There is a Report Variety of Vehicles on US Roads, and the Common Age Is Practically 12 Years Outdated
Feeling self-conscious about driving a automotive made in 2007? Effectively, do not as a result of in line with the numbers, that is fully common. Latest analysis carried out by IHS Markit signifies the typical automotive or truck roaming round on U.S. roads in 2019 is exactly 11.eight years previous, the best that determine’s been since 2002.
IHS says the typical automotive age is rising because of the 2008 recession’s lingering impression on new automotive gross sales and the truth that trendy automobiles can final fairly some time.
“Higher know-how and general automobile high quality enhancements proceed to be key drivers of the rising common automobile age over time,” stated the data agency’s Mark Seng. “The 40 % drop in new automobile gross sales as a result of recession created an acceleration in common age like we have by no means seen earlier than. Within the final couple of years, nonetheless, common age has returned to its extra conventional price of improve.”
Given a earlier report that noticed younger drivers preferring to purchase costly used automobiles over low-cost new ones, this is not a pattern we see going away anytime quickly.
Unsurprisingly, the youngest automobiles could be discovered within the Northeast the place harsh winters and highway salt fairly actually eat automobiles up. Breaking it down by state, Montana’s automobiles are on common the oldest at 16.6 years whereas Vermont residents are almost certainly to drive newer, with a lowest common age of 9.9 years.
Additionally notable is the sheer variety of automobiles presently lively within the nation: 278 million. That is 5.9 million greater than final yr, a year-over-year progress of two.2 %. For extra perspective, the U.S. inhabitants (together with kids) was solely round 328 million in the beginning of the yr when IHS gathered its information. We drive a whole lot of automobiles.
h/t: Fox Information