/13/2014 at 10:30

Actually I think you have it backwards. Corvettes should decrease because they sold in relatively high numbers and since they're made of plastic more of hem should survive. The market will definitely change and there will be some surprises. I remember how surprised my dad was at prices for the Dodge Dart since he considered it kind of a common car.

Brian Tschiegg > yamahog
03/13/2014 at 10:31

GNXs not GPAs!

MontegoMan562 is a Capri RS Owner > Brian Tschiegg
03/13/2014 at 10:32

Yep!

Especially because I live in Michigan, it HAS to be a toy. You can't DD one of these up here because of the winter.

And you're dead accurate about the dads cars.

My dad had a 70 Ford Torino drag car.

I have a 68 Mercury Montego....the Mercury version of a Torino....

...they are both red lol

crowmolly > Brian Tschiegg
03/13/2014 at 10:32

I am not a baby boomer and I own a 60's muscle car. Does that make me some kind of Gen X/Y unicorn?

All I see in the future is guys like me buying the same cars our dads wanted.

Brian Tschiegg > crowmolly
03/13/2014 at 10:35

Plus, let's be honest about the hipsters in our generation that won't want to drive a "common" car. They'll get MOPAR muscle cars and odd station wagons to stand out. We can make this catch on by labeling classic cars as "grass fed."

crowmolly > Brian Tschiegg
03/13/2014 at 10:37

I consider it the ultimate in recycling!

But let's be serious here. No hipster is going to put in the wrench time to keep a pristine muscle car in good shape. It will be a labor of love for the hardcore.

Shoop > Brian Tschiegg
03/13/2014 at 10:38

I'm 16, and I'm just waiting for all the old people with their high-school dream '68 corvettes to die so I can buy one.

Or '68 cougar. Or Barracuda. Or Charger. Or 427 anything.

Brian Tschiegg > crowmolly
03/13/2014 at 10:45

Exactly. So they'll help the local economy by employing mechanics. We can make it more appealing by highlighting the environmental benefits!

superspod > Brian Tschiegg
03/13/2014 at 10:51

The whole idea is ridiculous: I'm 17, and my first car is a 1970 volvo amazon which ive been fixing up over the last year! my dream cars aren't supercars: theyre P1800ES and E-type jags. I know its not exactly common, but there are other people like me as well. Just a miniature rant, but just wanted to provide evidence that Car and Driver is wrong...

Coty > Brian Tschiegg
03/13/2014 at 10:51

I'm 19 and have "classic" cars. VWs are the key:

Kinja'd!!!

yamahog > crowmolly
03/13/2014 at 10:53

Actually, considering the amount of them obsessed with rebuilding vintage bikes and cafe racers, older/simpler cars don't seem like that far of a stretch.

JR1 > Brian Tschiegg
03/13/2014 at 10:54

Some Corvettes might decrease but the 67 427 is one of those holy grail cars I'll be very surprised if it decreases. But then again no one knows what the future holds.

crowmolly > yamahog
03/13/2014 at 10:55

Ha ha ha! Nice one.

Oh wait, were you serious?

yamahog > Shoop
03/13/2014 at 10:57

Do you live in Detroit and have you befriended a curmudgeonly old racist trying to get your cousin's gang off the streets?

/Gran Torino'd

yamahog > crowmolly
03/13/2014 at 11:07

Have you seen the cafe racer crowd? You can't swing a dead cat without hitting a glasses/scarf/facial hair hat trick! And you don't have to be Captain Redneck America to Google-diagnose your vehicle and figure out how to work a wrench. These people can build furniture out of scraps and a grainy photo from pinterest, older cars really aren't rocket science and the magical interweb is full of detailed how-tos.

zmf2112 > Brian Tschiegg
03/13/2014 at 11:19

Kinja'd!!!

My dream classic car. That hood. That stripe. Those gills. That engine.....

crowmolly > yamahog
03/13/2014 at 11:38

I guess you were serious.

It is a stretch. A big one.

No, a '69 Chevelle is not an F1 car. But there's a lot more to working on old iron than just turning the screwdrivers on your Holley carb. A lot of the old tech will fight you every step of the way. There's shoddy 60's workmanship and quality control. Many repro parts aren't even CLOSE to the originals. Other repro parts are just flat shit. Sometimes there's NO repro stuff and you need to forge your own. Did you buy off-the shelf oil? Yes? Then enjoy your flattened cam lobes. Got a low production or less popular model? Then have fun chasing down rare OEM parts.

This is all on a larger scale than a motorcycle, and is not the type of stuff that somebody who wants the car for novelty will want to deal with. You will not be fucking around with an original Z/28 or HEMI car too much as incorrect distributor numbers or carb stampings will dock you value in the thousands.

Google can give you a how-to on some things but you still need to execute it properly. I'd like to see somebody properly tune a tripower or dual quad setup using printouts and pictures. Or rebuild a Muncie. Or repair a crack in a no-longer-produced for 30 years fiberglass hood since you hit a rock.

crowmolly > yamahog
03/13/2014 at 11:57

Lost my edit. Please keep in mind that I'm talking about the (ugh) "Barrett-Jackson collector" type of stuff, not just an older car that somebody wants as a daily driver. In that case it's very easy to keep the car going given a few basic modifications.

