The Real Threat To Classic Cars Might Not Be EVs, But The Heirs Who Get Them

Charging Into A New Era

Electric vehicles have dramatically changed the automotive landscape, prompting several legacy brands to introduce models that would have been unthinkable decades ago, such as the Ford Mustang Mach-E. Part of that shift comes from policies requiring newer vehicles to produce fewer emissions, eventually targeting zero emissions altogether. That also raises questions about the future of classic cars, especially older carbureted models compared to more modern fuel-injected vehicles.

CarScoops, citing Hagerty, said there are more than 43 million collectible cars in the U.S., with approximately 12 million of them, valued at around $570 billion, expected to be passed down from one generation to the next over the next 15 years as part of the Great Wealth Transfer. It might seem that EV-supporting policies would kill these classics, but the report noted other factors that could make them less appealing to heirs, including maintenance costs.

Nostalgia Comes With Bills

With parts becoming harder to source and certain classic models requiring specialized mechanics, it is not hard to imagine why maintenance can be costly and tiring. Some owners also spend heavily on storage to keep cars in tip-top shape, which can be crucial if they plan to sell them later. The report, citing Bloomberg, said an anonymous owner of a 1965 Studebaker spent more than $40,000 on storage and maintenance costs.

There’s also a human side to inherited classic cars. Some heirs may see them less as prized possessions and more as responsibilities, or even burdens. At the same time, classic cars can carry major sentimental value, which can complicate inheritance matters and even lead to family disputes when ownership plans are not clearly laid out.

Not Every Generation Dreams The Same

Although not mentioned in the report, shifting preferences could also threaten certain classic cars. While boomers helped sustain demand for classics such as muscle cars with large-displacement V8s, younger enthusiasts may gravitate more toward JDM icons like the Toyota Supra Mk4. That could reshape the desirability and value of some classic vehicles, though certain models, including air-cooled Porsche 911s and Ferrari halo cars, may continue to remain strong.

But despite the uncertainties, there are still efforts to protect them, including Leno’s Law, a proposal aimed at preserving car culture by allowing certain classics to skip smog checks. EVs and emissions rules will remain part of the conversation, but the bigger question may be whether future generations still see these cars as worth preserving.