Home > News > Article

Driving into the Future: Why the Average Age of Vehicles in the U.S. Keeps Climbing

2024-06-11

 screenshot 202024 06 04 20121329Average Age of Vehicles in U.S. Continues to Rise

A new report from S&P Global Mobility shows that the average age of vehicles on the road in the United States is up by two months compared to last year, bringing the average age to 12.6 years.

BY JACK FITZGERALD

The average age of vehicles on American roads continues to trend upward, according to a new report by S&P Global Mobility.

The combined average age of all light-duty vehicles is up to 12.6 years in 2024, up by two months compared to 2023.

The average age of passenger cars continues to trend higher at 14 years compared with light trucks at 11.9 years.

The average age of vehicles in use on American roads has continued to trend upward at a pretty steady pace for the past 10 years or so. Since COVID-19 first hit and new-car sales began to fall, that figure has only risen more and continued on the same path. According to a new report by S&P Global Mobility, the combined average age of passenger cars and light trucks has now reached a record high of 12.6 years.

Passenger cars help increase the average age, measuring 14.0 years compared to 11.9 years for light trucks, according to S&P. The new combined average is up by two months compared to last year and shows steady growth since crossing the 12-year average in 2021.

The rising age of registered vehicles follows early trends seen during the COVID-19 pandemic, which saw new-car prices skyrocket, leading to a massive decline in sales. As of last month, the average transaction price on new vehicles was just over $45,000, according to J.D. Power. That figure is more than $2000 cheaper than the peak, reached in December 2022, but shows a stark difference compared to the $33,695 average price in April 2019.

Read more HERE!

Source:Average Age of U.S. Vehicles Continues to Rise, Now at 12.6 Years (caranddriver.com)

Your Destination for Used Cars on Vancouver Island 

Visit the premier retailer for top-quality used cars, SUVs, minivans and trucks for sale on Vancouver Island. Vancouver Island Used Cars offers you an exclusive choice of used cars and trucks of all quality makes at the best prices in the region. This includes a premium inventory of pre-owned luxury cars, and reliable used trucks to meet all needs. Your next second-hand car awaits you at Vancouver Island Used Cars! 

We offer pre-owned (used) domestic brands including: Ford, F-150 trucks, Chrysler, Dodge trucks, RAM trucks, Chevrolet, GM, Chevy trucks and GMC trucks. We also market pre-owned luxury brands including: BMW, Mercedes, Volvo, Infiniti, Acura, Lexus, Land Rovers and a host of others - you name it and we will find it - and can help you get into the car or truck you need, no matter your current credit situation, without hassle or delay. Let us help you! 

Looking for a value-packed used Mazda, Toyota, Hyundai, Kia, BMW, Honda, Nissan, VW, or any other car? Vancouver Island Used Cars has what you need. And if we don't have it in our inventory at present, we will find it for you, it's a guarantee! 

For a high-quality, fully inspected pre-owned car and guaranteed peace of mind, there is only one name to remember on the Island: Vancouver Island Used Cars! 

Call us toll-free at 1-866-664-3340 or locally at 250-338-5777. 

Financing plans at Vancouver Island Used Cars near Campbell River, Courtenay, Comox, Parksville, Nanaimo and Victoria. 

Why not make sure you get the best financing plan possible for your next used-car purchase? Trust in the financing experts at Vancouver Island Used Cars near Campbell River, Nanaimo and Victoria to get you the right car loan for your needs, at the best rate around. 

We have long experience in providing our customers with advantageous rates, flexible plans tailored to each individual customer's needs, and even second chance credit if your situation requires. We use our ties with Mazda financing and our network of major financial partners to get you the best plan for a car loan on Vancouver Island near Campbell River, Nanaimo and Victoria. 

ajax loader2