Average age of vehicles in the US hit a new record
Update: 2024-05-30
Description
In this episode of Fuel for Thought we discuss the aging of the US vehicle fleet.
Vehicles on the road are getting even older, according to new S&P Global Mobility data released last week. The average age of cars and light trucks in the US has risen again to a new record of 12.6 years in 2024, up by two months over 2023. The increase in average age is showing signs of slowing as new registrations normalize.
This continues to improve business opportunities for companies in the aftermarket and vehicle service sector in the US, as repair opportunities are expected to grow alongside vehicle age.
Learn more about the average age of vehicles in this podcast and hear from these experts...
- Mike Wall - Executive Director of Automotive Analysis, S&P Global Mobility
- Todd Campau - Aftermarket Practice Lead, S&P Global Mobility
To read the Fuel for Thought article, click here.
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