JEM > Brian Tschiegg
03/13/2014 at 15:16

I read this article the other day and really didn't come away with anything like the "classic car industry dying". It makes sense that as collectors get on in years they decide to sell cars and the market could have a glut. It will be interesting to see what happens. I imagine prices will fall but the question is always how far?

BoulderZ > Brian Tschiegg
03/13/2014 at 18:15

Good article, Brian. Yours, that is. Not the Car and Driver fake-meme-following clickbait. I turned 40 in December. I'm told that makes me "Gen X". I've never been sure just what I'm supposed to do with that information. It doesn't ever seem too relevant, or useful. Anyway, I was wondering if it was a case of their writers pandering to an aging readership. But their demographics report says the bulk of their readership is 35 to 49, and then second place is 18 to 34. On the other hand, from the data I could find, their paid readership has been at 1.2 million to 1.4 million for the last 10 or 15 years. Maybe that's part of it. When I finally had the money, time, and space to get a project car, I had narrowed it to my two favorites: a '78 Datsun 280Z or a non-Judge '68/'69 GTO. I happily went with the Z. It was easy to find a low-cost ($1500 asking) Z in good shape to start rebuilding. The GTOs were comparatively scarce and expensive. As I remember, the cheapest I could find at the time was a rusted mess missing major driveline pieces, and yet had a $15K asking price. It's not that non-Boomers don't want "classics", in the 60s +/- American V8s sense. It's that the Boomers (mostly, there are exceptions) had the resources first, are still keeping prices high, and there are plenty of other options out there. My guess is they'll eventually age out, prices will get more reasonable, and the next group will take over. As it turns out, I'm probably happier with the Z. It's a better road course car and we have a great track nearby. I still wouldn't mind getting that GTO, though.

Brian Tschiegg > JEM
03/13/2014 at 18:15

There was some mention that the classic car industry will change towards the end of the article, which is definitely true. We will be more likely to shell out for an NSX or an STi than a 70s muscle car, but it doesn't mean that Gen-X/Y/Millenials won't want one still. It seemed to be a jump from classic car prices are down to Millenials obviously won't buy classic cars. I try not to look at anecdotal evidence (because it's available in great spades here on Oppo), but it just seemed a questionable forecast, especially for a magazine that regularly makes fun of articles about the "death of the car industry." All we know is it's going to change, and the one thing I'm truly worried about is if we'll have enough gas to run these cars when we have some free time.

PS. Sorry for the long reply.

Brian Tschiegg > BoulderZ
03/13/2014 at 18:19

Glad you're happy with your car. I completely agree with your assessment of the market. Politicians, journalists, and old people always forget that there are changes in the birthrate that, decades later, cause changes in the economy. These things change and this too shall pass. And I can't wait because I'd like to get myself something with a Cosworth engine in it.

JEM > Brian Tschiegg
03/13/2014 at 18:34

Well, we should have gas for another 30 years or so.

So maybe right now, we should start hoarding away rare 90s cars?

I swear to god, if I'm in a nursing home and 70+ year old me sees a 90s Tiburon selling for $100K I will have that fatal heart attack right then and there.

Brian Tschiegg > JEM
03/13/2014 at 18:59

Put away a clean 240sx s13, STi (any year but a bug eyed one would be preferable), an S2000, and an NSX (which are already getting pretty pricy) and you should be good for retirement. I'm no expert though.

DISCLAIMER: Do not take my investing advice. It is god awful at best.

JEM > Brian Tschiegg
03/14/2014 at 09:51

I'd also add a Supra and a turbo AWD Eclipse to that list probably. I imagine the F+F cars could one day be the "dream" cars for a generation seeing as it's what's getting a lot of them into cars. Come to think of it, that movie's use of some older cars has probably helped spark interest in them as well.

MassachusettsMuscle > crowmolly
03/14/2014 at 15:55

I'm a millennial and own a '72 Monte Carlo. Don't worry- you're not the only unicorn out there.

BoulderZ > Brian Tschiegg
03/14/2014 at 16:42

Good point on the birthrate effect, too. It is a lot less consistent than most might think, giving rise to some really interesting population bulges and behaviors. Hmmm. Cosworth. I like your thinking. It's Friday afternoon and slowing down here at work. Maybe it's time to go search Craigslist and the others for a bit. Thanks!

Spasoje > Brian Tschiegg
03/14/2014 at 18:39

I got something totally different from that C&D article: it's not that the classic car market itself will die out with the baby boomers. It's that people willing to pay six or seven figures for a muscle car from the sixties will die out...

We, as the generation that inherits the world, will still want to drive said classics, but we won't be willing to pay two mil for a Microbus.

In other words, the classic car investment market will die - the classic car market will not.

gmporschenut also a fan of hondas > Brian Tschiegg
03/15/2014 at 13:00

Depending on how many start being exported, I think at some point there will be some sort of bubble. I know a lot of people who love cars, but not as many to fiddle with carburetors.