Record High Vehicle Ages in the U.S. as Owners Hold On Longer
TL;DR
The average age of cars, trucks, and SUVs in the US has reached a record 12.6 years in 2024 due to high new vehicle costs, though the growth in average age is slowing as new vehicle sales recover. With new vehicle prices averaging over $45,000, many consumers are keeping their older vehicles longer. Factors such as the decision between electric, hybrid, or gasoline vehicles and concerns about charging infrastructure also play a role. New vehicle sales are expected to rise to 16 million this year, which may stabilize the average vehicle age.
- America, Your Cars Are Getting Old Newser
- Cherry Valley repair shop sees more people bringing in their old vehicles WIFR
- Average US vehicle age hits record 12.6 years as high prices force people to keep them longer ABC News
- Americans are keeping their cars for longer than ever before Yahoo Finance
- Average Age of Vehicles in U.S. Continues to Rise Car and Driver
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