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US: average age of cars remains very high

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US: average age of cars remains very high

Last month the sales in the world’s second largest single automotive market soured beyond analysts expectations, spearheading their predictions for a new record level in recent years.

While many Americans move to get their new ride from the dealership showrooms, the latest statistics still show that many others continue to rely on the same car they had since over a decade ago. A study made by IHS Automotive and its Polk subsidiary shows that the average age of the car on US streets continues to hold at all-time high of 11.4 years.

“In our history of tracking, we have seen a gradual increase in the average age of vehicles on the road,” said Mark Seng, director of aftermarket solutions at IHS Automotive, in a statement. “This year, we’re seeing somewhat of a plateau in the market, and expect it to remain over the next few years.”

The average is the biggest on record since Polk started researching the numbers but is at least unchanged since 2013, while in recent years it was rising gradually. There is one change though, as the same average now applies for both cars and trucks.

Because of the great sales of new cars, the average age of cars is forecasted to increase slower than in the past five years, staying on level in 2015, then going up to 11.5 years by 2017 and 11.7 years by 2019.

by Aurel Niculescu (my Google+) - Thursday, June 12th, 2014 - filed under Industry, News. Image credit: .
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