This Week in Car Buying: Average car age hits 11.5 years; Pricey Pickups ... - Kelley Blue Book
A study by IHS Automotive reports that the average age of American vehicles has climbed to a record 11. 5 years and the number in operation has hit a new high of nearly 258 million units. "As long as we have tracked average age, it has gradually risen over time due to the increasing quality of automobiles," said Mark Seng, global aftermarket practice leader at IHS Automotive. "For the five to six years following the recession, however, average age increased about five times its traditional rate, which we attribute to the nearly 40 percent drop in new vehicles sales in 2008-2009. We're now seeing average age begin to... That, combined with the fact that new car registrations outstripped scrappage rates by 42 percent, has led to a larger and older vehicle fleet in the U. S. overall. IHS Automotive also found that the average new car owner keeps a vehicle 77. 8 months, longer than ever before. Among the vehicles cited by Automotive News as leading the pack in luxury haulers were the 2015 Nissan Titan SL 4x4 Crew Cab Heavy Metal Edition, which starts at $49,275. the 2015 Toyota Tundra 1794 Edition 4x4 Crew Max at $50,110. Ram's 2015... Source: www.kbb.com
