Despite a five-year boom in new vehicle sales putting more than 85 million relatively new vehicles on the road, the average age of vehicles on America’s roads continues to rise.
The average age of light vehicles in operation in the U.S. has once again climbed slightly this year, to 11.6 years, according to industry experts at IHS Markit, a provider of business information and analysis for the global automotive industry.
Registrations cars and light trucks in the U.S. also reached a record 264 million — an increase of more than 6.2 million or 2.4% since last year. This represents the highest annual increase the auto industry has seen in the U.S. since it began tracking vehicle in operation growth, breaking a record set in 2015. (more…)