Americans Keeping Cars Longer; Average Age of Cars Now 10.8 Years Old
Americans are keeping their cars longer, with the average age of a car now being near 11 years old. According to Polk, which provides market intelligence on the automotive sector, the last five years have seen quick increases in average vehicle age. Scroll down for a detailed list of how long and why Americans are keeping cars longer.
Free Car Insurance Comparison
Secured with SHA-256 Encryption
|
Written by
D. Gilson, PhD
|
|
Reviewed by
Jeffrey Johnson
|
UPDATED: Jun 9, 2021
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about car insurance. Our goal is to be an objective, third-party resource for everything car insurance related. We update our site regularly, and all content is reviewed by car insurance experts.
Just as the average population of the United States has continued to grow older, the same thing has been happening with the cars we drive. A few years of down new car sales have essentially been reversed, but yet the average age of vehicles on the road continues to increase.
Americans seem intent on keeping their cars running for as long as possible, which is a strategy we can’t argue with, even if we are intoxicated by a mere whiff of new car smell.
According to Polk, which provides market intelligence on the automotive sector, the average age of a passenger car in the United States has increased in age since 2010, from 11 years to 11.1 years old. Light trucks, which include both pickups and SUVs, showed a more sizable gain in age, increasing from 10.1 years to 10.4 years.
Based on Polk’s analysis of national vehicle registration data, the last five years have seen quick increases in average vehicle age. And the average vehicle on U.S. roads is 10.8 years old. But just because the average age of vehicles has increased, that doesn’t mean there isn’t a significant economic impact absent new car sales.
Polk believes that as the average age of cars on the road increases, there are plenty of opportunities for those that provide parts and repairs that are needed to keep older vehicles running.
“The increasing age of the vehicle fleet, together with the increasing length of ownership, offers significant business growth opportunities for the automotive aftermarket,” said Mark Seng, global aftermarket practice leader at Polk. “Dealer service departments and independent repair facilities, as well as aftermarket parts suppliers, will see increased business opportunity with customers in need of vehicle service.”