The UK’s classic car industry could be on the verge of being “in trouble”, according to former Top Gear host Quentin Wilson.
The ex TV star claimed financial concerns could be the “greatest threat” to historic vehicles over the next 10 years.
He predicts owners could decide against expensive restoration projects as they battle to stay afloat with day-to-day costs.
This in turn could have a major knock-on effect with experts and garages at risk of going out of business.
Speaking to Classic Car Weekly, he said: “I think that the greatest threat we’ll face over the next decade is financial.
“If the classic values continue to fall then the viability of costly repairs and restorations becomes questionable.
“If owners don’t see the point of having work done on classics – or can’t afford it – then the repair industry won’t be able to support itself.
“If our classics are no longer worth restoring then the industry is in trouble and the hobby loses those specialist skills.”
The classic car industry is estimated to be worth a staggering £5.5billion to the UK economy.
For now, owners seem to be happy to splash the cash but rising costs of living could prove to be a concern.
The group warned that there was a lack of skilled labour in the historic motoring sector with demand now outstripping supply.
They revealed some owners were even waiting around for almost three years for work to begin on their classic machines.
Mr Wilson added: “My advice would be for us all to help keep our fine specialist industry going and repair and restore for the joy of owners rather than just worrying about making money.”
