Staff Writer - CheersandGears.com
August 6, 2013
New data from R.L. Polk released today shows that the average age of a vehicle in the U.S. stands at a record high of 11.4 years. That's 0.2 years higher from last year and and nearly two full years higher than in 2007.
Passenger cars currently are the oldest vehicles on the road with an average of 11.4 years. Light trucks are not that far behind with an average age of 11.3 years.
Interestingly, the volume of vehicles between 6 and 11 years old actually decreased somewhat, but the volume of light vehicles 12 years and older jumped by 20 percent.
“Cars are just lasting longer,” said Mark Seng, a Polk vice president.
Seng explained that newer cars are better built and provide much more quality. Also, many people are keeping their vehicles to avoid monthly payments.
Polk expects the average age of vehicles to stay at current levels for the next five years, despite the rise in vehicle sales.
Source: The Detroit News