R. L. Polk & Co. Reports Median Age of U.S. Cars on the Road Increases to Record High

SOUTHFIELD, Mich., Jan. 18, 2005 -- According to R. L. Polk & Co., for the fourth consecutive year the number of vehicles scrapped as a percentage of vehicles in use has declined. The percentage of total U.S. vehicles scrapped in 2004 was 5.3 percent, the lowest scrappage rate since 1993.

For passenger cars in 2004, the scrappage rate was 4.8 percent, the lowest since 1948, when the rate stood at 4.1 percent. In 2004, trucks also displayed a decrease in the rate of scrappage to 6.0 percent, a notable slip from 7.7 percent in 2003. (TABLE A)

The median age of passenger cars increased to 8.9 years, an all-time high. For trucks, the median age fell to 6.6 years, due mainly to a record 9.8 million new trucks registered in 2004, with 9.3 million of those being light trucks. (TABLE B)

"Since vehicles are lasting longer, and new light truck registrations remain around nine million per year, we will see a noticeable change in the proportion of cars versus light trucks in the near future," said Marty Miller, product manager for Polk. Throughout 2004, passenger cars comprised 59 percent of the vehicles in operation and light trucks accounted for 41 percent. Polk projects that by 2009, the percentage of cars will decrease to 54 percent, while light trucks will increase to 46 percent of vehicles in use.

   TABLE A
                         VEHICLE SCRAPPAGE RATES
   Year          Cars          Trucks*          All Vehicles
   1970          9.5%          5.0%             8.7%
   1980          8.1%          5.1%             7.4%
   1990          7.2%          4.1%             6.3%
   1995          6.1%          4.4%             5.5%
   2000          6.4%          7.5%             6.8%
   2001          6.0%          7.6%             6.6%
   2002          5.6%          7.0%             6.1%
   2003          5.2%          7.7%             5.5%
   2004          4.8%          6.0%             5.3%

   Source: R. L. Polk & Co.; *GVW 1-8

   TABLE B
                   MEDIAN AGE OF U.S. VEHICLES (YEARS)
   Year          Cars          Light            All
                               Trucks*          Trucks**
   1995          7.7           7.4              7.6
   1996          7.9           7.5              7.7
   1997          8.1           7.4              7.8
   1998          8.3           7.1              7.6
   1999          8.3           6.7              7.2
   2000          8.3           6.3              6.9
   2001          8.3           6.3              6.8
   2002          8.4           6.5              6.8
   2003          8.6           6.6              6.7
   2004          8.9           6.4              6.6

   Source: R. L. Polk & Co.; *GVW 1-3;  **GVW 1-8

  About R. L. Polk & Co.

R. L. Polk & Co. is the premier provider of automotive information and marketing solutions. Polk collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and insurance companies, advertising agencies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Mich. with operations in Australia, Canada, China, France, Germany, Italy, Japan, the Netherlands, Spain, the United Kingdom and the United States. For more information, please visit http://www.polk.com/ .