Average Age Of Vehicles In The U.S. Increases To 11.9 Years, And It Could Get Worse With COVID

The average age of vehicles on U.S. roads is on the rise, a new study from IHS Markit has revealed.

While analyzing the average age of vehicles, HIS Markit discovered it has increased to 11.9 years in 2020, a 24 per cent increase over the average age of 9.6 years from 2002. It is also well up on the average age of 10.3 years reported in 2009.

“A lot of it has to do with quality of the vehicles on the road,” aftermarket specialist with IHS Markit, Todd Campau, explained. “They are comfortable keeping that vehicle longer than they would in the past. In the mid-’90s, 100,000 miles was about all you would get out of a vehicle. Now, at a 100,000 miles a vehicle is just getting broken in.”

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The study revealed the average age of cars is already 12.4 years, while it currently sits at 11.6 years for light trucks.

IHS Markit believes that the coronavirus pandemic alone could see the average age of vehicles increase by four to six months as millions of people are now traveling less and working from home. Consequently, they are expected to hold on to their vehicles for longer. It is also reported that many consumers who may have been considering the purchase of a new vehicle are instead likely to continue driving their old car or trading it in for a used vehicle, Reuters reports.

“We definitely expect to eclipse the 12-year barrier,” added Campau. “IHS Markit anticipates significant upward pressure on average age in 2020 and subsequent years as consumers work toward a new normal both economically and in how they use their personal vehicles in a post-COVID-19 era.”