Editor/Reporter - CheersandGears.com
January 18, 2012
According to a report from research firm R.L. Polk & Co, the average of age of a vehicle on the road stands at 10.8 years last July. The report says the average age of passenger vehicles stands at 11.1 years, while for light trucks, it’s 10.4 years.
Polk says the median age of cars has been on the rise for the past 16 years because people are keeping their cars longer due to various reasons. Most recently, the economic downturn has caused many Americans to keep their vehicles even longer, waiting for a better occasion to buy a new car.
Polk says for this year, the average age will still be around the 10 year due to higher unemployment rates. But, Polk also expects the age to level off with sales increases for new cars.
Source: R.L. Polk