Record U.S. Vehicle Age Hits 12.6 Years Amid Rising Prices

Wednesday, 22 May 2024, 16:47

The average age of vehicles in the U.S. has reached a record high of 12.6 years, driven by the increasing prices of new vehicles. With people opting to hold on to their cars, trucks, and SUVs for longer periods due to the high costs, this trend is reshaping the automotive industry landscape. The shift towards longer vehicle ownership poses challenges and opportunities for consumers, manufacturers, and the overall market.

https://store.livarava.com/2b006df9-189c-11ef-a3d3-9d5fa15a64d8.jpg — Record U.S. Vehicle Age Hits 12.6 Years Amid Rising Prices

Record Average U.S. Vehicle Age

Cars, trucks and SUVs in the U.S. keep getting older as people hang on to their vehicles largely because new ones cost so much.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Record Average U.S. Vehicle Age

Related posts