Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Buyers holding onto new cars for nearly six years - longer than ever before]]>http://www.autoblog.com/2012/02/21/buyers-holding-onto-new-cars-for-nearly-six-years-longer-than/http://www.autoblog.com/2012/02/21/buyers-holding-onto-new-cars-for-nearly-six-years-longer-than/http://www.autoblog.com/2012/02/21/buyers-holding-onto-new-cars-for-nearly-six-years-longer-than/#commentsFiled under: ,

2006 Ford Fusion

If you're still driving that 2006 Ford Fusion you bought new, apparently you are not alone. Automotive data provider Polk says that the average new car buyer is now holding on to his vehicle for a whopping 71 months - almost six years. Used vehicles are being held for over four years, almost 50 months, according to the new study.

Polk based its findings on vehicle registration data through September 2011, concluding that longer warranties, better reliability, and of course, a miserable economy, have contributed to the shift. By comparison, just five years ago Polk showed new car buyers swapping out after just 53 months - a year and a half earlier.

This latest study reflects what we heard from Polk last month, that the average age of vehicles on the road has hit a record high. We might even see consumers further stretch this number, as Polk's analysts are not forecasting a return to the magic 16-million-units sales level until 2015. For the carmakers this represents more than just a simple make-your-numbers sales challenge, says Polk, because the longer people keep their vehicles the less brand loyal they become.

To read the full release, click through the jump.

Continue reading Buyers holding onto new cars for nearly six years - longer than ever before

Buyers holding onto new cars for nearly six years - longer than ever before originally appeared on Autoblog on Tue, 21 Feb 2012 18:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>auto salescar agepolkTue, 21 Feb 2012 18:32:00 EST http://www.autoblog.com/feed/20175962/article-comments.xml http://www.autoblog.com/feed/2012/02/21/buyers-holding-onto-new-cars-for-nearly-six-years-longer-than/20175962/article-detail.xml 20175962 http://www.blogcdn.com/www.autoblog.com/media/2012/02/06fusion04-opt_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/02/06fusion04-opt.jpg <![CDATA[Average age of car is record-setting 10.8 years old [w/poll]]]>http://www.autoblog.com/2012/01/18/average-age-of-car-is-record-setting-10-8-years-old-w-poll/http://www.autoblog.com/2012/01/18/average-age-of-car-is-record-setting-10-8-years-old-w-poll/http://www.autoblog.com/2012/01/18/average-age-of-car-is-record-setting-10-8-years-old-w-poll/#commentsFiled under: , ,

Used 2001 Ford Explorer

Americans are driving their vehicles longer, as the average age of vehicles has nearly hit 11 years, according to a new study by Polk. Blame a wretched economy and more reliable modern automobiles, but cars and trucks continue to stay on the road much longer than they did 15 years ago, when the average age was just 8.4 years.

According to a report in The Detroit News, there are other reasons for the change, including a decline in the number of miles driven last year and improved resistance to rust and corrosion. Regardless of the reason for the record-setting age of our American fleet, the news has the auto industry salivating at the prospect of boom times ahead. The National Automobile Dealers Association is predicting that new vehicle sales this year will hit 13.9 million.

"The economy, unemployment are still going to be stubborn, but there's so much pent-up demand I think the industry is going to have an awesome year," Toyota President and CEO Jim Lentz told the Detroit News.

How old is your ride? We know that Autoblog readers have more cars than the average consumer, so join our poll below by answering how old your daily driver is.


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Average age of car is record-setting 10.8 years old [w/poll] originally appeared on Autoblog on Wed, 18 Jan 2012 13:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>auto salesaverage car agecar agefleet agemedian car agenadanew car agenew car salesused carsvehicle ageWed, 18 Jan 2012 13:30:00 EST http://www.autoblog.com/feed/20151187/article-comments.xml http://www.autoblog.com/feed/2012/01/18/average-age-of-car-is-record-setting-10-8-years-old-w-poll/20151187/article-detail.xml 20151187 http://www.blogcdn.com/www.autoblog.com/media/2012/01/used2001fordexplorer-opt-1326903776_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/01/used2001fordexplorer-opt-1326903776.jpg -1 2