Driving An Old Car - You Are Not Alone!
Washington DC June 9, 2014; The AIADA First Up newsletter reported that the great recession may have officially ended a few years ago, but according to CNBC, the lingering impact can be seen in the cars and trucks that many Americans drive.
Their vehicles are old.
In fact, a new study shows the average age of cars and trucks in America has hit a new all-time high of 11.4 years, up slightly from 11.3 years in 2013. "It's obvious many Americans are holding onto their cars longer and that's really accelerated since the recession," said Mark Seng with IHS Automotive which analyzed auto registrations in the U.S. on January first.
A decade ago, the average vehicle in the U.S. was 9.7 years old according to IHS Automotive. Not only is the average vehicle in America getting older, the study found the country also has a record number of vehicles in operation as the total topped 252.7 million, an increase of 3.7 million vehicles from last year. Sixteen-year-old cars and trucks make up 21.1 percent of vehicles in the U.S. as owners embrace the idea of driving their car well past the 100,000 mile mark.
How many of these "pre-'99" models are still around? 53.3 million.
Read more about America’s aging vehicle fleet here.