Americans have been keeping their vehicles longer, leading to an increase in the average age of light-duty vehicles on the road.
August 9, 2021
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Americans have been keeping their vehicles longer, leading to an increase in the average age of light-duty vehicles on the road. From 2002 to 2020, the average age of light-duty vehicles increased by two and a half years, reaching a new high of 12.1 years. The period from 2009 to 2013 experienced a more rapid rise in average age than the rest of the series.
Source: IHS Markit, “Average age of cars and light trucks in the US rises to 12.1 years, accelerated by COVID-19,” June 14, 2021.