Have British Sports Cars Had Their Day?
Almost a year ago, The Roadster Factory, a beloved British car parts supplier suffered a tragic fire at its Pennsylvania warehouse. It might have been a metaphor for the classic British sports car world in general. From market data to shifting demographics, this part of the hobby is suffering setbacks.
In the timeline of sports cars (especially affordable ones) British cars had a run comparable to the dinosaurs. From roughly 1945 until 1980 or so, little English roadsters ruled the planet. From beachfront drives to SCCA race grids and autocross runs, they were absolutely everywhere. Then, labor issues, bad management, non-existent R&D budgets, and increased competition from other car-building nations brought things to a sad end. But that wasn’t quite the end of things. A massive subculture and aftermarket ecosystem sprouted up and flourished, keeping these cars on the road long after the demise of the OEMs and ushering them into “classic” status. The baby boomers who remembered British two-seaters when they were new made up the lion’s share of this culture. They loved their MGBs, Austin-Healeys and Triumph TR6s. Millennials and Gen-Zers, not so much. With flat values for the last decade, is the reign of the British sports car finally over? Maybe, maybe not.
From the early 2000s until roughly 2015, British sports cars had a pretty decent run in the collector car market. Excellent TR6s became $25,000+ cars, perfectly restored Austin-Healey 3000 MKIIIs could bring well over $100,000, and good Jaguar E-types more than double that. It was the knock-on effect of people buying the cars that imprinted on them in their youth. It happed with other 1950s-70s cars, too. But with older Boomers lightening their loads, it seems like the market is getting smaller for classic British sports cars.
Strangely, the only millennials that I know who own British sports cars own Spridgets (a portmanteau of Austin-Healey Sprite/MG Midget). I personally know four Spridget owners who are under 40. Some of the appeal for them is a factor of the cars’ simplicity and sheer cheekiness, but mostly, it’s because they’re super affordable. Interestingly, though, these seem to be dead-end acquisitions for millennial enthusiasts. By that I mean they’re not a gateway to other, more sophisticated British cars further up the ladder. Young Spitfire owners don’t move up to a TR6 and young Sprite owners don’t move up to a Big Healey, much less something like an E-Type. Boomers and Gen-Xers thought that was the most beautiful car ever, but it just doesn’t resonate with a lot of younger enthusiasts.
Hagerty’s insurance data backs this up. While first generation (1965-73) Ford Mustangs fit squarely into the baby boomer demographic by model year, they have significant appeal with younger buyers as over 20 percent of insurance quotes come from millennial buyers. For the 1961-67 E-Type, on the other hand, that number is less than 6 percent, and for the Austin-Healey 3000 it’s a little better at slightly above 10 percent. The MG TF, which carries a value low enough to be tempting to younger buyers, nevertheless sees a dismal 4.7 percent of quotes from millennials, and just 1.6 percent from Gen Z. As for values, Hagerty’s British Car Index has been conspicuously quiet even during the pandemic boom of the early 2020s. The index’s average price of $91,760 is basically the same as it was in 2015.
Classic British sports cars also suffer in comparison with the cars from the 1990s roadster revival. NA-generation Mazda Miatas, BMW Z3s, Porsche Boxsters and Mercedes-Benz SLKs are similarly cheap and plentiful, but they’re also significantly faster, more usable, and more reliable. To someone born in the 1990s, they also look plenty vintage and are getting old enough to become “classics” themselves.
Are British cars dead? Not by a longshot. The huge number of classic British cars out there aren’t going to just disappear. While their best days value-wise might be behind them, at least part of another generation will eventually succumb to their tweedy charms, just as any genre of car always gains a following. But it might be smaller, while any serious interest and value growth in British cars will likely be in models from the 1990s and beyond—classic Range Rovers, manual Aston Martin V8 Vantages, Lotus Elises/Exiges, McLarens, and even the odd TVR Cerbera and eventually (when it becomes legal here) the utterly mental TVR Sagaris. Basically, the cars of the Forza and Grand Turismo kids. The generational shift is here. Tastes change. Embrace it.
