Look back next time you are driving down the lane. According to recent research of what the Americans are using, on average, 1 in 4 vehicles and trucks you drive are at least 16 years old.
IHS Markit, which monitors vehicle registrations in each jurisdiction, believes the vast number of cars and trucks on the road pre-2005 is one reason why the average age of vehicles in the United States has increased to an all-time high of 11.9 years.
“It has to do with the efficiency of on-road cars,” said Todd Campau, aftermarket expert with IHS Markit.
2020 marks the fourth straight year that the total age of vehicles in the U.S. has risen, continuing a phenomenon over the past two decades where People are hanging on to their cars and trucks longer. A decade ago, according to IHS Markit, the average age of a car in the USA was 10.6 years. The mean age was 9.6 years in 2002.
Old Vehicles in the US
“In the mid-’90s, 100,000 miles was about everything you’d get out of a car. So a car is only being broken in at a distance of 100,000 miles, “Campau said.
Despite the economy failing because of Covid-19. Leading companies to lay off millions of People, the age of U.S. automobiles is expected to rise. According to IHS Markit it can also climb at a quicker pace.
That’s because, as they work from home. Millions of people who used to commute to their jobs now put fewer miles on their cars. Consequently, their cars would presumably run longer. Moreover, many who may have been willing to buy a new car or truck will likely continue to drive their old one or trade it into a used model, a market where sales have risen.
The US currently has a total of 280 million cars , buses, and SUVs registered with agencies of state-owned motor vehicles. IHS estimates that this year about 14 million new cars, trucks and SUVs will enter the streets in the US. While the same number of vehicles will be withdrawn and taken off the market.