Average Vehicle Age

New average vehicle age information has surfaced. Data compiled at IHS Automotive shows the average age of a light vehicle on the road in the United States was 11.4 years at the end of 2013. This was the same number posted at the end of 2012. In addition, IHS research shows that the total number of light vehicles in operation at the end of last year was a record 252.7 million, up two percentage points from the final tally in 2012 (specifically, an increase of 3.7 million vehicles).

Experts believe some of these statistics reflect the progressive rebound of the auto industry based on the slower rate of growth in the average vehicle age. IHS believes the average vehicle age will remain steady at 11.4 years through 2015, then slowly rise to about 11.7 years of age by 2019. Their reasoning for this is twofold: first, the quality of vehicles on the road continues to rise; and second, there are still economy factors at play. Read More