I went to college late in life, and I was in a design class. Topic of discussion was the difference between ‘appearance’ design and design as an engineering product development process… and of course where the two came together. Examples included a Jaguar E-Type, which most of the class mis-identified as a number of different sports cars which brought dismay to myself and the instructor… so the Z generation definitely was not tied in to English sports cars.
Around that same time, I ran across my first Jensen Interceptor, which I had never heard of and instantly fell in love with… due in part to its American iron drivetrain which I would have half a chance of actually getting parts for. I just didn’t have 15K to pony up for it at the time, and the rare examples I see pop up now are more in the range of 45K which is more than I am willing to pay for a probable parts nightmare with likely electrical problems. If you are telling me the prices are coming down, then one of these might just move down to the X generation one day
Suspect the lack of interest in E-Types by the younger set may be tied to their not having an extra $100k or more lying around!
Or not. Decent project E-types start at less than a 911 in equivalent condition. I know at least several millennials who have bought or are looking for vintage 911 project cars, but not a single one who is looking for a Jag.
I had a1975 TR6 that I bought for $5000 in 1981. I drove that car to college, and all over New England. Every day. I sold it in 1985 because I was in Brooklyn at a different college- no parking and no money. In 2018 I had cash in hand ready to buy a 1973 TR6 in French Blue with a Surrey Top. Looked awesome. Ran way better than mine. Serviced to death…. But it was a brutally basic thing. And terrifyingly small and narrow on the road. The glorious sound and killer looks could not overcome those deficits for me.
I think a lot of people have similar feelings about these cars.
After an hour test drive, I went home without it and never looked back. Things changed, the world changed. I read somewhere that a “collector” car more than 20 years old only gets used 7 times per year. We are used to a certain level of safety, comfort, effort, reliability and climate control. As each of those is reduced, the “collector” car stays home in the garage more and more. But, exceptions are everywhere. G body 911. BMW 633csi. Cripe even 78 Camaros.
My stable ranges from 1965 to 2012, and I make a point to run through them at least every other week, but I acknowledge that I am probably a significant outlier in that respect. It is my firm belief that what is killing car culture and probably culture in general is an overreliance on safety, comfort, effort, reliability, and climate control. I think Ed Rendell once termed it as the wussification of America
We must look at this objectively.
The best British cars are priced out for most of us.
The British sports cars is nearly extinct. Some token Lotus and Aston. The new Jags are not that exciting and the MG is Chinese.
The older British cars that are affordable are often in need of great work as rust has done tons of damage.
Finally cars like Morgan’s are expensive like Jags snd new Aston’s that few can afford and there are better values out there with better resale.
Range Rovers are doing better now than ever in America. They are common sights. Same with the German Bentley.
The Mini has a good following but repairs hurt resale and repeat buyers. Even the German blood still leaves the same BMW service issues.
Morgan prices have been relatively stable for many years, with Plus8*s getting the bigger numbers. Decent driving level cars (+4, 4/4) can be had for 25K-30K. They are easy to work on, parts are easy to obtain, and modifications are encouraged, unlike Jag. I have had my 1963 4/4 since 1991 and look forward to driving it as often as my wife will allow.
Im fairly young at 26 years of age, I do find the idea of the little british roadsters appealing but like it was alluded to in this article its mainly the cheap ones, spridgets, spitfires, mgbs. I just tend to be drawn to them at cars and coffee and shows (mainly becuase I just like small cars). I dont have a personal connection to the more expensive ones and even if i do think they are pretty I just dont see myself owning one. Well maybe if I had the money I would get a orignal Lotus Elan. And once again like is said in the article the little roadster that I do own is a 92 Miata. I do think I would pick up one of the more affordable LBCs to mess with at some point.