Average Age of Vehicles at All-Time High
It may be a little older, but it still gets you from point A to point B. The average vehicle age has been increasing steadily over the last five years, and has now reached an all-time high.
Are you keeping vehicles longer now than you have in the past? Read on to see how you compare.
People are holding on to their clunkers even longer now, with the average vehicle age now at a record high 10.8 years.
The Polk research firm in Southfield released its data today, and says the average age of a car last July was 11.1 years, while the truck average was 10.4.
The average age of cars on the road has been climbing steadily in just about every year since 1995, when the average age was only 8.4 years.
Unemployment and the sour economy have caused people to put off buying cars and trucks.