Accessibility to a lot of old cars or classic cars is also an issue with millenials, and I am one so I feel I can weigh in. lol
They're still a luxury in an economy where jobs are tough to come by, student debt is astronomical, and wages are stagnant. I'm a licensed Paramedic who can consciously decide on my own accord to administer controlled substances to people and I make just shy of $15.00/hr. Oh, and I live and work in Miami. Not looking for sympathy, just saying. It's why I'm going back to school to pursue nursing, which when I'm done with that is when I plan to enter the market for a Trans Am since I am so in love with them that I'm not willing to compromise with anything else. I already did that once. (2011 Camaro.)
Two additional factors to consider include the values of a lot of "old" cars, as well as what ticks *OUR* nostalgia box as opposed to most of the people on this forum. Classic cars from the muscle car era are inaccessible to a lot of millenials, and even if they may be what some millenials actually want; they're a pipe dream due to the aftermath of the muscle car bubble from the mid-2000's to the early 2010's. Thankfully, they're starting to cool down a bit as the baby boomer generation ages out. Our Trans Ams were also white hot between 2012-2016 and even they have pretty much stagnated since then. Point is, they're unattainable to a generation that barely even purchases new cars due to the expense; and if we do, we usually have to settle with draconian loan terms in excess of 72+ months to keep payments manageable. So with that in mind, the last thing we can think about is a classic car, even a cheap project to wrench on.
As for the second factor, just like with the Baby Boomers longing for the cars they grew up with, history will repeat itself. The cool cars of our youth were a lot of the 90's Japanese Sports Cars (RX-7, MKIV Supra, Integra Type R, etc.) and Euro spec performance models like BMW E30's. Another emerging trend that happens to be occupied primarily by millenials in not only new car sales, but also the collector car market, is the sudden shift to performance offroad SUVs and trucks. Some of the best selling cars right now are Wranglers, SVT Raptors, and RAM Rebels. Because of that, Ford is bringing back the Bronco, Land Rover is bringing back the Defender, and one of the best selling luxury cars is the MB G-Wagon and Suzuki even brought back the Jimny. Suffice to say, it is one of the most profitable segments in the industry right now (which is why the new Chevy Blazer is so sacrilegious since it is the perfect nameplate to use for Chevy's entry into the segment, but instead they turned it into another sporty crossover). On the collector car side, classic Wagoneers, 90's Land Rover Defenders, Jeeps, Toyota Land Cruisers, and International Harvesters are selling like hot cakes and are going up in price.
At the end of the day, nostalgia drives this hobby, and one's nostalgia is proportional to their upbringing and the environment therein. I was raised by a single mom who had two Trans Ams, my first ever model kit was an AMT '74 Cuda, and we had two family friends that were Baby Boomers that loved American muscle, so it's no wonder I ended up the way I did. Meanwhile, most other millenials were first introduced to cars with the sweet looking Mazda or Mitsubishi at the dealership in 1995, and of course let's not forget the legacy of the Fast and the Furious, which despite Toretto's Dodge Charger, the movie was primarily focused around import cars and tuner culture.
Honestly, since I am more partial to classic muscle, I like the fact that most of my generation doesn't care for them. Makes my future Trans Am stand out all the more, and become even more attainable as the values drop.
