Average Vehicle Age Holds Steady

By | June 09, 2014
Over the last several years, the average age of cars has been getting older and older, but it looks like that number has finally started to stabilize. According to IHS Automotive, cars are averaging 11.4 years on the road today. “This year we’re seeing somewhat of a plateau in the market, and expect it to remain over the next few years without a major change in either direction,” said Mark Seng, director of aftermarket solutions and global aftermarket practice leader at IHS. The company forecasts that automobiles will stay at 11.4 through 2015 before rising slightly to 11.5 years by 2017 and 11.7 years by 2019. What could be the reason for this sudden plateau? Automakers are producing cars that last longer, but consumers are als buying new cars at a high rate. There is one exception to this rule. Trucks are aging quicker than passenger cars. The average age of light trucks has risen to the level of cars at 11.4 years for the first time. The total number of cars in operation increased to 3.7 million from the year-period beginning in July 2013, up 1.5 percent. New vehicle registrations outpaced vehicle scrappages in this time by over 24 percent. Only 11.5 million vehicles were scrapped that year, compared to more than 14 million vehicles scrapped in 2012. Source: IHS Automotive

This depends so much on what brand of car you drive. I wonder if any of those recent massive recalls were included in these numbers, and if they should be revised to reflect that.