Average Car Age
Cars are becoming less and less of a disposable item, according to a report from The Detroit Free Press. The average age of the 247 million cars and trucks in the US fleet is now up to 11.4 years, an increase of two full years since 2007 and 0.2 years since 2012. The newspaper spoke with Mark Seng, vice president of industry research firm Polk, who cited consumers' desire to avoid monthly payments and the ever-improving quality of mainstream cars and trucks as reasons for the increased age.
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.
That old clunker in your driveway is not looking so bad right about now, huh? As borne out in the last few month's set of sales figures, Americans are purchasing fewer cars today than in previous years, meaning that the current fleet of vehicles on the road is older than ever before. According to data compiled by R. L. Polk & Co., the average vehicle in use today is 9.4 years old, up a few points from last year's 9.2-year average.
According to a study recently published by R. L. Polk & Co., Americans are keeping their cars on the road longer than ever before. One look at our recent posts on monthly sales figures should be enough to explain the phenomenon, as drivers are delaying the purchase of a new vehicle as long as possible. Much of this trend can be attributed to the current economic climate since consumers have less money each month to spend on transportation needs. Last summer's record high fuel prices were als