The average age of traveler automobiles on U.S. roads increased in 2016 to 11.6 years from 11.5 years in 2015, market consultant IHS Markit stated.
The number of automobiles in operation in the United States at the start of 2016 increased 2.4 percent from a year earlier to 264 million, the largest yearly increase since IHS started tracking the figures.
“Quality of brand-new automobiles continues to be a key driver of the rising average vehicle age gradually,” stated Mark Seng, global director of IHS Markit’s aftermarket practice. This bodes well for the aftermarket, that includes service and parts for secondhand automobiles, Seng stated.
The average age in this year for cars was 11.63 years while for trucks it was 11.55 years, IHS noted.
The average age for automobiles on U.S. roads has actually increased each year since at least 2002, and increased most greatly after the 2008-2009 monetary crisis, IHS figures reveal. The pace of boost reached a high of 0.33 years instantly after the economic crisis, that pace has slowed to 0.11 years in each of the past 3 years, IHS Markit noted.
In 2002, the United States average automobile age was 9.6 years.
The figures are for “light” vehicles on U.S. roadways, which does not count heavy trucks.
