The trend of keeping cars longer continues in the US.

Americans are holding on to their cars longer than ever due to high car prices caused by a global shortage of automotive computer chips, which slowed down global assembly lines. The average age of a passenger vehicle on the road hit a record 12.5 years this year, and sedans are even older, on average - 13.6 years. Used vehicle prices have surged 40% since the pandemic hit, and the typical monthly used-vehicle payment is now $563. Auto mechanics have been struck by the rising ages and mileages of vehicles that now arrive at the shop in numbers they'd never seen before.